Precious Metals Begin July with Gains

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Precious metals prices changed little Thursday, the first trading day of July and following across-the-board metal losses in June.

Gold for August delivery added $5.20, or 0.3%, to settle at $1,776.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, the gold bears have the overall near-term technical advantage. A four-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 $1,800.00. 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 $1,765.90 to a high of $1,782.70. They rose 0.5% on Wednesday, closing out the month of June with a 7% loss.

Silver for September delivery declined 9.4 cents, or 0.4%, to finish at $26.10 an ounce. Silver futures traded between $26.04 and $26.53. They moved up 1.1% on Wednesday, marking a 6.5% fall in June.

In other precious metals prices Thursday:

  • October platinum rose $8, or 0.8%, to $1,080.90 an ounce, ranging from $1,059.80 to $1,094.50.

  • Palladium for September delivery fell $10.30, or 0.4%, to $2,768.90 an ounce, trading between $2,751 and $2,802.

US Mint Bullion Sales in 2021

The United States Mint has not published American Eagle bullion sales gains for more than two weeks. 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)
Thursday / 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 27,500* 193,500
$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

*The U.S. Mint today adjusted June sales of American Buffalo gold coins to 27,500 ounces from 7,000 ounces, lifting their 2021 total to 193,500 ounces.

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