Gold Extends 1-Month Settlement Low

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Precious metals prices declined on Tuesday for all but palladium which climbed 0.3%. Gold’s fall was its third straight, extending its one-month settlement low.

Gold for August delivery declined $9.50, or 0.5%, to settle at $1,856.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since gold ended May 14 at $1,838.10 an ounce.

"There’s growing nervousness about rising inflation and the feeling in precious metal markets is that central banks have to start to respond a bit more aggressively to these inflationary pressures," Reuters quoted Edward Meir, and analyst at ED&F Man Capital Markets.

Gold futures ranged from a low of $1,853 to a high of $1,870.90. They lost 0.7% on Monday.

Silver for July delivery fell 34.6 cents, or 1.2%, to finish at $27.693 an ounce. Silver futures traded between $27.48 and $28.03. They dipped 0.4% on Monday.

In other precious metals futures prices Tuesday:

  • July platinum declined $16.70, or 1.4%, to $1,148.60 an ounce, ranging from $1,146 to $1,169.40.

  • Palladium for September delivery added $8.20 to $2,764.80 an ounce, trading between $2,740 and $2,769.

US Mint Bullion Sales in 2021

The United States Mint published no sales gains on Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Tuesday / This Week Last Week March Sales April Sales May June 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 4,000 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 7,000 33,500 11,000 44,000 7,000 173,000
$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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