Precious Metals Decline Tuesday, Nov. 2

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Precious metals registered losses on Tuesday that ranged from 0.4% for gold to 2.4% for silver.

Gold for December delivery shed $6.40 to settle at $1,789.40 an ounce on the Comex division of the New York Mercantile Exchange.

"The week ahead could be volatile for gold prices … the yellow metal is likely to be influenced by the dollar’s movements, Treasury yields, inflation expectations and global risk sentiment," Lukman Otunuga, a senior research analyst at FXTM, said in a note according to Reuters.

Gold futures ranged from a low of $1,787.50 to a high of $1,797.80. They rose 0.7% on Monday.

Silver for December delivery fell 56.6 cents to settle at $23.507 an ounce. Silver futures traded between $23.75 and $24.14. They gained 0.5% on Monday.

In other precious metals futures prices on Tuesday:

  • January platinum gave back $28, or 2.6%, $1,039.30 an ounce, ranging from $1,038.50 to $1,069.20.

  • Palladium for December delivery declined $44.90, or 2.2%, to $2,007.40 an ounce, trading between $2,003.50 and $2,054.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales were unchanged on Tuesday. 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 0 17,500 112,000 67,500 132,000 945,500
$25 American Eagle 1/2 Oz Gold Coin 0 4,000 21,000 4,000 7,000 88,000
$10 American Eagle 1/4 Oz Gold Coin 0 10,000 34,000 8,000 22,000 150,000
$5 American Eagle 1/10 Oz Gold Coin 0 30,000 50,000 35,000 85,000 450,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 27,500 24,000 38,500 298,000
$1 American Eagle 1 Oz Silver Coin 0 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 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900

 

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Kaiser Wilhelm

Get set for the monumental gold and silver rush of 2021-2022. If the Billionaire Tax passes Congress and gets signed into law, the big money cheeses will be putting millions if not billions into assets like precious metals before the law goes into effect. The sky’s the limit!

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Last edited 2 months ago by Kaiser Wilhelm