Precious Metals Rise; Silver Scores 5-Week High

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Precious metals advanced as a group Tuesday after they declined on Monday. Gains ranged from 0.3% for gold to 4.4% for palladium. Silver ended the day at a five-week high.

Gold for December delivery rose $4.80 to settle at $1,770.50 an ounce on the Comex division of the New York Mercantile Exchange.

"The precious metal is likely to be influenced by conflicting forces this week as investors juggle growth concerns and inflation fears amid prospects of tighter monetary policy," wrote Lukman Otunuga, senior research analyst at FXTM, according to MarketWatch.

Gold futures ranged from a low of $1,763.40 to a high of $1,786. They shed 0.2% on Monday.

Silver for December delivery surged 61.9 cents, or 2.7%, to close at $23.883 an ounce. The settlement was the highest since Sept. 14. Silver futures traded between $23.22 and $24.18. They lost 0.4% on Monday.

In other precious metals futures prices on Tuesday:

  • January platinum climbed $9.20, or 0.9%, to $1,047.10 an ounce, ranging from $1,036.70 to $1,059.30.

  • Palladium for December delivery soared $87.80 to $2,100.90 an ounce, trading between $2,010 and $2,111.50.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Tuesday by 84,000 ounces in American Silver Eagles and a combined 5,000 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)
Tuesday Last Week This Week August September October 2021 Sales
$50 American Eagle 1 Oz Gold Coin 2,000 12,000 21,000 112,000 67,500 114,500 928,000
$25 American Eagle 1/2 Oz Gold Coin 1,000 0 3,000 21,000 4,000 3,000 84,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 0 8,000 34,000 8,000 12,000 140,000
$5 American Eagle 1/10 Oz Gold Coin 20,000 5,000 30,000 50,000 35,000 55,000 420,000
$50 American Buffalo 1 Oz Gold Coin 0 20,000 4,000 27,500 24,000 36,500 296,000
$1 American Eagle 1 Oz Silver Coin 84,000 0 576,000 3,930,000 2,735,000 1,076,000 26,751,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 0 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 0 52,900

 

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