The prices of precious metals increased on Tuesday, led by a more than 2% rise in palladium. Gains in gold and silver were modest.
Rising for the third time in a row following nine consecutive losses, gold for December delivery ticked up by $3, or 0.2%, to settle at $1,926 an ounce on the Comex division of the New York Mercantile Exchange.
"The marketplace is quieter amid the summertime doldrums and as traders and investors are looking ahead to the late-week annual Federal Reserve symposium held in Jackson Hole, Wyoming," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. "This meeting usually produces some market-sensitive news from world central bankers’ comments, including Fed Chair Jerome Powell," Wyckoff added.
Gold futures traded between $1,917.50 and $1,933.20. They increased by 0.3% on Monday, and inched 0.07% higher on Friday.
Up for a fourth session following four straight declines, silver for September tacked on 11 cents, or 0.5%, ending at $23.45 an ounce. For the day, silver prices ranged from $22.23 to $23.52, after jumping 2.7% on Monday.
In other precious metals prices on Tuesday:
-
October platinum added $12, or 1.3%, to $925.50 an ounce, trading between $912.80 and $932.40.
- Palladium for September delivery advanced by $25.70, or 2.1%, to $1,264.80 an ounce, ranging from $1,243 to $1,296.
US Mint Bullion Sales in 2023
Published U.S. Mint bullion sales were unchanged on Tuesday. On Monday, they increased by 36,500 ounces in American Gold Eagles, 756,000 ounces in American Silver Eagles, and 8,000 ounces in American Gold Buffalos.
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 | Last Week | This Week | June | July | August | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 36,500 | 35,000 | 41,000 | 52,500 | 719,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 0 | 2,000 | 75,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 4,000 | 0 | 2,000 | 134,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 0 | 60,000 | 0 | 60,000 | 445,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 11,500 | 8,000 | 17,000 | 16,500 | 19,500 | 312,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 760,000 | 756,000 | 1,482,000 | 209,100,000 | 2,339,000 | 14,154,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 3,500 | 0 | 0 | 12,700 |
