Precious Metals Fall Tuesday, Aug. 17

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Precious metals moved lower Tuesday, posting declines ranging from 0.1% for gold to 3.9% for palladium. Losses for gold and silver, while modest, were their first in three sessions.

Gold for December delivery settled down $2 to $1,787.80 an ounce on the Comex division of the New York Mercantile Exchange.

"U.S. Treasury yields are giving gold a little bit of cover, and we’re seeing a higher probability of inflation without rising interest rates," Reuters quoted Daniel Pavilonis, senior market strategist at RJO Futures.

Gold futures ranged from a low of $1,782.10 to a high of $1,797.60. They gained 0.7% on Monday, for their best close since Aug. 5.

Silver for September delivery shed 13.2 cents, or 0.6%, to finish at $23.659 an ounce. Silver futures traded between $23.56 and $23.96. They rose 0.5% on Monday.

In other precious metals futures prices Tuesday:

  • October platinum fell $27.30, or 2.7%, to $993.80 an ounce, ranging from $988.10 to $1,028.

  • Palladium for September delivery declined $102.10 to $2,495.60 an ounce, trading between $2,482.50 and $2,610.50.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Tuesday by a combined 14,500 ounces in American Gold Eagles and by 156,000 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)
Tuesday Last Week This Week June July August 2021 Sales
$50 American Eagle 1 Oz Gold Coin 11,500 40,000 25,000 158,000 49,500 80,500 714,500
$25 American Eagle 1/2 Oz Gold Coin 5,000 0 18,000 15,000 10,000 18,000 74,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 30,000 0 0 86,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 15,000 5,000 90,000 40,000 35,000 315,000
$50 American Buffalo 1 Oz Gold Coin 0 13,500 2,000 27,500 14,500 18,500 226,500
$1 American Eagle 1 Oz Silver Coin 156,000 968,500 824,000 2,800,000 3,104,000 2,405,000 21,415,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 0 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 0 52,900

 

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