Precious metals rebounded Tuesday with gold leading gains and scoring a more than two-week high as the US dollar dipped against other major currencies.
Gold for December delivery tacked on $13.60, or 1.1%, to end at $1,197.10 an ounce on the Comex division of the New York Mercantile Exchange. Gains were also supported by news that Russia’s central bank purchased about 150 metric tons of gold this year, more than doubling last year’s total.
"The fact that Russia is buying more gold instead of diversifying into another currency or buying more dollars is a big positive," Frank Lesh, a trader at FuturePath Trading LLC in Chicago, said in a telephone interview according to Bloomberg News.
Gold ranged from a low of $1,182.70 to a high of $1,204.10, the best price since Oct. 30. Prices slipped 0.2% in the prior session.
Silver for December delivery added 12 cents, or 0.7%, to close at $16.17 an ounce. The white metal traded between $15.97 and $16.40. Silver prices declined 1.6% on Monday.
In PGM futures on Tuesday:
-
January platinum added $3.30, or 0.3%, to $1,204.60 an ounce, ranging from $1,198.40 to $1,216.70.
- Palladium for December delivery rose $8, or 1%, to $776.70 an ounce, trading between $765.50 and $777.85.
London Fix Precious Metals
Earlier fixed London precious metals also advanced. In contrasting London bullion Fix prices from Monday PM to Tuesday PM:
- Gold added $10.25, or 0.9%, to $1,192.75 an ounce,
- Silver climbed 7 cents, or 0.4%, to $16.27 an ounce,
- Platinum gained $3, or 0.2%, to $1,205 an ounce, and
- Palladium added $3, or 0.4%, to $774 an ounce
US Mint Bullion Coin Sales in November
United States Mint bullion sales included 1,000 ounces in gold coins and 305,000 ounces in silver coins. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Tuesday, last week, this week so far, last month, in November and the year to date.
| American Eagle and Buffalo Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Current Week | October Sales | November Sales | YTD Sales | |
| $100 American Platinum Eagle Bullion Coins | N/A | 400 | N/A* | 16,700 | ||
| $50 American Eagle Bullion Gold Coins | 0 | 10,000 | 1,500 | 57,500 | 40,500 | 394,000 |
| $25 American Eagle Bullion Gold Coins | 1,000 | 2,000 | 1,000 | 6,000 | 5,000 | 43,000 |
| $10 American Eagle Bullion Gold Coins | 0 | 4,000 | 2,000 | 8,000 | 10,000 | 110,000 |
| $5 American Eagle Bullion Gold Coins | 0 | 15,000 | 0 | 50,000 | 30,000 | 520,000 |
| $50 American Buffalo Bullion Gold Coins | 500 | 2,000 | 2,500 | 21,000 | 10,500 | 171,000 |
| $1 American Eagle Silver Bullion Coins | 298,500 | 0 | 1,310,500 | 5,790,000 | 2,570,500 | 40,691,500 |
| Great Smoky Mountains National Park 5 Oz Silver Bullion Coins | 0 | 0 | 0 | 0 | 0 | 33,000 |
| Shenandoah National Park 5 Oz Silver Bullion Coins | 300 | 0 | 300 | 900 | 700 | 23,100 |
| Arches National Park 5 Oz Silver Bullion Coins | 0 | 0 | 0 | 0 | 0 | 22,000 |
| Great Sand Dunes 5 Oz Silver Bullion Coins | 1,000 | 0 | 1,000 | 4,200 | 1,600 | 17,800 |
| Everglades 5 Oz Silver Bullion Coins | 0 | 0 | 5,000 | N/A | 27,000 | 27,000 |
*The U.S. Mint stopped selling bullion Platinum Eagles on Oct. 1. The agency will begin selling 2015-dated issues in early January.
