Precious metals kicked off the new trading month on Tuesday with gains ranging from less than 0.1% for gold to 1.6% for platinum.
Gold for December delivery inched up 30 cents, or 0.02%, to settle at $1,978.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the best since Aug. 18.
"The precious metals are being lifted in part by a wilting U.S. dollar index that today hit another two-year low," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,971.30 to a high of $2,001.20. They climbed 0.2% on Monday, logging an August decline 0.4%.
Silver for September delivery rose 5.1 cents, or nearly 0.2%, to close at $28.645 an ounce. Silver futures traded between $28.34 and $29.235. They surged 2.9% on Monday, registering an August increase of 18.1%.
In other precious metals prices Tuesday:
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October platinum finished up $14.80 to $952.70 an ounce, ranging from $935.10 to $970.50.
- Palladium for December delivery gained $31.80, or 1.4%, to $2,311.10 an ounce, trading between $2,264.20 and $2,344.70.
Last month platinum advanced 2.1% and palladium rallied 6.3%.
London Precious Metals Prices (LBMA)
London market closed Monday for Summer Bank Holiday. In comparing London gold and silver prices from Friday PM to Tuesday PM:
- Gold added $15, or 0.8%, to $1,972.35 an ounce.
- Silver tacked on $1.535, or 5.6%, to $28.885 an ounce.
In LBMA results last month, prices fell 0.4% for gold while they gained 13.6% for silver, 2.8% for platinum, and 5.4% for palladium.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Tuesday. 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 / Sept. | Last Week | June | July | August | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 42,500 | 107,500 | 86,000 | 521,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 2,000 | 4,000 | 6,000 | 51,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 10,000 | 12,000 | 76,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 35,000 | 30,000 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 7,500 | 30,000 | 22,500 | 178,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 1,398,000 | 1,084,500 | 2,593,000 | 16,294,000 |
| America Samoa 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Weir Farm 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Salt River Bay 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Marsh Billings 5 oz Silver Coin* | 0 | 0 | 0 | 45,000 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 56,500 |
