Precious Metals Decline Monday, Oct. 18

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Precious metals fell in their start to the new trading week on Monday. The losses ranged from 0.2% for gold to 3.1% for palladium.

Gold for December delivery shed $2.60 to settle at $1,765.70 an ounce on the Comex division of the New York Mercantile Exchange.

"Continued strength in bitcoin, which climbed above the $62,000 level for the first time since April, has been a notable source of pressure on the precious metals," analysts at Zaner wrote in a daily report Monday according to MarketWatch.

Gold futures ranged from a low of $1,760.30 to a high of $1,772.50. They climbed 0.6% last week.

Silver for December delivery lost 8.5 cents, or 0.4%, to close at $23.264 an ounce. Silver futures traded between $23.03 and $23.50. They tacked on 2.8% last week

In other precious metals futures prices Monday:

  • January platinum declined $21, or 2%, to $1,037.90 an ounce, ranging from $1,034.80 to $1,062.70.

  • Palladium for December delivery dropped $63.50 to $2,013.10 an ounce, trading between $1,970.50 and $2,081.

Last week platinum gained 3% and palladium edged up 0.2%.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Monday by 492,000 ounces in silver coins and a combined 26,500 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)
Monday Last Week August September October 2021 Sales
$50 American Eagle 1 Oz Gold Coin 19,000 12,000 112,000 67,500 112,500 926,000
$25 American Eagle 1/2 Oz Gold Coin 2,000 0 21,000 4,000 2,000 83,000
$10 American Eagle 1/4 Oz Gold Coin 6,000 0 34,000 8,000 10,000 138,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 5,000 50,000 35,000 35,000 400,000
$50 American Buffalo 1 Oz Gold Coin 4,000 20,000 27,500 24,000 36,500 296,000
$1 American Eagle 1 Oz Silver Coin 492,000 0 3,930,000 2,735,000 992,000 26,667,500
$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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