Precious metals declined on Tuesday. The drops ranged from 0.2% for gold to 1.1% for both platinum and palladium. The losses for gold, silver and platinum were their first in three sessions. Palladium, meanwhile, extended its losing streak to two in a row.
Gold for August delivery shed $4.40 to settle at $1,894.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are modestly down in midday U.S. trading Tuesday, on some routine profit taking from the shorter-term futures traders. Still, the sellers are constrained by the still-bullish technical chart postures in place for both metals. However, the buyers of the safe-haven metals are tentative at present amid little risk aversion in the global market place," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,885.70 to a high of $1,906.90. They tacked on 0.4% on Monday. Last Wednesday at $1,909.90 an ounce they marked their highest settlement since Jan. 7.
Silver for July delivery fell 28.7 cents, or 1%, to close at $27.731 an ounce. Silver futures traded between $27.61 and $28.12. Like for gold, they gained 0.4% on Monday.
In other precious metals futures prices Tuesday:
July platinum gave back $12.30 to $1,162.50 an ounce, ranging from $1,155 to $1,179.
- Palladium for September delivery declined $30.70 to $2,807 an ounce, trading between $2,750 and $2,849.
US Mint Bullion Sales in 2021
United States Mint published 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||Last Week||March Sales||April Sales||May||This Week / June||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||55,500||38,500||20,500||4,000||430,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||0||0||31,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||20,000||0||0||0||56,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||55,000||0||0||0||150,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||33,500||11,000||44,000||1,000||167,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||4,087,000||1,053,000||0||0||13,106,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||35,000||0||40,000||0||75,000|
|Tuskegee Airmen 5 oz Silver Coin||0||0||N/A||50,000||2,900||0||52,900|