Prices for precious metals declined on Tuesday, with losses ranging from less than 0.1% for gold to 1.5% for platinum.
Down for a second straight day following four consecutive gains, gold for December delivery lost $1.70, or 0.09%, to settle at $1,986.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are lower again in midday U.S. trading Tuesday, on continued corrective and consolidative price action following recent good gains. A solidly higher U.S. dollar index, sharply lower crude oil prices and an uptick in U.S. Treasury yields today are bearish daily outside market elements for the precious metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,964.60 and $1,992. They slipped by 0.3% on Monday.
Meanwhile, silver for December delivery gave back 9.4 cents, or 0.4%, ending at $23.116 an ounce. Silver futures ranged from $22.89 to $23.51. They fell by 1.2% in the start to the week on Monday.
In other precious metals prices on Tuesday:
-
January platinum declined by $13.10 to $891.90 an ounce, trading between $886.90 and $908.80.
- Palladium for December delivery fell by $11.70, or 1%, to $1,127.50 an ounce, ranging from $1,112 to $1,143.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales last changed on Monday, with reported gains totaling 9,000 ounces in American Gold Eagles, 1,019,000 ounces in American Silver Eagles, and 4,500 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 | August | September | October | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 24,000 | 7,500 | 78,000 | 27,500 | 93,000 | 865,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 2,000 | 13,000 | 4,000 | 92,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 4,000 | 2,000 | 30,000 | 18,000 | 182,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 15,000 | 0 | 150,000 | 40,000 | 30,000 | 605,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 7,500 | 4,500 | 19,500 | 18,500 | 33,500 | 364,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 751,000 | 1,019,000 | 3,124,000 | 2,970,000 | 3,306,000 | 21,215,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
