Precious metals futures finished mostly lower Tuesday. Palladium was the exception, posting another record close. Gold, meanwhile, logged a second day of losses after having advanced for eleven straight sessions.
Gold for February delivery declined $6.70, or 0.5%, to settle at $1,313.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Although gold may witness further losses in the short term amid U.S. rate hike expectations, the yellow metal still remains bullish on the daily charts above $1,300," MarketWatch quoted Lukman Otunuga, research analyst at FXTM, in a note Tuesday. "A weekly close above $1,320 could signal further upside with $1,333 acting as the next level of interest."
Gold futures traded from a low of $1,309.50 to a high of $1,321.40. They slipped 0.1% in starting the trading week on Monday.
Lower for a second straight day after rising for eight sessions, silver for March delivery fell 13.4 cents, or 0.8%, to settle at $17.01 an ounce. Silver futures ranged from $16.94 to $17.17. They lost 0.8% in the previous session.
In rounding out precious metals dealings Tuesday:
-
April platinum lost $4.10, or 0.4%, to $972.30 an ounce, trading between $964.40 and $977.
- Palladium for March delivery rose $2.25, or 0.2%, to $1,098.15 an ounce, ranging from $1,093.50 to $1,107.80. The finish marked a new all-time high.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $8.95, or 0.7%, to $1,311 an ounce.
- Silver fell 11.5 cents, or about 0.7%, to $17.055 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight
US Mint Bullion Sales in 2018
On Monday, Jan. 9, the U.S. Mint started accepting orders for 2018-dated American Eagle and Buffalo bullion coins. As typical for newly dated bullion editions, early sales are strong. They are, however, down from last year.
2018 sales of 1 oz. America Silver Eagles total 2,495,000 coins compared to the same time sales last year of 3,747,500 coins. Still, the two-day tally is already higher than all but one of the monthly totals in 2017.
A combined 33,000 ounces in American Gold Eagles sold versus the 73,500 ounces moved in the same time last year. The two-day total is higher than all but two of the monthly totals in 2017.
Lastly, American Buffalo gold coins total 13,000 ounces compared to the same time sales last year of 22,500 ounces. The two-day total is higher than all but three of the monthly totals in 2017.
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) | |||||
|---|---|---|---|---|---|
| This Week | Last Week | December | 2017 Sales | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 20,000 | 0 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 0 | 0 | 15,000 | 0 |
| $50 American Eagle 1 Oz Gold Coin | 19,500 | 0 | 38,000 | 228,500 | 19,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 9,000 | 0 | 3,000 | 37,000 | 9,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 18,000 | 0 | 4,000 | 64,000 | 18,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 45,000 | 0 | 25,000 | 395,000 | 45,000 |
| $50 American Buffalo 1 Oz Gold Coin | 13,000 | 0 | 14,000 | 99,500 | 13,000 |
| $1 American Eagle 1 Oz Silver Coin | 2,495,000 | 0 | 742,000 | 18,065,500 | 2,495,000 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 35,000 | 0 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 | 0 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 | 0 |
| 2017 Ellis Island 5 Oz Silver Coin* | 0 | 0 | 0 | 40,000 | 0 |
| 2017 George Rogers Clark 5 Oz Silver Coin | 0 | 0 | 0 | 32,400 | 0 |
