In the precious metals market on Tuesday, prices for gold and silver changed only slightly, while platinum and palladium posted gains of 1.1% and 1.8%, respectively.
Up for a fourth straight session, gold for December delivery inched higher by 30 cents, or 0.02%, to settle at $1,953.70 an ounce on the Comex division of the New York Mercantile Exchange. For a second day, the settlement was the best since Sept. 1.
"Neither the bulls nor the bears want to be too aggressive as the Fed’s FOMC meeting has begun and its conclusion comes in just over 24 hours," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,950.90 and $1,958.90, after they climbed by 0.4% on Monday.
Snapping a two-session winning streak, silver for December delivery declined by 4.2 cents, or 0.2%, to end at $23.456 an ounce. Silver futures ranged from $23.36 to $23.71. They increased by 0.5% on Monday, marking their highest settlement since Sept. 6.
In other precious metals prices on Tuesday:
October platinum tacked on $10.10 to $948.40 an ounce, trading between $934 and $955.
- Palladium for December delivery advanced by $22.50 to $1,266.50 an ounce, ranging from $1,245 to $1,280.50.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales have remained unchanged since Wednesday. 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 / This Week||Last Week||July||August||September||2023 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||8,500||41,000||78,000||12,000||756,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||10,000||0||2,000||10,000||85,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||22,000||0||2,000||22,000||156,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||15,000||0||150,000||35,000||570,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,500||16,500||19,500||15,500||328,000|
|$1 American Eagle 1 Oz Silver Coin||0||785,000||209,100,000||3,124,000||1,502,000||16,441,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||12,700|