Precious metals kicked off the new trading week on Tuesday with losses that ranged from 1.7% for silver to 2.6% for palladium.

Gold for December delivery gave back $35.20, or 1.9%, to settle at $1,798.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is finding new interest, but the precious metal is caught between a very confused economic outlook and the relentless new record highs in equities," Adrian Ash, director of research at BullionVault, wrote in a research note reported by MarketWatch.

Gold futures ranged from a low of $1,793.70 to a high of $1,833.50. They rose 0.8% last week, ending Friday at their best price since July 29.

Silver for December delivery fell 42.9 cents to end at $24.373 an ounce. Silver futures traded between $24.21 and $24.90. They moved up 3.1% last week.

In other precious metals futures prices on Tuesday:

  • October platinum lost $25.70, or 2.5%, to $995.90 an ounce, ranging from $990 to $1,026.10.

  • Palladium for December delivery declined $62.80 to $2,353.50 an ounce, trading between $2,335.50 and $2,434.

Last week platinum increased 1.5% and palladium gained 0.3%.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales were unchanged Tuesday. 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/ September Last Week June July August 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 11,500 158,000 49,500 112,000 746,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 15,000 10,000 21,000 77,000
$10 American Eagle 1/4 Oz Gold Coin 0 28,000 30,000 0 34,000 120,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 90,000 40,000 50,000 330,000
$50 American Buffalo 1 Oz Gold Coin 0 4,500 27,500 14,500 27,500 235,500
$1 American Eagle 1 Oz Silver Coin 0 750,000 2,800,000 3,104,000 3,930,000 22,940,500
$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

Just for the fun of it, and quite simply because silver is my favorite precious metal, here is a chart of relative values with silver being set as the baseline of 1 and the other metals listed in order of their multiples of that baseline:
Silver —— 1.0
Platinum — 41.0
Gold ——- 73.9
Palladium – 95.5
And how about for giggles,
Rhodium – 699