Gold Reclaims $1,800; Silver Dips

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Silver edged lower on Thursday while gold, silver and palladium moved ahead. Gold ended above $1,800 an ounce for the first time since scoring a six-week high on Monday.

Gold for December delivery rose $3.80, or 0.2%, to settle at $1,802.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Solid losses in the U.S. dollar index today are prompting some buying interest in the precious metals markets. A U.S. GDP report that was downbeat and which fell into the camp of the U.S. monetary policy doves, who want the Federal Reserve to hold off on tapering its monetary policy stimulus, was also friendly for the metals markets today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low $1,793.10 to a high of $1,812.70. They gained 0.3% on Wednesday, they lost 0.7% on Tuesday, and they climbed 0.6% on Monday for their highest settlement since Sept. 14.

Silver for December delivery shed 7.1 cents, or 0.3%, to close at $24.12 an ounce. Silver futures traded between $24.02 and $24.31. They added 0.4% on Wednesday, they fell 2.1% on Tuesday, and they rose 0.6% on Monday for their best finish since Sept. 3.

In other precious metals futures on Thursday:

  • January platinum rose $4.60, or 0.5%, to $1,023.90 an ounce, ranging from $1,008.90 to $1,022.90.

  • Palladium for December delivery tacked on $15.10, or 0.8%, to $1,989.40 an ounce, trading between $1,951.50 and $2,011.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales were unchanged Thursday. 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 This Week August September October 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 21,000 17,500 112,000 67,500 132,000 945,500
$25 American Eagle 1/2 Oz Gold Coin 0 3,000 4,000 21,000 4,000 7,000 88,000
$10 American Eagle 1/4 Oz Gold Coin 0 8,000 10,000 34,000 8,000 22,000 150,000
$5 American Eagle 1/10 Oz Gold Coin 0 30,000 30,000 50,000 35,000 85,000 450,000
$50 American Buffalo 1 Oz Gold Coin 0 4,000 2,000 27,500 24,000 38,500 298,000
$1 American Eagle 1 Oz Silver Coin 0 576,000 0 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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Kaiser Wilhelm

Unobtainium, on the other hand, rose to a recent high of a trillion dollars an ounce. Just a few more grams of that and the government’s new programs will be all paid for.

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Larry T

Kaiser,

What are you talking about? These are Joe’s new programs. Joe has told you those programs won’t cost a cent! It may cost us 350 trillion cents (or pennies to be correct), but not one cent. What do you think about those ‘families’ seperated at our border getting $450,000 per person? We may need that Unobtainium after all! I was just wondering if those illegal immigrants will have to pay taxes on that money.

Kaiser Wilhelm

Wonder no more, Larry. We can assume this will follow the standard pattern of taxation, which is the higher your bracket the less you pay percentage-wise, and when you get far enough up there you either pay nothing or the government gives you other people’s money. Truth, justice and the American Way!

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Last edited 1 month ago by Kaiser Wilhelm
Larry T

Kaiser,

Haven’t you heard, ‘and the American Way’ is no longer associated with the Man of Steel. He’s now bi-sexual as well…and yes, I’m serious about this. If Hollywood does another Superman movie, it’ll be much different from the original show. I’ll take the original any day of the week, and twice on Sunday.

Rich

Larry, Look! Up in the sky, its a bird, its a plane… The new Super Woke binary Super Man is “Fighting Against Truth, Justice and the American Way!”

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Kaiser Wilhelm

Makes sense, Rich, that in retrospect we should now view J. Edgar Hoover and his longtime lover Clyde Tolson as totally Un-American.

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Last edited 1 month ago by Kaiser Wilhelm
Kaiser Wilhelm

This brings up a very puzzling topic for me, Larry. I’ve never understood the rationale behind how in popular culture someone who is either born with or in some peculiar manner acquires special powers is thought of being deserving of the “hero” nomenclature. To my way of thinking it is instead the average man or woman who is able to rise above their otherwise ordinary stature – the likes of Oskar Schindler, Sophie Scholl or Audie Murphy in WWII, for example – to perform unbelievably courageous deeds who is worthy of that title.

“From caring comes courage.”

  • Lao Tzu
Mammoth

Kaiser – What really matters is if your child(ren) view you as a Hero.

Kaiser Wilhelm

Now that is a truly beautiful statement, Mammoth. Well said indeed!

Last edited 1 month ago by Kaiser Wilhelm
Kaiser Wilhelm

And I must say, Mammoth, that for all that they’ve already been through in their lives, my son of 45 and my daughters of 43 are heroes in my eyes as well.

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