Gold and Silver End Lower Tuesday, June 22

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Platinum and palladium climbed for a second straight day Tuesday while gold and silver declined slightly. Gold’s loss was its third in four sessions.

Gold for August delivery gave back $5.50, or 0.3%, to settle at $1,777.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, August gold futures bears have the overall near-term technical advantage. A three-week-old price downtrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $1,826.40. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,700.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,771.20 to a high of $1,790.10. They rose 0.8% on Monday.

Silver for July delivery shed 16.8 cents, or 0.7%, to $25.857 an ounce. Silver futures traded between $25.73 and $26.09. They edged up 0.2% on Monday.

In other precious metals futures prices on Tuesday:

  • July platinum added $19.60, or 1.9%, to $1,070.20 an ounce, ranging from $1,049.50 to $1,072.80.

  • Palladium for September delivery inched up 60 cents, or 0.02%, to $2,558.90 an ounce, trading between $2,535 and $2,607.

US Mint Bullion Sales in 2021

The United States Mint published no bullion sales 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 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 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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Kaiser Wilhelm

It would be rather disheartening to see silver break downwards through the $25 level.

Last edited 1 month ago by Kaiser Wilhelm