Gold Ends Tuesday, July 6, at 3-Week High

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Gold and palladium kicked off the new trading week on Tuesday with gains while silver and platinum declined. U.S. markets closed Monday in observance of Independence Day. Gold ended the day at a three-week high.

Gold for August delivery advanced $10.90, or 0.6%, to close at $1,794.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 16.

"Investors are realizing that monetary policy will remain historically very loose and that’s one of the reasons why we’re seeing bond yields go down, which is helping stabilize gold prices after falling sharply in June," Reuters quoted Fawad Razaqzada, analyst with ThinkMarkets.

Gold futures ranged from a low of $1,784.70 to a high of $1,815.70. They edged 0.3% higher last week.

Silver for September delivery fell 32.7 cents, or 1.2%, to settle at $26.174 an ounce. Silver futures traded between $26.10 and $26.91. They gained 1.6% last week.

In other precious metals futures prices Tuesday:

  • October platinum dipped $3.70, or 0.3%, to $1,084 an ounce, ranging from $1,075.50 to $1,118.

  • Palladium for September delivery edged up $3.60, or 0.1%, to $2,796.10 an ounce, trading between $2,770 and $2,883.

Last week platinum lost 1.4% while palladium soared 5.9%.

US Mint Bullion Sales in 2021

The United States Mint has not published American Eagle bullion sales for over three 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)
Tuesday/ July 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

 

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Seth Riesling

The U.S. Mint is simply not reporting bullion version coin sales recently for some nefarious reason. The Mint’s bullion coin Authorized Purchasers companies were able on July 1 to pick up at the West Point Mint (NY), the new reverse design silver & gold American Eagle bullion coins. They are physically available right now at select coin dealers.

NumisdudeTX

Kaiser Wilhelm

The long con continues, Seth, and nefarious is as good a word as any to describe the unscrupulous behind-the-scenes goings-on at the Mint. Some things never change.

Last edited 27 days ago by Kaiser Wilhelm
Kaiser Wilhelm

It’s occurs to me that the accumulation of capital is somewhat akin to the behavior of matter according to the laws of gravity. As a pool of money grows ever larger it behaves similar to a growing mass of matter in space that accrues ever more material toward it at an ever quicker pace, which is to say that the more money there is in one place the faster ever bigger amounts of additional money tend to be attracted to it.

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Last edited 26 days ago by Kaiser Wilhelm