Precious metals finished higher Tuesday, posting gains ranging from 0.5% for both gold and palladium to 2.7% for platinum. Silver advanced 1.5%.
Gold for August delivery rose $9.30 to settle at $1,736.50 an ounce on the Comex division of the New York Mercantile Exchange.
"The gains for the safe-haven metals come despite a rally in the U.S. stock market due in part to the U.S. Federal Reserve providing more monetary stimulus and on reports that a drug has been realized that can cut death risks of patients on ventilators by one-third," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,722.30 to a high of $1,741.30.They fell 0.6% on Monday.
Silver for July delivery added 25.3 cents to settle at $17.652 an ounce. Silver futures traded between $17.46 and $17.79. They declined 0.5% on Monday.
In other precious metals futures Tuesday:
July platinum moved up $22.20 to $843.90 an ounce, ranging from $822.20 to $847.80.
- Palladium for September delivery settled up $9.60 to $1,942.70 an ounce, trading between $1,927.10 and $1,973.60.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold added $9.40, or 0.6%, to $1,719.85 an ounce.
- Silver rose 32.5 cents, or 1.9%, to $17.41 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion products registered their first gains of the week with gold coins climbing 10,000 ounces and silver coins rising 457,000 ounces.
. 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||June||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||8,500||25,500||105,000||5,500||36,500||321,500|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||1,000||0||6,000||2,000||41,000|
|$10 American Eagle 1/4 Oz Gold Coin||2,000||0||0||12,000||2,000||54,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||500||3,500||28,500||2,500||4,500||123,000|
|$1 American Eagle 1 Oz Silver Coin||457,000||0||750,000||490,000||907,000||12,125,500|
|$1 American Eagle 1 Oz Platinum Coin||0||0||1,500||0||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.