Precious Metals Settle Higher in August Start

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Precious metals notched gains in their start to the new trading month on Monday. The increases ranged from 0.1% for silver to 1.1% for palladium.

Gold for December delivery rose $5, or 0.3%, to settle at $1,822.20 an ounce on the Comex division of the New York Mercantile Exchange.

"There’s a slight lesser need for safe havens as the equity markets are surging once again," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

"However, the underlying premises post (the) Federal Reserve meeting is an environment that is conducive to the yellow metal moving forward."

Gold futures ranged from a low of $1,808.20 to a high of $1,823.20. They ended 1% lower on Friday but still posted gains of 0.9% last week and 2.6% for July.

Silver for September delivery moved ahead 2.8 cents to settle at $25.575 an ounce. Silver futures traded between $25.34 and $25.68.

In other precious metals prices on Monday:

  • October platinum added $7.90, or 0.8%, to $1,056.30 an ounce, ranging from $1,046 to $1,065.90.

  • Palladium for September delivery added $27.90 to $2,684.10 an ounce, trading between $2,654 and $2,696.50.

US Mint Bullion Sales in 2021

Published U.S. Mint bullion sales increased Monday by 14,500 ounces in American Gold Eagles and by 612,500 ounces in American Silver Eagles.

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)
Monday Last Week May June July 2021 Sales
$50 American Eagle 1 Oz Gold Coin 13,000 6,000 20,500 158,000 49,500 647,000
$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 15,000 40,000 0 90,000 40,000 295,000
$50 American Buffalo 1 Oz Gold Coin 0 500 44,000 27,500 14,500 208,000
$1 American Eagle 1 Oz Silver Coin 612,500 760,000 0 2,800,000 3,104,000 19,623,000
$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

What with all the silver I have and the monumental 2.8 cents an ounce increase in its value, I think it may be just about time to retire into the lap of luxury once again.

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Last edited 1 month ago by Kaiser Wilhelm