Precious metals futures changed modestly Tuesday, with gold, silver and palladium rising and platinum falling.
Gold for June delivery rose $8.80, or 0.5%, to settle at $1,706.80 an ounce on the Comex division of the New York Mercantile Exchange.
"It appears a safe-haven bid has returned to the precious metals amid changing marketplace notions regarding the pace of economic healing after the Covid-19 pandemic has subsided," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,693.50 to a high of $1,716.70. They lost 0.9% on Monday.
Silver for July delivery added 2.9 cents, or 0.2%, to settle at $15.709 an ounce. Silver futures traded between $15.52 and $15.88. They declined 0.6% on Monday.
In other precious metals futures prices Tuesday:
July platinum declined $3.90, or 0.5%, to $777.40 an ounce, ranging from $770.50 to $791.10.
- Palladium for June delivery gained $7.30, or 0.4%, to $1,835.40 an ounce, trading between $1,814.30 and $1,887.40.
London Precious Metals Prices (LBMA)
In comparing LBMA prices from Monday PM to Tuesday PM:
- Gold edged down 35 cents, or 0.02%, to $1,702.40 an ounce.
- Silver rose 4 cents, or 0.3%, to $15.485 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Tuesday. 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)|
|Tuesday / This Week||Last Week||April||May||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||2,000||105,000||2,000||281,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||5,000||0||5,000||38,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||10,000||0||10,000||50,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||28,500||0||116,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||750,000||0||10,728,500|
|$1 American Eagle 1 Oz Platinum Coin||0||0||1,500||0||56,500|
In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.