Gold futures closed lower Tuesday after climbing in the previous two sessions and reaching an almost 10-week high.
Gold for February delivery shed $4.80, or 0.4% to settle at $1,210.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session modestly lower Tuesday, on some profit taking from the shorter-term futures traders and on a technical correction after poking to another two-month high overnight," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,207.90 to a high of $1,220.10. They gained 0.9% on Monday, and finished at their highest price since Nov. 17.
Ending almost flat, silver for March delivery lost one-tenth of a cent to settle at $17.185 an ounce. Silver futures traded between $17.10 and $17.31. Like gold, they advanced 0.9% in the previous session.
In rounding out precious metals action:
-
April platinum advanced $27.90, or 2.9%, to $1,007.80 an ounce, ranging from $982.40 to $1,008.70.
- Palladium for March delivery surged $24.35, or 3.2%, to $795.85 an ounce, trading between $773.25 and $798.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:
- Gold added $3.95, or 0.3%, to $1,216.80 an ounce.
- Silver dipped 3.5 cents, or 0.2%, to $17.105 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 2017
United States Mint bullion sales were unchanged as of 3:59 p.m. ET. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Tuesday Sales | Last Week | This Week | Dec Sales | Jan Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | – | 13,300 | – | 13,300 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 14,500 | 4,000 | 23,000 | 74,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 3,000 | 18,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 0 | 2,000 | 34,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 15,000 | 40,000 | 110,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,000 | 1,500 | 12,500 | 28,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 825,000 | 150,000 | 240,000 | 4,722,500 |
| 2016 Shawnee 5 Oz Silver Coins* | – | ||||
| 2016 Cumberland Gap 5 Oz Silver Coin* | – | ||||
| 2016 Harpers Ferry 5 Oz Silver Coin | 0 | 0 | 100 | 0 | |
| 2016 Theodore Roosevelt 5 Oz Silver Coin* | – | 800 | – | ||
| 2016 Fort Moultrie 5 Oz Silver Coin | 0 | 0 | 0 | 0 | |
A person can go crazy following gold and silver.
That’s the fun of it. That is why I balance my gold and silver bullion stack with numismatic coins. Breaks up the grind of the fluctuating markets prices.
The 13,300 Platinum American Eagle one-ounce .9995 fine bullion version $100 coins released yesterday to the Mints 13 worldwide Authorized Purchasers increased in value today by a good amount. Platinum hit $1009 during day trading up almost $30 per ounce.
-NumisDudeTX
Mouse
I’ve been collecting both bullions and numismatic coins but just as a hobby and for the fun of it. It hasn’t been that long that I really started to look at the going price of gold and silver or spot prices. In other words I started being smarter about how I enjoy my hobby. Thanks for your view on the subject and yes, it is more fun to know what I’m doing now and know when to buy what.
Howdy Seth,
I started buying platinum bullion after you informed me you purchase when below a $1000 an ounce. I’ve made some good buys. I am impressed with the quality of the Perth mint and their platinum bullion. I missed the boat on palladium, kicken myself. Its below, but holding its own with platinum right now. I have a feeling it will spike fast and than drop just as fast. Its industrial application for its use in cell phones and diabetic products are exciting but I need to do more research into the mining of the element.
Mouse
CoinNews readers: FYI –
I forgot to post this on Friday! On January 20, inauguration day, US Mint Principal Deputy Director Matthew Rhett Jeppson resigned his position with the US Mint! Great news! Hope he moves on to a non-Mint job. Praise G-D. Happy New Year 5777.
-NumisDudeTX