Gold and silver futures were nearly unchanged Tuesday as gold climbed a smidgen and silver dropped less than a nickel.
Gold for December delivery inched up 20 cents to $1,241.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices traded from $1,239.20 to $1,257.80.
"The smart money is gradually accumulating on the dips. Dollar-cost averaging remains prudent for investors who wish to get exposure to bullion but are concerned about further price falls," MarketWatch quoted Mark O’Byrne, executive director at GoldCore. Dollar-cost averaging is an investment strategy in which an investor invests a set sum in the market on a regular schedule.
On Monday, gold fell $2.90, or 0.2%, to settle at its lowest price since July 8.
Down for the sixth time in seven sessions, silver for December delivery lost 3.4 cents, or less than 0.2%, to settle at $19.85 an ounce. Silver prices ranged from $19.81 to $20.29. The precious metal in the prior session added 2 cents, or 0.1%.
In PGM futures on Tuesday:
-
January platinum declined $5.90, or 0.4%, to $1,371.90 an ounce, trading between $1,368.50 and $1,391.70.
- Palladium for March delivery, the new most active contract, fell $3.70, or 0.5%, to end at $718.45 an ounce. Prices ranged from $713.50 to $726.60.
London Fix Precious Metals
London bullion fixings were mostly higher. When comparing Monday PM to Tuesday PM London fix prices:
- Gold edged up $4.50, or 0.4%, to $1,247.50 an ounce,
- Silver surged 40 cents, or 2%, to $20.11 an ounce,
- Platinum declined $2, or 0.1%, to $1,381 an ounce, and
- Palladium added $2, or 0.3%, to $720 an ounce
US Mint Bullion Sales in November
Sales totals for United States Mint bullion coins advanced for the one-ounce sizes. Gold Eagles rose 8,000; Gold Buffalos added 4,500 and Silver Eagles gained 107,000.
U.S. Mint bullion sales for day, the month through Nov. 25, and the year-to-date are listed below.
| American Eagle and Buffalo Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Week-To-Date Sales | November Sales | YTD Sales | |
| $50 American Gold Eagle Bullion Coins | 8,000 | 10,500 | 8,000 | 39,000 | 685,000 |
| $25 American Gold Eagle Bullion Coins | 0 | 1,000 | 0 | 2,000 | 58,000 |
| $10 American Gold Eagle Bullion Coins | 0 | 2,000 | 0 | 4,000 | 118,000 |
| $5 American Gold Eagle Bullion Coins | 0 | 5,000 | 0 | 20,000 | 520,000 |
| $50 American Buffalo Gold Bullion Coins | 4,500 | 2,000 | 4,500 | 12,500 | 230,500 |
| White Mountain 5 oz. Silver Bullion Coins | Sold Out | 35,000 | |||
| Perry’s Victory 5 oz. Silver Bullion Coins | 0 | 300 | 0 | 900 | 27,100 |
| Great Basin 5 oz. Silver Bullion Coins | 0 | 800 | 0 | 1,400 | 28,600 |
| Fort McHenry 5 oz. Silver Bullion Coins | Sold Out | 30,000 | |||
| Mount Rushmore 5 oz. Silver Bullion Coins | Sold Out | 35,000 | |||
| American Silver Eagle Bullion Coins | 107,000 | 500,000 | 438,000 | 1,938,000 | 41,113,000 |
