Precious metals kicked off the new trading week on Tuesday, registering losses that ranged from 1% for both gold and silver to 4.1% for palladium. U.S. markets closed on Monday for the Martin Luther King Jr. holiday.
Falling for the sixth time in seven sessions, gold for February delivery lost $21.40 to end at $2,030.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are lower in midday U.S. trading Tuesday, pressured by strong gains in the U.S. dollar index and a rise in U.S. Treasury yields," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $2,027.60 and $2,062.80. They edged 0.09% higher last week.
Meanwhile, silver for March delivery gave back 23.6 cents, finishing at $23.093 an ounce. Silver futures ranged from $23.01 to $23.50. They inched 0.06% higher last week.
In other precious metals prices on Tuesday:
-
April platinum fell by $16.70, or 1.8%, to $904.40 an ounce, trading between $901.60 and $926.70.
- Palladium for March delivery declined for the fourteenth time in fifteen sessions, declining by $40.40 to $938.10 an ounce, ranging from $933.50 to $999.
Last week, platinum fell by 5.2% and palladium dropped by 5.7%.
US Mint Bullion Sales in 2024
The U.S. Mint last published bullion sales additions on Tuesday, Jan. 9. 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 | November | December | 2023 Sales | January | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 12,500 | 40,000 | 15,000 | 924,000 | 52,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 4,000 | 6,000 | 1,000 | 102,000 | 21,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 6,000 | 16,000 | 0 | 198,000 | 36,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 55,000 | 15,000 | 675,000 | 45,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 9,000 | 14,000 | 5,500 | 387,000 | 32,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 850,000 | 2,378,000 | 525,000 | 24,750,000 | 4,029,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 12,700 | 0 |
