Gold Ends Tuesday, June 29, at 2.5-Month Low

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Precious metals posted losses Tuesday that ranged from 0.7% for palladium to 2.6% for platinum. Gold marked its lowest close in two-and-a-half months.

Gold for August delivery shed $17.10, or 1%, to settle at $1,763.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since gold ended April 14 at $1,736.30 an ounce.

"The safe-haven metals are being pressured by bearish near-term technical charts and not much risk aversion in the marketplace at present," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,750.10 to a high of $1,779.20. They rose 0.2% on Monday.

Silver for September delivery — the new, most-active contract — fell 35.3 cents, or 1.3%, to settle at $25.901 an ounce. The finish was the lowest since last Tuesday, June 22. Silver futures traded between $25.58 and $26.24. They climbed 0.5% on Monday.

In other precious metal prices Tuesday:

  • October platinum declined $28.90 to $1,070.60 an ounce, ranging from $1,060 to $1,097.70.

  • Palladium for September delivery lost $18.20 to $2,681.20 an ounce, trading between $2,663.50 and $2,699.50.

US Mint Bullion Sales in 2021

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’s clear that analysts of the precious metals market influence the buyers and sellers of said commodities, so when these same analysts subsequently comment on the trends their predictions have helped bring about, aren’t they then in effect analyzing themselves?

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Last edited 2 months ago by Kaiser Wilhelm
Mark D.

Masturbanalyzing?

Kaiser Wilhelm

It’s said that the by far most powerful sexual organ of the human body is the brain.

Last edited 2 months ago by Kaiser Wilhelm
Kaiser Wilhelm

Then again, the impetus to lose your mind over a shiny gold coin may rule.

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Last edited 2 months ago by Kaiser Wilhelm
Kaiser Wilhelm

And before long there’s no room left for anything else in your noggin.

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Kaiser Wilhelm

And with all that gold in your head you may end up looking like this…

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Last edited 2 months ago by Kaiser Wilhelm
Kaiser Wilhelm

Or, worst case scenario, this is what may happen to you…

Whatever happened to gold coins being sufficient?

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Last edited 2 months ago by Kaiser Wilhelm