Precious metals kicked off the new trading month Tuesday with gains that ranged from 1% for palladium to 6.6% for silver.
Gold for February delivery jumped $38, or 2.1%, to settle at $1,818.90 an ounce on the Comex division of the New York Mercantile Exchange.
"We saw gold recapture the $1,800 level and a lot of that has to do with the weakening dollar trade," Reuters quoted Edward Moya, senior market analyst at OANDA.
Gold futures ranged from a low of $1,778.40 to a high of $1,821.10. They declined 0.4% on Monday, marking their lowest settlement since July 1 and ending the month of November with a 5.3% loss.
Silver for March delivery soared $1.50 to close at $24.09 an ounce. Silver futures traded between $22.66 and $24.18. They slipped 0.2% on Monday, logging their weakest finish since July 21 and posting a 4.5% loss for November.
In other precious metals futures prices Tuesday:
January platinum rose $38, or 3.9%, to $1,003.90 an ounce, ranging from $968 to $1,008.
- Palladium for March delivery advanced $23.80 to $2,429.70 an ounce, trading between $2,383.60 and $2,446.40.
Last month platinum gained 13.9% and palladium increased 8.5%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $48.20, or 2.7%, to $1,810.75 an ounce.
- Silver soared $1.39, or 6.3%, to $23.535 an ounce.
In LBMA results last month, prices declined 6.3% for gold, they fell 6.2% for silver, they jumped 14.9% for platinum and they rose 7.7% for palladium.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased Tuesday by 4,500 ounces in American Gold Eagles, 3,500 ounces in American Gold Buffalos, and 276,000 ounces in American Silver Eagles.
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 / December||Last Week||This Week||September||October||November||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||4,500||18,500||10,500||18,500||64,500||77,000||703,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||3,000||6,000||4,000||68,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||8,000||10,000||106,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||5,000||10,000||25,000||35,000||350,000|
|$50 American Buffalo 1 Oz Gold Coin||3,500||5,500||6,500||4,500||19,500||23,500||235,000|
|$1 American Eagle 1 Oz Silver Coin||276,000||825,000||800,000||2,958,500||3,397,000||4,805,000||29,614,500|
|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|