Palladium notched another fresh record Tuesday — its second in a row, while gold, silver and platinum finished lower on the day. Gold and silver ended at two-week lows.
Gold for December delivery lost $14.10, or 0.9%, to close at $1,483.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Sept. 30.
"A rally in the U.S. stock market is pressuring the precious metals today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
"Risk aversion is not at all keen Tuesday despite traders and investors backing off on their initial upbeat assessment of the U.S.-China ‘Phase 1’ trade agreement reached last week, and which has yet to be signed," Wyckoff added.
Gold futures ranged from a low of $1,480.80 to a high of $1,503. They settled up 0.6% on Monday.
Silver for December delivery dropped 32.6 cents, or 1.8%, to close at $17.384 an ounce. The close was the weakest since Oct. 1. Silver futures traded between $17.37 and $17.77. They gained 1% on Monday.
In other precious metals futures Tuesday:
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January platinum fell $10.20, or 1.1%, to $889.20 an ounce, ranging from $887 to $906.90.
- Palladium for December delivery tacked on $9.60, or 0.6%, to a new record settlement of $1,696.60 an ounce. Palladium traded between $1,676.20 and $1,706.20.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $2.80, or 0.2%, to $1,487.80 an ounce.
- Silver added 6.5 cents, or 0.4%, to $17.67 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
United States Mint bullion coins registered their first gains of the week with gold sales rising by a combined 8,500 ounces and silver sales advancing by a combined 392,000 ounces.
Below is a sales breakdown of U.S. Mint 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 / This Week | Last Week | September | October | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 4,500 | 2,000 | 3,500 | 8,000 | 98,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 0 | 1,000 | 1,000 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 2,000 | 4,000 | 34,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 10,000 | 10,000 | 20,000 | 190,000 |
| $50 American Buffalo 1 Oz Gold Coin | 3,000 | 0 | 2,500** | 3,000 | 55,000 |
| $1 American Eagle 1 Oz Silver Coin | 389,500 | 255,000 | 1,021,000 | 924,500 | 14,214,000 |
| San Antonio Missions 5 Oz Silver Coin | 500 | 12,500 | 37,700 | 17,500 | 55,200 |
| War in the Pacific 5 Oz Silver Coin | 0 | 500 | 2,500 | 500 | 72,500 |
| American Memorial Park 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 80,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | |||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 40,000 | |||
**The U.S. Mint on Tuesday increased the September total of American Buffalo sales to 2,500 ounces from 1,000 ounces.
