Gold Dips and Silver Rises Thursday, Jan. 21

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Gold and palladium traded lower Thursday while silver and platinum registered their third straight day of gains.

Gold for February delivery shed 60 cents, or 0.03%, to settle at $1,865.90 an ounce on the Comex division of the New York Mercantile Exchange.

"It is nothing more than some simple profit taking after the recent rally prompted by expectations for further stimulus coming from the Biden (administration)," Reuters quoted David Meger, director of metals trading at High Ridge Futures. "However, the prospect of further stimulus along with a weaker dollar continues to support gold in the bigger picture perspective.&quot

Gold futures ranged from a low of $1,857.50 to a high of $1,874.60. They rose 1.4% on Wednesday for their best settlement since Jan. 7, and they gained 0.6% in starting the trading week on Tuesday.

Silver for March delivery settled up 8.8 cents, or 0.3%, to $25.854 an ounce. Silver futures traded between $25.70 and $26.13. They advanced 1.8% on Wednesday and on Tuesday.

In other precious metals futures on Thursday:

  • April platinum gained $11.60, or 1%, to $1,128 an ounce, ranging from $1,105.80 and $1,163.40.

  • Palladium for March delivery declined $28.10, or 1.2%, to $2,375.10 an ounce, trading between $2,365.50 and $2,414.50.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold added $5.50, or 0.3%, to $1,862.10 an ounce.
  • Silver was unchanged at $25.295 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Thursday by 100,000 ounces in silver coins and a combined 45,500 ounces in gold coins.

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)
Thursday / This Week Last Week December 2020 Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 16,000 72,500 48,500 747,500 132,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 70,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 6,000 0 106,000 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 35,000 0 350,000 95,000
$50 American Buffalo 1 Oz Gold Coin 29,500 6,000 10,500 242,000 56,000
$1 American Eagle 1 Oz Silver Coin 100,000 1,875,000 751,000 30,089,500 4,775,000
America Samoa 5 oz Silver Coin* 0 0 0 45,000 0
Weir Farm 5 oz Silver Coin* 0 0 0 45,000 0
Salt River Bay 5 oz Silver Coin* 0 0 0 45,000 0
Marsh Billings 5 oz Silver Coin* 0 0 0 45,000 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 45,000 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 56,500 0
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Jake

Silver was unchanged at $25.295 an ounce. Hey ladies and germs from across the pond. Enlighten me as to why silver is priced to the thousandth? Thank you!

Jake

Oh jeez WELL deep subject for shallow minds I guess!

Kaiser Wilhelm

Your observation prompted me to venture a look at the current London Fix price for silver, and much to my surprise I found that it is in fact posted to the the TEN thousandth of an ounce. My only guess as to why this would be the case is that since silver is valued so very significantly lower than the other precious metals, to be able to indicate a variation in its price that is even remotely discernible apparently necessitates the utilization of that many decimal places.

Last edited 7 months ago by Kaiser Wilhelm
Jake

I have an eye for the little things. Like I said before, the Penny has tremendous value.