Gold Dips Thursday, Oct. 7, As Other Metals Gain

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Gold eased lower on Thursday while silver, platinum and palladium advanced. Gains in silver and platinum were modest. Palladium, however, soared 4.7%.

Gold for December delivery shed $2.60, or nearly 0.2%, to settle at $1,759.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold has essentially been a battleground for bulls and bears this week with conflicting themes pulling and pushing the metal in a relatively narrow range," MarketWatch quoted Lukman Otunuga, senior research analyst at FXTM. "The choppy price action illustrates the growing struggle for power ahead of the key jobs data."

Gold futures ranged from a low of $1,752 to a high of $1,767.70. They edged up 0.05% on Wednesday, they dipped 0.4% on Tuesday, and they rose 0.5% on Monday.

Silver for December delivery rose 12.6 cents, or 0.6%, to close at $22.658 an ounce. Silver futures traded between $22.39 and $22.84. They fell 0.3% on Wednesday, they shed 0.2% on Tuesday, and they climbed 0.5% on Monday.

In other precious metals future prices Thursday:

  • January platinum added $8.10, or 0.8%, to $985.30 an ounce, ranging from $975.30 to $997.70.

  • Palladium for December delivery added $87.20 to $1,955 an ounce, trading between $1,865.50 and $1,992.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Thursday by a combined 12,500 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)
Thursday Last Week August September This Week / Oct. 2021 Sales
$50 American Eagle 1 Oz Gold Coin 11,000 0 112,000 67,500 78,500 892,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 21,000 4,000 0 81,000
$10 American Eagle 1/4 Oz Gold Coin 4,000 0 34,000 8,000 4,000 132,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 0 50,000 35,000 20,000 385,000
$50 American Buffalo 1 Oz Gold Coin 0 0 27,500 24,000 12,500 272,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,930,000 2,735,000 500,000 26,175,500
$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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Mammoth

Kaiser, once chips become available again and the pent-up demand for new vehicles is released – then Palladium will shoot back up in price, as it is used in catalytic converters.

Rich

… and platinum lost it’s Mojo after the German Volkswagen diesel engine/emissions dieselgate scandal back in 2015.

SENZA

Supply Demand Plan -Demic Fake Scarcity the key ingredients of fraud and manipulation

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