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 |
