Precious metals logged gains as a group for a second straight session Tuesday. Gold was the biggest winner, posting its best close since 2012.
Gold for August delivery tacked on $15.60, or 0.9%, to settle at $1,782 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest for gold since it ended at $1,796.50 an ounce on Oct. 4, 2012.
"The tsunami of stimulus coming in from everywhere is not only inflationary but also painting a weaker picture for the economy and making gold look attractive," Reuters quoted Edward Meir, analyst at ED&F Man Capital Markets.
Gold futures ranged from a low of $1,758.30 to a high of $1,786.80. They gained 0.8% on Monday.
Silver for July delivery settled up 16.1 cents, or 0.9%, to $18.063 an ounce. The settlement was the highest since June 1 when silver ended at $18.827 an ounce. Silver futures traded between $17.73 and $18.14. They rose 0.3% on Monday.
In other precious metals futures Tuesday:
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July platinum rose $2.70, or 0.3%, to $846.40 an ounce, ranging from $828.40 to $849.10.
- Palladium for September delivery added $9, or 0.5%, to $1,951.10 an ounce, trading between $1,923.60 and $1,959.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $7.05, or 0.4%, to $1,768.90 an ounce.
- Silver declined 5 cents, or 0.6%, to $17.81 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased Tuesday by 2,000 ounces in American Gold Eagles.
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 | 2,000 | 10,500 | 105,000 | 5,500 | 40,500 | 325,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 0 | 6,000 | 2,000 | 41,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 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 | 0 | 500 | 28,500 | 2,500 | 4,500 | 123,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 457,000 | 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.
