Prices for precious metals changed little on Tuesday, despite experiencing a rise across the board. Among the group, gold emerged as the best performer, advancing by 0.4%.
More specifically, gold for August delivery rose by $7.20 to settle at $1,981.50 an ounce on the Comex division of the New York Mercantile Exchange.
“Technically, August gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $2,000.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the May low of $1,949.60," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,970.30 and $1,982.90, after climbing by 0.2% on Monday.
Meanwhile, silver for July delivery inched up by 3.5 cents, or nearly 0.2%, to close at $23.67 an ounce. Silver futures ranged from $23.41 to $23.87, after falling by 0.5% on Monday.
In other precious metals prices on Tuesday:
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July platinum edged up by $2.30, or 0.2%, to $1,038.70 an ounce, trading between $1,026.60 and $1,044.30.
- Palladium for September delivery added $1.50, or 0.1%, to $1,411.80 an ounce, ranging from $1,384.50 to $1,432.50.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales have been unchanged so far this month. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Tuesday / Week / June | Last Week | February | March | April | May | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 41,500 | 211,000 | 159,000 | 60,500 | 590,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 18,000 | 8,000 | 1,000 | 8,000 | 18,000 | 72,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 14,000 | 12,000 | 10,000 | 12,000 | 32,000 | 146,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 80,000 | 85,000 | 10,000 | 35,000 | 80,000 | 325,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 8,500 | 19,500 | 73,000 | 61,000 | 47,000 | 259,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 693,000 | 900,000 | 900,000 | 900,000 | 1,593,000 | 8,242,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 1,200 | N/A | 7,500 | 500 | 1,200 | 9,200 |
Gold rose, silver inched up, platinum edged up and palladium added [value]. I love these sportscaster/news-like precious metal calls; who needs baseball when you’ve got this.