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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