Precious Metals Rise Tuesday, Jan. 5

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closeup of gold bullion
Gold prices finished 0.4% higher Tuesday, Jan. 5, for their highest settlement since Sept 18

Gold and silver logged another day of gains Tuesday, with the former closing at a more than 3-1/2-month high and the latter ending at its best price in over 4 months. Meanwhile, palladium and platinum soared to easily overtake their losses on Monday.

Gold for February delivery moved up $7.80, or 0.4%, to settle at $1,954.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 18 when gold closed at $1,962.10 an ounce.

"With more risks associated with the virus, short term, we’re seeing people moving money into the safe havens,” Reuters quoted Chris Gaffney, president of world markets at TIAA Bank. Gaffney added that the dollar’s weakness has been one of the main supports for bullion in the first few days of 2021.

Gold futures ranged from a low of $1,938.40 to a high of $1,956. They tacked on 2.7% on Monday.

Silver for March delivery advanced 27.6 cents, or 1%, to end at $27.64 an ounce. The finish was silver’s best since it closed Sept. 1 at $28.645 an ounce. Silver futures traded between $27.15 and $27.74. They soared 3.6% on Monday.

In other precious metals Tuesday:

  • April platinum gained $48.10, or 4.5%, to $1,119.60 an ounce, ranging from $1,068.10 to $1,125.40.

  • Palladium for March delivery rallied $102.20, or 4.3%, to $2,493.40 an ounce, trading between $2,380 and $2,536.50.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold declined $2.85, or 0.2%, to $1,940.35 an ounce.
  • Silver gained 24 cents, or 0.9%, to $27.51 an ounce.

US Mint Bullion Sales in 2021

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 / This Week Last Week October November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 2,000 64,500 77,000 48,500 747,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 6,000 4,000 2,000 70,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 8,000 10,000 0 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 0 0 19,500 23,500 10,500 242,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,397,000 4,805,000 751,000 30,089,500
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 0 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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