Gold futures fell for a fourth straight session on Tuesday, and silver dropped from an almost two-year high, as investors turned from safe-havens to equities.
Gold for August delivery declined $21.30, or 1.6%, to settle at $1,335.30 an ounce on the Comex division of the New York Mercantile Exchange.
"The markets seem to be relatively risk-on," Bloomberg News quoted Tetsu Emori, president of Emori Capital Management Inc. "In that sense, the money should be coming out from the gold market to the equity market."
Gold futures ranged from a low of $1,331 to a high of $1,358.90. They have declined $31.80, or 2.3%, since last ending higher on Wednesday when prices notched a more than 2-year high.
Falling for the first time since Thursday, silver for September delivery shed 13.3 cents, or 0.7%, to settle at $20.171 an ounce. Silver futures traded between $20.02 and $20.60. On Monday, they closed at their highest level since Aug. 1, 2014.
Rounding out metals trading:
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October platinum declined $10.20, or 0.9%, to $1,097.90 an ounce, ranging from $1,090.70 to $1,111.90.
- Palladium for September delivery added $3.20, or 0.5%, to $628.95 an ounce, trading between $613.25 and $631.40.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $14.70, or 1.1%, to $1,342.40 an ounce.
- Silver fell 12 cents, or 0.6%, to $20.35 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 advanced on Tuesday by 2,500 in American Eagle and Buffalo gold coins and by 120,000 ounces in American Silver Eagles
On Monday, the U.S. Mint set its latest weekly allocation of American Silver Eagles to 3,649,500 coins. Bullion distributors ordered 8.1% of them through Tuesday. Although their sales have slowed in recent weeks, 2016 Silver Eagles are still tracking toward an annual record with 26,795,500 sold. The figure represents a 9.4% increase over those sold through same time in record-breaking year 2015.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Tuesday Sales | Last Week | This Week | June Sales | July Sales | 2016 Sales | |
| $50 American Eagle 1 Oz Gold Coins | 2,000 | 7,500 | 6,000 | 62,500 | 13,500 | 419,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 1,000 | 0 | 3,000 | 1,000 | 47,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 4,000 | 0 | 10,000 | 4,000 | 90,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 5,000 | 0 | 70,000 | 5,000 | 510,000 |
| $50 American Buffalo 1 Oz Gold Coins | 500 | 3,000 | 500 | 14,500 | 3,500 | 116,000 |
| $1 American Eagle 1 Oz Silver Coins | 120,000 | 250,000 | 295,000 | 2,837,500 | 545,000 | 26,795,500 |
| 2016 Shawnee 5 Oz Silver Coins | 0 | 0 | 0 | 0 | 0 | 105,000 |
| 2016 Cumberland Gap 5 Oz Silver Coins | 0 | 0 | 0 | 0 | 0 | 75,000 |
| 2016 Harpers Ferry 5 Oz Silver Coins | 0 | 0 | 0 | 34,200 | 0 | 34,200 |
Why aren’t the 13 worldwide US Mint bullion coin APs & their customers buying any of the 5-oz silver pucks? None sold in July yet!
–NumisDudeTX
Gold should hit record high by next year. This year at least $1,500.00 more or less.