On Tuesday, gold, silver, and platinum prices increased, while palladium declined. Both gold and silver reached nearly three-week highs.
Gold for June delivery settled at $2,023.30 an ounce on the Comex division of the New York Mercantile Exchange, after advancing by $31.10, or 1.6%. This marked the highest settlement since April 13.
"Gold and silver prices are solidly higher on safe-haven buying interest as trader and investor risk aversion has quickly up-ticked amid a sharp drop in U.S. banking stocks today. U.S. Treasury yields have also dropped on flight-to-quality buying amid the higher anxiety in the marketplace," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,986.90 and $2,028.80, after shedding 0.4% on Monday to finish at their lowest price since April 21.
Silver for July delivery closed at $25.619 an ounce, after gaining 38.9 cents, or 1.5%. Like gold, this marked the highest settlement since April 13. Silver futures fluctuated between $24.82 and $25.77, after a slight increase of 0.02% on Monday.
In other precious metals prices on Tuesday:
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July platinum rose by $13.60, or 1.3%, to reach $1,078.30 an ounce, trading between $1,052.70 and $1,079.70.
- Palladium for June delivery declined by $25.80, or 1.8%, to $1,421 an ounce after falling 4.2% on Monday. It ranged from $1,416 to $1,460.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales were unchanged on Tuesday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Tuesday / Week | Last Week | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 37,000 | 41,500 | 211,000 | 159,000 | 529,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 12,000 | 10,000 | 12,000 | 96,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 35,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,000 | 19,500 | 73,000 | 61,000 | 212,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 900,000 | 900,000 | 900,000 | 6,649,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 7,500 | 500 | 8,000 |
