Gold futures on Tuesday scored a third straight session gain and closed at their highest price in more than two weeks.
Gold for February delivery added $3.20, or 0.3%, to end at $1,078.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Dec. 21.
"Some more safe-haven buying and short covering in the futures market were featured, following decent gains posted Monday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Unrest in the Middle East and weak Chinese economic data released Monday have worked in favor of the yellow metal early this week."
Gold prices ranged from a low of $1,071.90 to a high of $1,081.50. In starting the week and new trading year on Monday, gold tacked on $15 or 1.4%.
Silver for March delivery advanced 13 cents, or 0.9%, to settle at $13.971 an ounce. Silver prices traded from $13.85 to $14.07. The close was the highest since Dec. 24. Silver climbed 0.3% on Monday.
In PGM futures on Tuesday:
-
April platinum rose $5.50, or 0.6%, to $890 an ounce, ranging from $880.70 to $899.10.
- Palladium for March delivery fell $8.45, or 1.6%, to $535.75 an ounce, trading between $534.05 and $548.65.
London Precious Metals Prices
Earlier fixed London gold and silver prices were mixed. In comparing their levels from Monday PM to Tuesday PM:
- Gold declined $5.25, or 0.5%, to $1,077 an ounce.
- Silver added a penny, or less than 0.1%, to $14.01 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
United States Mint bullion sales will take off next Monday, Jan. 11, when newly 2016-coins become available. Most of the 2015-dated issues sold out with product series scoring multi-year highs, like American Gold Buffalo and ATB five ounce silver coins, and an annual record, like American Silver Eagles.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods. Products with an asterisk (*) have sold out.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Tuesday / This Week | Last Week | Dec Sales | 2015 Sales | YTD Sales | |
| $50 American Eagle 1 Oz Gold Coins* | N/A | N/A | N/A | 626,500 | N/A |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 0 | 1,000 | 75,000 | 0 |
| $10 American Eagle 1/4 Oz Gold Coins* | N/A | N/A | N/A | 158,000 | N/A |
| $5 American Eagle 1/10 Oz Gold Coins* | N/A | N/A | N/A | 980,000 | N/A |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 0 | 1,500 | 220,500 | 0 |
| $1 American Eagle 1 Oz Silver Coins* | N/A | N/A | 2,333,500 | 47,000,000 | N/A |
| 2015 Homestead 5 Oz Silver Coins* | N/A | 35,000 | N/A | ||
| 2015 Kisatchie 5 Oz Silver Coins* | 42,000 | ||||
| 2015 Blue Ridge Parkway 5 Oz Silver Coins* | 45,000 | ||||
| 2015 Bombay Hook 5 Oz Silver Coins* | 45,000 | ||||
| 2015 Saratoga 5 Oz Silver Coins* | N/A | 9,200 | 45,000 | ||
It is interesting that the U.S. Mint’s bullion coin Authorized Purchasers have not bought a single gold bullion coin in the new year 2016 (or even the last 2 weeks almost). The Mint still offers them the 2015 American Gold Eagle $25 half-ounce gold bullion coin & the 2015 American Gold Buffalo $50 one-ounce gold bullion coins, but there is no demand for them this year obviously! The Mint’s AP’s will have to purchase these 2015 gold bullion coins at some point since the Mint doesn’t melt them down. The Mint requires the AP’s to purchase them at some point… Read more »
There should be some 2016 forgein world coins at the Fun coin show. Or is it U.S only?
Joe – I attended the FUN (Florida United Numismatists) coin show/convention in Florida many times when it used to be held in Orlando, Florida. It is a large numismatic event and sets the tone for the new year numismatic marketplace. Since the biggest foreign coin show in the USA is being held on the very same days (Jan. 7-10) in New York City at the world-famous Waldorf-Astoria Hotel (at a special room rate for dealers & attendees of $289 per night! & now owned by a communist People’s Republic of China corporation) most foreign coin products will be there in… Read more »
Seth-
I really would like to go to a Fun coin show one of these years and see what it’s all about. All in good time. Thanks for the info.