Precious Metals Mark Second Straight Losses Wed., Nov. 3

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Precious metals finished lower for a second straight session Wednesday. Their losses ranged from 1% for palladium to 1.6% for platinum.

Gold for December delivery settled down $25.50, or 1.4%, to $1,763.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are sharply down in afternoon U.S. dealings Wednesday. This afternoon’s FOMC statement from the Federal Reserve saw the U.S. central bank announce it will begin tapering its bond-buying program in November, by $15 billion… Markets showed little reaction to the FOMC statement, as traders and investors had pretty much dialed in what the Fed would do today, and that the tenor would favor the hawkish camp," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,758.50 to a high of $1,789.30. They shed 0.4% on Tuesday and they rose 0.7% on Monday.

Silver for December delivery declined 27.6 cents, or 1.2%, to settle at $23.231 an ounce. Silver futures traded between $23.04 and $23.67. They fell 2.4% on Tuesday and they gained 0.5% on Monday.

In PGM futures on Wednesday:

  • January platinum lost $16.80 to $1,022.50 an ounce, ranging from $1,021.50 to $1,049.

  • Palladium for December delivery declined $20.20 to $1,987.20 an ounce, trading between $1,976.50 and $2,026.50.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales were unchanged on Wednesday. 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)
Wednesday / 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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Rich

Speaking of the latest in US Mint bullion products and sales, has anyone heard of the Mint releasing 2021 1-oz $25 Palladium American Eagle BU bullion coins next week? Currently, the Mint Bullion Monthly Sales figures show no 2021 0ne Ounce Palladium American Eagle bullion sales as of 11/3/2021, and I have not seen any Mint news/ press release or announcement about it. I have only seen a couple of online dealers taking pre-sale orders for them with an expected shipping date of 11/12/2021.

Kaiser Wilhelm

Very informative report on Palladium, Rich, but too rich (har dee har har) for my blood.

Last edited 27 days ago by Kaiser Wilhelm
Kaiser Wilhelm

Unless one is accustomed to taking one’s dining pleasure at multi-starred Michelin restaurants, palladium is just a bit too high up on the food chain.

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Last edited 27 days ago by Kaiser Wilhelm