Palladium scored another record Tuesday while silver, gold and platinum declined. Silver sank from a nearly six-month high. Gold’s loss was its first in nine sessions after notching a seven-year high on Monday.
Gold for April delivery fell $26.60, or 1.6%, to settle at $1,650 an ounce on the Comex division of the New York Mercantile Exchange.
"While economic growth concerns surrounding the coronavirus were the most recent impetus supporting gold prices, there is very little reason for gold prices to move significantly lower given the current global environment," MarketWatch quoted Jeff Klearman, portfolio manager at GraniteShares, which offers the GraniteShares Gold Trust
Gold futures ranged from a low of $1,635.10 to a high of $1,666.70. They gained 1.7% on Monday, ending the day at their highest point since Feb. 6, 2013.
Silver for March delivery tumbled 68.5 cents, or 3.6%, to finish at $18.191 an ounce. Silver futures traded between $18.11 and $18.64. They jumped 1.9% on Monday, closing at their best price since Sept. 4.
In other precious metals futures Tuesday:
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April platinum lost $41.90, or 4.3%, to $932.30 an ounce, ranging from $927.80 to $972.10.
- Palladium for March delivery rallied $126.50, or 5%, to a record settlement of $2,647.80 an ounce. The precious metal traded between $2,553.30 and $2,632.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold fell $21.35, or 1.3%, to $1,650.30 an ounce.
- Silver dropped 44.5 cents, or 2.4%, to $18.33 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales remain unreported for the week and month according to available figures from the Mint’s website. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | ||||
|---|---|---|---|---|
| This Week / February | November | December | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 2,000 | 38,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 5,000 | 0 | 23,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 18,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 60,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 5,000 | 1,500 | 21,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 463,000 | 0 | 3,846,000 |
| $1 American Eagle 1 Oz Platinum Coin | 0 | 463,000 | 0 | 14,500 |
