Precious metals futures closed lower for a second straight day Tuesday, led by silver and followed by gold.
Gold for December delivery declined $16.80, or 1.3%, to settle at $1,286.20 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since Oct. 9.
"A good rebound in the U.S. dollar index today was a bearish outside-market factor. Profit taking by the shorter-term futures traders was also featured," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "Pre-placed sell stop orders in the gold and silver futures markets were also triggered today when near-term chart support levels were breached."
Gold futures traded from a low of $1,283.20 to a high of $1,298.40. They dipped 0.1% on Monday.
Silver for December delivery dropped 32.8 cents, or 1.9%, to finish at $17.041 an ounce. The settlement is also the lowest since Oct. 9. Silver futures ranged from $16.98 to $17.28. They shed 0.2% in the previous session.
In rounding out precious metals trading:
-
January platinum fell $7.30, or 0.8%, to $934.80 an ounce, trading between $929 and $935.60.
- Palladium for December delivery edged down 35 cents, or less 0.1%, to $975.95 an ounce, ranging from $969.40 to $987.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $18.55, or 1.4%, to 1,284.75 an ounce.
- Silver lost 30 cents, or 1.7%, to $17.11 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2017
United States Mint bullion sales climbed by 1,000 ounces in American Gold Eagles. 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 | Last Week | September | October | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 0 | 15,000 | 0 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 3,000 | 8,000 | 7,500 | 177,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 2,000 | 32,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 2,000 | 58,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 25,000 | 20,000 | 350,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 1,000 | 1,500 | 3,500 | 80,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 150,000 | 320,000 | 750,000 | 16,648,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ellis Island 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 40,000 |
