Gold Snaps 3-Session Losing Streak on Tuesday, Oct. 12

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Precious metals prices split Tuesday with gold and platinum rising and silver and palladium falling. Gold’s gain snapped a three-session losing streak.

Gold for December delivery rose $3.60, or 0.2%, to settle at $1,759.30 an ounce on the Comex division of the New York Mercantile Exchange.

"We see undertones of support coming from the general idea that inflationary pressures are going to be enough to hold gold up in the midst of an environment where we see the Federal Reserve slowly moving towards reducing asset purchases," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,750.50 to a high of $1,770. They dipped 0.1% on Monday.

Silver for December delivery fell 15.1 cents, or 0.7%, to close at $22.514 an ounce. Silver futures traded between $22.32 and $22.79. They shed 0.2% on Monday.

In other precious metals futures prices Tuesday:

  • January platinum added $4.80, or 0.5%, to $1,011.70 an ounce, ranging from $1,002 to $1,020.70.

  • Palladium for December delivery dropped $71.70, or 3.4%, to $2,047.80 an ounce, trading between $2,028 and $2,120.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Tuesday by a combined 31,500 ounces in gold coins.

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 / This Week Last Week August September October 2021 Sales
$50 American Eagle 1 Oz Gold Coin 11,000 81,500 112,000 67,500 92,500 906,000
$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 0 4,000 34,000 8,000 4,000 132,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 20,000 50,000 35,000 25,000 390,000
$50 American Buffalo 1 Oz Gold Coin 20,000 12,500 27,500 24,000 32,500 292,000
$1 American Eagle 1 Oz Silver Coin 0 500,000 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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