Gold, silver and platinum recovered some of their losses on Monday while palladium finished lower for a second day in a row.
Gold for December delivery rose $22, or 1.2%, to settle at $1,876.40 an ounce on the Comex division of the New York Mercantile Exchange.
"News from Pfizer that it has developed a very promising Covid-19 vaccine spiked up risk appetite in the marketplace. Stock markets soared on the news, including U.S. indexes hitting record highs. The metals markets were also hit by a solid rally in the U.S. dollar index today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,858.90 to a high of $1,888.90. They dropped 6% on Monday, registering their lowest settlement since July 21.
Meanwhile, silver for December delivery surged 76.1 cents, or 3.2%, to settle at $24.462. Silver futures traded between $23.95 and $24.58. They tumbled 7.6% on Monday, posting their weakest close since Oct. 30.
In other precious metals futures Tuesday
January platinum advanced $25.30, or 2.9%, to $892.70 an ounce, ranging from $866 to $895.
- Palladium for December delivery fell $27.80, or 1.1%, to $2,471.40 an ounce, trading between $2,457 and $2,504.10.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $11.40, or 0.6%, to $1,878.70 an ounce.
- Silver declined 61 cents, or 3.6%, to $25.195 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Tuesday. 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||September||October||November||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||22,000||7,000||18,500||64,500||29,000||651,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||3,000||6,000||2,000||66,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||4,000||4,000||4,000||8,000||8,000||104,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||15,000||10,000||10,000||25,000||25,000||340,000|
|$50 American Buffalo 1 Oz Gold Coin||0||7,500||1,500||4,500||19,500||9,000||217,000|
|$1 American Eagle 1 Oz Silver Coin||0||1,653,000||1,048,500||2,958,500||3,397,000||2,701,500||27,235,000|
|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||0||0||0||45,000|
|Tallgrass Prairie 5 oz Silver Coin*||0||0||0||45,000||0||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||56,500|