Precious metals moved in opposite directions Tuesday compared to Monday with gold rising and silver, platinum and palladium falling
Gold for August delivery rose $4, or 0.2%, to settle at $1,809.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Going forward, gold may remain somewhat volatile as markets will likely have a difficult time digesting domestic inflation and reopening data while also considering the potential threats of COVID worldwide," MarketWatch quoted Jason Teed, co-portfolio manager of the Gold Bullion Strategy Fund and also director of research at Flexible Plan Investments, Ltd.
U.S. consumer prices increased 0.9% in June, the government reported Tuesday. The level marked the biggest gain since June 2008. Annual inflation, meanwhile, surged 5.4%, for the largest increase since August 2008.
Gold futures ranged from a low of $1,798.70 to a high of $1,818. They shed 0.3% on Monday. On Friday at $1,810.60 an ounce, they ended at their best price since June 16.
Silver for September delivery declined 9.9 cents, or 0.4%, to finish at $26.14 an ounce. Silver futures traded between $26 and $26.44. They edged up 0.02% on Monday.
In other precious metals futures on Tuesday:
October platinum fell $11.80, or 1.1%, to $1,111.20 an ounce, ranging from $1,100.20 to $1,122.
- Palladium for September delivery gave back $26.80, or 0.9%, to $2,832.50 an ounce, trading between $2,822.50 and $2,658.
US Mint Bullion Sales in 2021
The United States Mint published bullion sales gains of 500 ounces in American Gold Buffalos. 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||Last Week||This Week||April Sales||May||June||July||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||26,000||11,000||38,500||20,500||158,000||37,000||621,500|
|$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||0||0||0||30,000||0||86,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||0||90,000||0||240,000|
|$50 American Buffalo 1 Oz Gold Coin||500||10,500||500||11,000||44,000||27,500||11,000||204,500|
|$1 American Eagle 1 Oz Silver Coin||0||849,000||513,000||1,053,000||0||2,800,000||1,362,000||17,268,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||40,000||0||0||75,000|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||50,000||2,900||0||0||52,900|