Gold Rises Modestly Tuesday, July 27

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Gold prices climbed slightly Tuesday after ending near a three-week low on Monday. Silver, platinum and palladium, however, posted sharp daily losses.

Gold for August delivery edged up 60 cents, or 0.03%, to settle at $1,799.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold saw limited selling interest amid a drop in the U.S. dollar index on this day, but silver got no benefit. In focus is the two-day meeting of the Federal Reserve’s Open Market Committee (FOMC) that began Tuesday morning and ends Wednesday afternoon with a statement," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,792.80 to a high of $1,805.40. They dipped 0.1% on Monday, marking their lowest settlement since July 6.

Silver for September delivery dropped 66.9 cents, or 2.6%, to close at $24.649 an ounce. Silver futures traded between $24.51 and $25.32. They rose 0.3% on Monday.

In other precious metals futures prices Tuesday:

  • October platinum declined $20.50, or 1.9%, to $1,049.50 an ounce, ranging from $1,044 to $1,069.20.

  • Palladium for September delivery fell $71.40, or 2.7%, to $2,606.70 an ounce, trading between $2,587.50 and $2,670.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Tuesday by 760,000 ounces in silver coins and 10,500 ounces in gold coins.

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 / This Week Last Week May June July 2021 Sales
$50 American Eagle 1 Oz Gold Coin 6,000 4,500 20,500 158,000 49,500 634,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 15,000 10,000 56,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 30,000 0 86,000
$5 American Eagle 1/10 Oz Gold Coin 40,000 0 0 90,000 40,000 280,000
$50 American Buffalo 1 Oz Gold Coin 500 0 44,000 27,500 14,500 208,000
$1 American Eagle 1 Oz Silver Coin 760,000 805,000 0 2,800,000 3,104,000 19,010,500
$100 American Eagle 1 Oz Platinum Coin 0 0 40,000 0 0 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 2,900 0 0 52,900

 

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Kaiser Wilhelm

Gold rises modestly. First thing in the morning always dons a demure dressing gown.

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Last edited 1 month ago by Kaiser Wilhelm