All but gold declined in futures trading Tuesday. Gold’s gain was its fifth in six sessions, and the yellow metal ended the day at a three-week high.
Gold for February delivery rose $8.90, or 0.5%, to settle at $1,874.90 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Nov. 17.
"The gold bulls and bears are back on a level overall near-term technical playing field but the bulls have upside momentum. A downtrend on the daily chart was negated Monday. Bulls’ next upside price objective is to produce a close in December futures above solid resistance at $1,900.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,863.90 to a high of $1,876.90. They gained 1.4% on Monday.
Silver for March delivery shed 5.8 cents, or 0.2%, to close at $24.736 an ounce. Silver futures traded between $24.55 and $25.02. They rose 2.2% on Monday, finishing at their best level since Nov. 16.
In other precious metals futures Tuesday:
January platinum fell $12.40, or 1.2%, to $1,037 an ounce, ranging from $1,024.10 to $1,044.90.
- Palladium for March delivery lost $23.40, or 1%, to $2,327.90 an ounce, trading between $2,302.50 and $2,355.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $8.20, or 0.4%, to $1,868.15 an ounce.
- Silver surged 72.5 cents, or 3.1%, to $24.475 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||October||November||December||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||12,500||16,000||64,500||77,000||22,500||721,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||6,000||4,000||0||68,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||8,000||10,000||0||106,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||0||25,000||35,000||0||350,000|
|$50 American Buffalo 1 Oz Gold Coin||0||7,500||1,000||19,500||23,500||5,500||237,000|
|$1 American Eagle 1 Oz Silver Coin||0||800,000||475,000||3,397,000||4,805,000||751,000||30,089,500|
|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||0||0||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||56,500|