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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Kaiser Wilhelm

This time it’s an across the board drop in precious metal prices, but we’ll see how that plays out as stocks might come under more pressure due to the events in Afghanistan.

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Last edited 1 month ago by Kaiser Wilhelm