Most precious metals futures climbed in their start to the new trading week on Tuesday following the Labor Day extended weekend.
Gold for December delivery settled up $8.90, or 0.5%, to $1,943.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Buying interest in the precious metals has been limited today by bearish outside markets that see sharply lower crude oil prices and a solid rally in the U.S. dollar index. However, solid selling pressure in the U.S. stock market is providing a lift to the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,911.70 to a high of $1,948.30. They fell 2.1% last week.
Silver for December delivery tacked on 27.9 cents, or 1%, to finish at $26.991 an ounce. Silver futures traded between $25.98 and $27.39. They dropped 3.9% last week.
In other precious metals prices Tuesday:
October platinum rose $12.10, or 1.4%, to $910.30 an ounce, ranging from $890.90 to $921.
- Palladium for December delivery fell $37.40, or 1.6%, to $2,305.80 an ounce, trading between $2,255.30 and $2,348.50.
Last week platinum declined 4.5% and palladium rallied 5%.
London Precious Metals Prices (LBMA)
In comparing London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $17.50, or 0.9%, to $1,910.95 an ounce.
- Silver fell 15.5 cents, or 0.6%, to $26.675 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged according to available figures from the bureau’s website. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday / This Week / Sept.||Last Week||June||July||August||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||42,500||107,500||86,000||521,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||2,000||4,000||6,000||51,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||10,000||12,000||76,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||35,000||30,000||240,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||7,500||30,000||22,500||178,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||1,398,000||1,084,500||2,593,000||16,294,000|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||0||45,000||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||56,500|
Every so often I buy a 5 oz silver bar or a few silver eagles. I haven’t purchased any in awhile. So the other day I was looking to buy another 5 oz silver bar and observed the surge in the price of silver.