Gold Gains for 3rd Day, Ends at Another 4-Week High

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Precious metals performed as a group the same way for a second straight day with palladium ending lower and gold, silver and platinum finishing higher. Gold’s gain was actually its third in a row, and the yellow metal registered another, almost one-month high.

Gold for August delivery rose $4, or 0.2%, to settle at $1,829 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was again the highest since June 16 when gold ended at $1,861.40 an ounce.

It’s "difficult to determine the primary bullish force serving to lift gold and silver prices this week, but we suspect that persistent resiliency in U.S. Treasury bond prices [lower Treasury yields] are at the top of the list," analysts at brokerage Zaner wrote in a daily note reported by MarketWatch.

Gold futures ranged from a low of $1,820.60 to a high of $1,835. They advanced 0.8% on Wednesday, they inched 0.2% higher on Tuesday, and they shed 0.3% on Monday.

Silver for September delivery closed up 12.3 cents, or 0.5%, to end at $26.394 an ounce. Silver futures traded between $26.24 and $26.49. They moved up 0.5% on Wednesday, they declined 0.4% on Tuesday, and they edged up 0.02% on Monday.

In other precious metals futures on Thursday:

  • October platinum gained $9.60, or 0.9%, to $1,137.70 an ounce, ranging from $1,125.10 to $1,145.20.

  • Palladium for September delivery dropped $97, or 3.4%, to $2,729.30 an ounce, trading between $2,693 and $2,832.

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 This Week May June July 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 26,000 13,000 20,500 158,000 39,000 623,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 10,000 0 15,000 10,000 56,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 30,000 0 86,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 90,000 0 240,000
$50 American Buffalo 1 Oz Gold Coin 0 10,500 3,500 44,000 27,500 14,000 207,500
$1 American Eagle 1 Oz Silver Coin 0 849,000 690,000 0 2,800,000 1,539,000 17,445,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 40,000 0 0 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 0 2,900 0 0 52,900
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Kaiser Wilhelm

It states up above that “Precious Metals performed as a group.” I guess Gold, Silver and Platinum got the band back together, but their leader Palladium is holding back for now.

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Last edited 18 days ago by Kaiser Wilhelm
Kaiser Wilhelm

The above is a prime example of what happens when my “nightowlishness” takes over.

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Last edited 18 days ago by Kaiser Wilhelm