Gold, Silver and Palladium Retreat Wednesday, Aug. 18

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Platinum increased on Wednesday while gold, silver and palladium declined. Losses for gold and silver were their second in a row following two straight session gains.

Gold for December delivery lost $3.40, or 0.2%, to settle at $1,784.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Some mild profit taking from recent gains is seen in the gold market. Both metals [gold and silver] were also pressured a bit by bearish outside markets that saw a firmer U.S. dollar index that hit a 4.5-month today and by lower crude oil prices that are now trending down," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,778.80 to a high of $1,795.70. They slipped 0.1% on Tuesday and they gained 0.7% on Monday.

Silver for September delivery declined 23.7 cents, or 1%, to settle at $23.422 an ounce. Silver futures traded between $23.26 and $23.83. They shed 0.6% on Tuesday and they rose 0.5% on Monday.

In PGM futures on Wednesday:

  • October platinum added $2.60, or 0.3%, to $996.40 an ounce, ranging from $985.20 to $1,009.70.

  • Palladium for September delivery dropped $72.30, or 2.9%, to $2,423.30 an ounce, trading between $2,412.50 and $2,538.50.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Wednesday by a combined 5,000 ounces in American Gold 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)
Wednesday Last Week This Week June July August 2021 Sales
$50 American Eagle 1 Oz Gold Coin 3,000 40,000 28,000 158,000 49,500 83,500 717,500
$25 American Eagle 1/2 Oz Gold Coin 3,000 0 21,000 15,000 10,000 21,000 77,000
$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 10,000 90,000 40,000 40,000 320,000
$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 0 968,500 824,000 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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