Metals Post Strong Gains on Monday, Aug. 23

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Precious metals advanced on Monday, logging gains ranging from 1.3% for gold to 4.8% for palladium. Silver’s increase was its first in five sessions. Wins for gold and platinum were their second in a row.

Gold for December delivery tacked on $22.30 to settle at $1,806.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 5.

"The key outside markets are fully  favoring the precious metals bulls to start the trading week — a weaker U.S. dollar index and sharply higher crude oil prices. The precious metals are also getting a bid early this week on growing ideas the Federal Reserve will not be able to start tightening its monetary policy as soon as many had reckoned just a few weeks ago," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,778 to a high of $1,809.10. They edged up 0.3% last week.

Silver for September delivery jumped 54.4 cents, or 2.4%, to settle at $23.656 an ounce. Silver futures traded between $22.92 and $23.71. They declined 2.8% last week.

In other precious metals prices on Monday:

  • October platinum added $19.90, or 2%, to $1,014.10 an ounce, ranging from $987.80 to $1,018.

  • Palladium for September delivery soared $108.60 to $2,385.10 an ounce, trading between $2,260 and $2,429.

Last week platinum fell 3.1% and palladium dropped 14.3%.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased on Monday by 740,000 ounces in American Silver Eagles; 4,500 ounces in American Gold Buffalos; and a combined 14,500 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)
Monday Last Week June July August 2021 Sales
$50 American Eagle 1 Oz Gold Coin 12,000 28,000 158,000 49,500 95,500 729,500
$25 American Eagle 1/2 Oz Gold Coin 0 21,000 15,000 10,000 21,000 77,000
$10 American Eagle 1/4 Oz Gold Coin 6,000 0 30,000 0 6,000 92,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 10,000 90,000 40,000 50,000 330,000
$50 American Buffalo 1 Oz Gold Coin 4,500 2,000 27,500 14,500 23,000 231,000
$1 American Eagle 1 Oz Silver Coin 740,000 824,000 2,800,000 3,104,000 3,145,000 22,155,500
$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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Kaiser Wilhelm

silver has gained all of 54 cents. a completely unexpected bonanza. wow. zzzzzzzzz.

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Last edited 1 month ago by Kaiser Wilhelm