Gold Rises Slightly as U.S. Inflation Marks Near 13-Year High

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All but platinum advanced in precious metals trading Thursday. Gains in gold and silver were their fourth in five sessions while palladium’s increase was its first in four sessions.

Gold for August delivery climbed 90 cents, or 0.05%, to settle at $1,896.40 an ounce on the Comex division of the New York Mercantile Exchange.

"The key takeaway (from the inflation data) is that this market is firmly believing that the U.S. Federal Reserve is not going to change stance anytime soon and the (accommodative policy) playbook for gold remains," Reuters quoted Edward Moya, senior market analyst at OANDA.

U.S. consumer prices increased 0.6% in May, the government reported Thursday, with 12-month inflation jumping 5% for the biggest gain since August 2008.

Gold futures ranged from a low of $1,871.80 to a high of $1,897.90. They edged up 0.06% on Wednesday, they dipped 0.2% on Tuesday, and they tacked on 0.4% on Monday. Just a week ago Wednesday, June 2, gold at $1,909.90 an ounce marked its highest settlement since Jan. 7.

Silver for July delivery advanced 2.9 cents, or 0.1%, to close at $28.031 an ounce. Silver futures traded between $27.47 and $28.10. They gained 1% on Wednesday, they fell 1% on Tuesday, and they rose 0.4% on Monday.

In other precious metals futures prices Thursday:

  • July platinum lost $5.80, or 0.5%, to $1,146 an ounce, ranging from $1,127 to $1,152.50.

  • Palladium for September delivery added $4.90, or 0.2%, to $2,777.70 an ounce, trading between $2,736 and $2,786.

US Mint Bullion Sales in 2021

United States Mint published bullion sales were unchanged Thursday. 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 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
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Seth Riesling

Inflation in the USA is at a near 13-year high as reported today & yet gold futures only went up 90-cents an ounce??!! Strange…

NumisdudeTX

Seth Riesling

The Fed is doing something – just not sure what is up their sleeve…

NumisdudeTX

Mark D.

I don’t think it’s covert, per se. It’s in the public square for all to see, but it’s written in financial cuneiform, i.e., Basel 3.

And it’s not just the Fed, it’s ALL the big banks, sovereign, commercial and otherwise.

Numismatic News has featured several articles on Basel 3 recently, of which I feel lucky to understand 20%. But even with that limited understanding I sense a disturbance in the Force.

“These are not the bitcoins you’re looking for…”

Look, my namesake currency!

400px-100-Billionen-Geldschein.jpg
Mark D.

Two things:

A.
Cogent, well-versed and thought-provoking commentary.

Next:
I never knew Kool-Aid came in that flavor, but I’m not surprised

3.
That stack of boulders (or, whatever) on Zimbabwe currency always reminds of the molten boulder creature on Star Trek (Yarnek, The Savage Curtain), as well as the boulder, boss muppet on early SNL episodes.

Fifth:
Have ever seen a photo of one of those legendary German homes with currency used for wallpaper?

Also:
Do you know of any actual surviving examples, or recreations of a money room?