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|