Gold Edges Higher Tuesday, July 13

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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
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