Gold Marks First Loss in Six Sessions

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Precious metals declined Thursday, logging losses ranging from 0.1% for gold to 1.3% for palladium. Gold’s loss was its first in six sessions, and follows a three-week settlement high.

Gold for August delivery gave back $1.90 to settle at $1,800.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Some early safe-haven buying amid a more uncertain marketplace late this week gave way to what appears to be some profit-taking from the shorter-term futures traders after recent gains," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,793.50 to a high of $1,819.50. They climbed 0.4% on Wednesday, for their highest settlement since June 16, and they rose 0.6% in the start to the trading week on Tuesday.

Silver for September delivery declined 14.2 cents, or 0.5%, to close at $25.987 an ounce. Silver futures traded between $25.87 and $26.31. They shed 0.2% on Wednesday and they fell 1.2% on Tuesday.

In other precious metals Thursday:

  • October platinum lost $7.40, or 0.7%, to $1,074.50 an ounce, ranging from $1,062.30 to $1,086.30.

  • Palladium for September delivery fell $38.10 to $2,810.20 an ounce, trading between $2,780.50 and $2,864.

US Mint Bullion Sales in 2021

The United States Mint published no bullion sales gains on Thursday. 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 Last Week March Sales April Sales May June July 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 55,500 38,500 20,500 158,000* 26,000 610,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 0 15,000* 0 46,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 0 0 30,000* 0 86,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 55,000 0 0 90,000* 0 240,000
$50 American Buffalo 1 Oz Gold Coin 0 0 33,500 11,000 44,000 27,500 6,500 200,000
$1 American Eagle 1 Oz Silver Coin 0 0 4,087,000 1,053,000 0 2,800,000* 849,000 16,755,500
$100 American Eagle 1 Oz Platinum Coin 0 0 35,000 0 40,000 0 0 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 N/A 50,000 2,900 0 0 52,900

 

*The U.S. Mint on Wednesday, July 7, adjusted June sales of American Gold Eagles with 1oz coins to 158,000 from 4,000; 1/2oz coins to 15,000 from 0; 1/4oz coins to 30,000 from 0 and 1/10oz coins to 90,000 from 0. The agency also lifted June sales of American Silver Eagles to 2.8 million from 0.

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Kaiser Wilhelm

Gold manages to take five steps forward with just one step back… nothing to sneeze at.

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Last edited 26 days ago by Kaiser Wilhelm