After experiencing across-the-board gains on Monday, precious metals showed divergent trends on Tuesday, with silver and platinum rising while gold and palladium fell.
Gold for August delivery declined by $10, or 0.5%, to settle at $1,923.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Lower crude oil prices and rising U.S. Treasury yields are driving the yellow metal down today amid a lack of major fresh fundamental news,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,919.80 and $1,940.30, after rising by 0.2% on Monday.
Climbing for a second day in a row following five straight losses, silver for July delivery advanced by 13.4 cents, or 0.6%, to close at $22.96 an ounce.
Silver prices ranged from $22.78 to $23.15, after increasing on Monday by 2.1%. On Friday, silver ended at $22.354 an ounce for its weakest settlement since March 16.
In other precious metals prices on Tuesday:
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October platinum — the new, most-active contract — added $1.10, or 0.1%, to $932.90 an ounce, trading between $922.70 and $942.
- Palladium for September delivery fell by $8.60, or 0.7%, to $1,294.10 an ounce, ranging from $1,286 to $1,321.50. On Thursday, palladium settled at $1,272.60 an ounce for its lowest close since January 2019.
US Mint Bullion Sales in 2023
The U.S. Mint reported no bullion sales gains on Tuesday. On Monday, the Mint reported gains for only the second time this month, following additions made on June 13.
The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tuesday | Last Week | This Week | March | April | May | June | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 13,500 | 211,000 | 159,500 | 60,500 | 29,500 | 620,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 8,000 | 18,000 | 1,000 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 10,000 | 12,000 | 32,000 | 4,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 45,000 | 10,000 | 35,000 | 80,000 | 60,000 | 385,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 7,000 | 73,000 | 61,000 | 47,000 | 14,000 | 273,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 530,000 | 900,000 | 900,000 | 1,593,000 | 1,25,500 | 9,497,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 7,500 | 500 | 1,200 | 3,500 | 12,700 |
