Gold prices rose for a second straight session and ended at a six-week high on Tuesday, while silver, platinum and palladium declined.
Gold for December delivery tacked on $7.10, or 0.4%, to settle at $1,812.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since June 29.
"The yellow metal was boosted by technical buying, a weaker U.S. dollar index and even by some light safe-haven demand," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"Traders are awaiting two key U.S. inflation reports that are on deck. Wednesday comes the consumer price index report for July, which is seen coming in up 8.7%, year-on-year, after a rise of 9.1% in the June report. Thursday comes the producer price index report for July, seen up 0.2% from June and compares to the June report’s rise of 1.1% from May."
Gold futures traded between $1,799.40 and $1,817. They gained 0.8% on Monday.
Silver for September delivery shed 13.2 cents, or 0.6%, to close at $20.482 an ounce. Silver futures ranged from $20.40 and $20.74. They jumped 3.9% on Monday, registering their best finish since June 29.
In other precious metals futures Tuesday:
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October platinum dipped $5.40, or 0.6%, to $933 an ounce, trading between $929.80 and $944.10.
- Palladium for September delivery declined $22.70, or 1%, to $2,218.80 an ounce, ranging from $2,181 to $2,258. On Monday, palladium marked its strongest settlement since April 29.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Tuesday after showing gains on Monday for the first time this month.
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 | May | June | July | This Week / August | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 164,500 | 31,000 | 59,500 | 21,000 | 706,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 7,000 | 6,000 | 5,000 | 1,000 | 72,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 8,000 | 18,000 | 2,000 | 2,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 50,000 | 135,000 | 20,000 | 15,000 | 540,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 56,000 | 21,500 | 39,500 | 6,500 | 305,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,350,000 | 925,000 | 850,000 | 408,000 | 11,964,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 23,500 | 15,500 | 1,000 | 80,000 |
