Gold Logs First Loss in 5 Sessions; Silver Extends 2-1/2-Month High

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Silver marked another two-and-a-half-month high Tuesday while gold, platinum and palladium declined. Gold’s loss was its first in five sessions following a three-month settlement high.

Gold for June delivery shed $1.50, or 0.08%, to settle at $1,836.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, June gold futures bulls have the firm overall near-term technical advantage. A six-week-old price uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $1,881.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,775.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,824.90 to a high of $1,842.50. They rose 0.3% on Monday, for their highest settlement since Feb. 10.

Silver for May delivery tacked on 17.5 cents, or 0.6%, to settle at $27.667 an ounce. The close was the highest since Feb. 25 when silver finished at $27.685 an ounce. Silver futures traded between $27.18 and $27.70.

In other precious metals futures Tuesday:

  • July platinum fell $24.30, or 1.9%, to $1,241.20 an ounce, ranging from $1,216 to $1,256.10.

  • Palladium for June delivery lost $42, or 1.4%, to $2,926.20 an ounce, trading between $2,910.50 and $2,986.50. A week ago Monday, May 3, palladium scored a record settlement of $2,981.40 an ounce.

US Mint Bullion Sales in 2021

The United States Mint has yet to report any bullion sales for May. 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 / Week / May Last Week February Sales March Sales April Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 121,000 55,500 38,500 406,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 9,000 0 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 20,000 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 55,000 0 150,000
$50 American Buffalo 1 Oz Gold Coin 0 0 16,000 33,500 11,000 122,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,191,500 4,087,000 1,053,000 13,106,500
$100 American Eagle 1 Oz Platinum Coin 0 0 N/A 35,000 0 35,000
Tuskegee Airmen 5 oz Silver Coin 0 0 N/A N/A 50,000 50,000
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Kaiser Wilhelm

Looks like silver will take a while to match palladium’s getting to the $3000 an ounce level.

Last edited 4 months ago by Kaiser Wilhelm
Kaiser Wilhelm

This is one big honker of a gold coin. Nominal value of 10,000 British Pounds, weight of 10 Kilos, pure gold content of $570,000-plus, and machine and hand tool carved (not struck).

10 Kilo Gold Coin.jpg
Last edited 4 months ago by Kaiser Wilhelm
Kaiser Wilhelm

Considering all that sculpting was done manually, it’s really an impressive piece of work.

Last edited 4 months ago by Kaiser Wilhelm