Aside from silver, precious metals fell for a second day in a row Tuesday. Silver edged 0.6% higher after plunging 10.1% on Monday.
Gold for December delivery lost $3, or 0.2%, to settle at $1,907.60 an ounce on the Comex division of the New York Mercantile Exchange. The close remained gold’s weakest since July 24.
"When we see gold and equities down both at the same time, investors need cash. Precious metals are always a good source of raising cash. It was a factor yesterday but today we think it’s mostly dollar and technical," Reuters quoted Chris Gaffney, president of world markets at TIAA Bank. "The dollar is maintaining its strength and fundamentally that is weighing on gold prices."
Gold futures ranged from a low of $1,898.90 to a high of $1,925.50. They fell 2.6% on Monday.
Silver for December delivery rose 13.6 cents to settle at $24.523 an ounce. Silver futures traded between $23.91 and $25.30. On Monday, silver ended at its lowest price since July 31.
In other precious metals futures prices on Tuesday:
October platinum declined $18.70, or 2.1%, to $857.40 an ounce, ranging from $856.70 to $893.
- Palladium for December delivery fell $52.10, or 2.3%, to $2,229.60 an ounce, trading between $2,227.30 and $2,316.80.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $3.35, or 0.2%, to $1,906 an ounce.
- Silver dropped $2.06, or 7.8%, to $24.30 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased by a combined 490,000 ounces in silver coins, which includes 225,000 ounces in Tallgrass Prairie National Preserve 5 Oz. Silver Bullion Coins.
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||Last Week||This Week||July||August||September||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||7,500||9,500||107,500||104,000||18,500||557,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||4,000||10,000||3,000||58,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||10,000||20,000||4,000||88,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||35,000||70,000||10,000||290,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||3,000||30,000||28,000||4,500||188,500|
|$1 American Eagle 1 Oz Silver Coin||265,000||331,000||449,000||1,084,500||4,477,000||1,820,000||19,998,000|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||0||45,000||0||0||45,000|
|Tallgrass Praire 5 oz Silver Coin*||45,000||N/A||45,000||N/A||N/A||45,000||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||56,500|