Precious metals declined as a group for a fourth session in a row on Tuesday. The losses ranged from 1.3% for gold to 5.1%. Gold and silver marked their lowest settlements since early November.
Gold for December delivery lost $22.50 to settle at $1,783.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since Nov. 3.
"Investors have been selling low- and zero-yielding assets as yields on government bonds continue to ascend. This is why gold and silver have fallen further, while technology and other growth stocks are also finding no love," MarketWatch quoted Fawad Razaqzada, a market analyst at ThinkMarkets.
Gold futures ranged from a low of $1,781.70 to a high of $1,812.50. They fell 2.5% on Monday.
Silver for December delivery tumbled 86.2 cents, or 3.6%, to settle at $23.435 an ounce. The finish was also the lowest since Nov. 3. Silver futures traded between $23.28 and $24.34. They dropped 2% on Monday.
In other precious metals futures prices Tuesday:
January platinum sank $50.90, or 5%, to $964.20 an ounce, ranging from $956.50 to $1,024.30.
- Palladium for December delivery fell $100.30 to $1,850.30 an ounce, trading between $1,835 and $1,996.50.
US Mint Bullion Sales in 2021
Published U.S. Mint bullion sales were unchanged on Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Tuesday / This Week||Last Week||September||October||November||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||29,500||67,500||135,500||73,000||1,022,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||2,000||4,000||7,000||6,000||94,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||8,000||22,000||6,000||156,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||35,000||85,000||35,000||485,000|
|$50 American Buffalo 1 Oz Gold Coin||0||11,000||24,000||41,000||26,500||327,000|
|$1 American Eagle 1 Oz Silver Coin||0||524,500||2,735,000||1,076,000||999,000||27,750,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||75,000|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||8,700||8,700|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||0||52,900|