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|