In precious metals futures action Tuesday, gold and palladium climbed for a second straight session — with the latter hitting a new six-month high — while platinum declined for a second day in a row. Silver, meanwhile, rose to an almost one-month high after sliding modestly on Monday.
Gold for December delivery rose 70 cents, or less than 0.1%, to settle at $1,205.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and many other markets are in a holding pattern ahead of the Federal Reserve’s Open Market Committee (FOMC) meeting decision Wednesday afternoon," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A slightly lower U.S. dollar index today prompted some buying interest in the metals."
Gold futures ranged from a low of $1,201.30 to a high of $1,207.90. They moved up 0.3% on Monday.
Silver for December delivery settled up 15.2 cents, or 1.1%, to $14.493 an ounce. The finish was the strongest since Aug. 31 when silver ended at $14.557 an ounce. Silver futures traded between $14.25 and $14.60. They slipped 0.1% on Monday.
In other precious metals futures on Tuesday:
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October platinum lost $6.40, or 0.8%, to $822.90 an ounce, ranging from $822.40 to $833.90.
- Palladium for December delivery tacked on $6.40, or 0.2%, to $1,053.80 an ounce — its best settlement since Feb. 26 when ending at $1,054.45 an ounce. The precious metal traded between $1,041.70 and $1,058.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined 85 cents, or less than 0.1%, to 1,201.90 an ounce.
- Silver fell 2.5 cents, 0.2%, to $14.29 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
United States Mint bullion products increased by a combined 5,000 ounces in American Eagle and Buffalo gold coins and by 395,000 ounces in American Silver Eagles.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Tuesday | Last Week | This Week | August | September | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 2,500 | 1,500 | 3,500 | 17,500 | 14,500 | 151,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 4,000 | 1,000 | 23,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 4,000 | 4,000 | 58,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 10,000 | 40,000 | 200,000 |
| $50 American Buffalo 1 Oz Gold Coin | 2,500 | 0 | 2,500 | 20,000 | 9,000 | 107,000 |
| $1 American Eagle 1 Oz Silver Coin | 395,000 | 925,000 | 470,000 | 1,530,000 | 2,432,500 | 11,670,000 |
| Pictured Rocks 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 30,000 |
| Apostle Islands 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 30,000 |
| Voyageurs 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 30,000 |
| Cumberland Island 5 Oz Silver Coin | 0 | 1,500 | 0 | N/A | 52,500 | 52,500 |
