Gold and silver prices settled higher for a third session in a row Tuesday on safe-haven demand as U.S. and world stocks continued to decline.
Gold for February delivery advanced $15.40, or 1.3%, to close at $1,219.40 an ounce on the Comex division of the New York Mercantile Exchange.
"There is a lot of risk out there, which is supportive, connected to the euro zone, a possible slowdown in China. Gold is coming back as a safe-haven risk hedge," Reuters quoted Citi analyst David Wilson.
Gold prices ranged from a low of $1,201.60 to a high of $1,214.40. Gold gained $17.80, or 1.5%, in the previous session.
Silver for March delivery tacked on 42 cents, or 2.6%, to end at $16.64 an ounce. The white metal traded between $16.12 and $16.74. Silver prices jumped 45 cents, or 2.8%, in the prior session.
In PGM futures on Tuesday:
-
April platinum settled up $10.50, or 0.9%, to $1,221.40 an ounce, trading between $1,209 and $1,230.
- Palladium for March delivery added $7.20, or 0.9%, to $800.40 an ounce, ranging from $794 to $810.
London Fix Precious Metals
Earlier fixed London precious metals advanced as well. In comparing London bullion Fix prices from Monday PM to Tuesday PM:
- Gold gained $10.25, or 0.9%, to $1,210.25 an ounce,
- Silver rose 41 cents, or 2.6%, to $16.29 an ounce,
- Platinum gained $7, or 0.6%, to $1,213 an ounce, and
- Palladium rose $4, or 0.5%, to $798 an ounce.
US Mint Bullion Coin Sales
United States Mint bullion sales were unchanged Tuesday as of 3:02 PM ET. The agency’s first-day sales on Monday of its 2015-dated gold coins more than doubled all of December sales. The Mint’s 2015-dated Silver Eagles go on sale next Monday.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, in December, and last year. Coins with an asterisk (*) have sold out for 2014.
| American Eagle and Buffalo Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Current Week | December Sales | 2014 Sales | January / 2015 Sales | |
| $100 American Platinum Eagle Bullion Coins* | 0 | 0 | 0 | 0 | 16,900 | 0 |
| $50 American Eagle Bullion Gold Coins | 0 | 0 | 24,000 | 13,000 | 415,500 | 24,000 |
| $25 American Eagle Bullion Gold Coins | 0 | 0 | 12,000 | 0 | 46,000 | 12,000 |
| $10 American Eagle Bullion Gold Coins | 0 | 0 | 22,000 | 6,000 | 118,000 | 22,000 |
| $5 American Eagle Bullion Gold Coins | 0 | 0 | 65,000 | 35,000 | 565,000 | 65,000 |
| $50 American Buffalo Bullion Gold Coins | 0 | 0 | 16,500 | 4,500 | 177,500 | 16,500 |
| $1 American Eagle Silver Bullion Coins* | 0 | 0 | 0 | 2.459M | 44.006M | 0 |
| Great Smoky Mountains National Park 5 Oz Silver Bullion Coins* | 0 | 0 | 0 | 0 | 33,000 | 0 |
| Shenandoah National Park 5 Oz Silver Bullion Coins | 0 | 0 | 0 | 1,100 | 24,400 | 0 |
| Arches National Park 5 Oz Silver Bullion Coins* | 0 | 0 | 0 | 0 | 22,000 | 0 |
| Great Sand Dunes 5 Oz Silver Bullion Coins* | 0 | 0 | 0 | 4,000 | 21,900 | 0 |
| Everglades 5 Oz Silver Bullion Coins* | 0 | 0 | 0 | 7,000 | 34,000 | 0 |
