Gold Declines Modestly on Thursday, Aug. 12


Platinum moved ahead slightly on Thursday while gold, silver and palladium declined. Losses for gold and silver were their first in three sessions.

Gold for December delivery shed $1.50, or 0.09%, to settle at $1,751.80 an ounce on the Comex division of the New York Mercantile Exchange.

"The gold bears still have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $1,800.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at this week’s low of $1,676.40," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,744.70 to a high of $1,759.60. They gained 1.3% on Wednesday, they rose 0.3% on Tuesday, and they fell 2.1% on Monday, finishing at their lowest level since March 31.

Silver for September delivery dropped 37.2 cents, or 1.6%, to end at $23.116 an ounce. Silver futures traded between $22.97 and $23.53. They rose 0.4% on Wednesday, they gained 0.5% on Tuesday, and they tumbled 4.4% on Monday.

In other precious metals prices Thursday:

  • October platinum rose $2.10, or 0.2%, to $1,017.70 an ounce, ranging from $1,004 to $1,023.

  • Palladium for September delivery declined $8.90, or 0.3%, to $2,623.90 an ounce, trading between $2,615 and $2,658.

US Mint Bullion Sales in 2021

The United States Mint published their first bullion sales of the week. Increases on Thursday included a combined 38,500 ounces in American Gold Eagles; 11,500 ounces in American Gold Buffalos; and 968,500 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)
Thursday / This Week Last Week June July August 2021 Sales
$50 American Eagle 1 Oz Gold Coin 37,000 15,500 158,000 49,500 52,500 686,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 15,000 10,000 0 56,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 30,000 0 0 86,000
$5 American Eagle 1/10 Oz Gold Coin 15,000 15,000 90,000 40,000 30,000 310,000
$50 American Buffalo 1 Oz Gold Coin 11,500 3,000 27,500 14,500 14,500 222,500
$1 American Eagle 1 Oz Silver Coin 968,500 612,500 2,800,000 3,104,000 1,581,000 20,591,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900


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Mark D.

Hilarious. I saw it too, but as a recovering word fetishist, I bit my texting digits and slammed several shots of straight iced tea. One word at a time, Comrade, one word at a time. However, I’m now overcome with an urge to mention that I would have phrased it, “…demurely declined.” Does this mean I’ve fallen off the typewriter carriage? I need to brew a kettle of tea and freeze some water…

Mark D.

As you’re well aware, Cinderella is royalist propaganda. Everything her Wiccan godmother transforms for her turns back to base material at midnight, right? If that were true then how would the illegitimate, rule-by-divine-fiat, dynastic, tainted-blood-line heir to the throne be able to collect her “glass” slipper and then try fitting it to a matching foot? The slipper would be a filthy rag, not glass, not crystal, not Nike. The tale is a romanticized precursor to The Hunger Games, where some lucky one of millions actually gets to eat, and maybe survive another day. But I rant…

Last edited 10 months ago by Mark D.
Mark D.

Thanks a lot Kaiser Ha-Ha! Now I have to change my Depends. Again. As a good friend of mine once remarked (relatively new to Englishing), “You crack up my ass!”

Which raises this oft-thought query:
How did BUTTer get its name? Did Archduke Ferdinand have flat feet? What does “pole position” mean in Poland? Can one use spurious Spanish Fly on horses!

Mark D.

Now I remember. You were that bare-assed Kaiser cavorting in the mud at Yasgur’s farm! Far out.