On Tuesday, for a second consecutive day, precious metals declined together, with losses ranging from 0.5% for palladium to 1.1% for platinum. Gold ended the day at a more than five-week low.
Gold for December delivery fell by $16.80, or 0.9%, to settle at $1,919.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Aug. 18 when gold ended at $1,916.50 an ounce.
"Gold and silver prices are down and near daily lows in midday U.S. trading Tuesday. U.S. Treasury yields are on the rise and near multi-year highs, while the U.S. dollar index today scored a 6.5-month high. Both are bearish outside market forces constricting the precious metals bulls," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,917.20 and $1,935.50. They slipped by 0.5% on Monday.
Meanwhile, silver for December delivery settled down 18.9 cents, or 0.8%, to $23.196 an ounce. The close was the weakest since Sept. 14. Silver futures ranged from $23.10 and $23.39. They dropped by 1.9% on Monday.
In other precious metals prices on Tuesday:
October platinum shed $10.40 to $907.10 an ounce, trading between $901.50 and $916.50.
- Palladium for December delivery fell by $6.30 to $1,225.70 an ounce, with prices ranging between $1,210 and $1,246.50.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales have remained unchanged since Wednesday, Sept. 13. 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)|
|Monday||Last Week||July||August||September||2023 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||41,000||78,000||12,000||756,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||2,000||10,000||85,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||22,000||156,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||150,000||35,000||570,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||16,500||19,500||15,500||328,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||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|