Gold Ends Tuesday, Dec. 8, at 3-Week High

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Bullion, 3 Gold Bars
Gold ended at its best price since Nov. 17

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

 

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