Precious metals settled lower Tuesday, posting losses that ranged from 0.3% for platinum to 4.5% for silver. Gold’s decline was its first in four sessions and, like for silver, follows a three-week settlement high.
Gold for December delivery shed $34.30, or 1.8%, to close at $1,894.60 an ounce on the Comex division of the New York Mercantile Exchange.
"The safe-haven metals bulls need a new fundamental news spark, to take focus away from the recent, overall tepid appreciation in the greenback that should arguably not be influencing the metals markets that much," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,889.30 to a high of $1,930.60. They edged 0.1% higher on Monday for their best settlement since Sept. 18.
Silver for December delivery sank $1.14 to settle at $24.129. Silver futures traded between $24.01 and $25.31. They gained 0.7% on Monday, also for their highest settlement since Sept. 18.
In other precious metals futures prices Tuesday:
January platinum dipped $3 to $873.30 an ounce, ranging from $863 to $885.40.
- Palladium for December delivery lost $81.30, or 3.4%, to $2,344.30 an ounce, trading between $2,304.80 and $2,440.20.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $34.20, or 1.8%, to $1,891.30 an ounce.
- Silver fell 12.5 cents, or 0.5%, to $24.935 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased Tuesday by 3,500 ounces in American Gold Eagles and by 500 ounces in American Gold Buffalo gold 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 / This Week||Last Week||August||September||October||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||3,500||16,000||104,000||18,500||33,000||590,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||10,000||3,000||2,000||60,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||20,000||4,000||2,000||90,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||70,000||10,000||5,000||295,000|
|$50 American Buffalo 1 Oz Gold Coin||500||2,000||28,000||4,500||9,000||197,500|
|$1 American Eagle 1 Oz Silver Coin||0||826,000||4,477,000||2,958,500||826,000||21,962,500|
|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||0||0||45,000|
|Tallgrass Prairie 5 oz Silver Coin*||0||0||N/A||45,000||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||56,500|