Precious Metals Rise for Third Session on Monday, Nov. 8

6

Precious metals scored gains for a third consecutive session on Monday. Advances ranged from 0.6% for gold to 2.5% for palladium. Gold marked a more than two-month high.

Gold for December delivery rose $11.20 to settle at $1,828 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Sept. 3 when gold ended at $1,833.70 an ounce.

"It appears the metals traders have turned their focus from the bearish aspects of a tighter U.S. monetary policy, to the bullish prospects of rising and even problematic price inflation in the coming months. A lower U.S. dollar index to start the trading week was also friendly for the metals market bulls" Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,813.80 to a high of $1,828.30. They surged 1.8% last week.

Silver for December delivery tacked on 38.5 cents, or 1.6%, to settle at $24.542 an ounce. The close was the best since Oct. 25 when silver finished at $24.592 an ounce. Silver futures traded between $24.13 and $24.59. They gained 0.9% last week.

In other precious metals futures prices on Monday:

  • January platinum surged $24.20, or 2.3%, to $1,060 an ounce, ranging from $1,033.30 to $1,066.60.

  • Palladium for December delivery rallied $50.10 to $2,077.70 an ounce, trading between $2,025.50 and $2,088.

Last week platinum rose 1.5% and palladium advanced 2.4%.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales were unchanged on Monday. 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)
Monday Last Week September October November 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 17,500 67,500 135,500 17,500 966,500
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 4,000 7,000 2,000 90,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 8,000 22,000 2,000 152,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 35,000 85,000 10,000 460,000
$50 American Buffalo 1 Oz Gold Coin 0 0 24,000 38,500 0 298,000
$1 American Eagle 1 Oz Silver Coin 0 474,500 2,735,000 1,076,000 474,500 27,226,500
$100 American Eagle 1 Oz Platinum Coin 0 7,900 0 0 7,900 82,900
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900

 

Subscribe
Notify of
guest
6 Comments
Inline Feedbacks
View all comments
Mammoth

With a heavy heart, today I sold my 2021 ASE Reverse Proof Set & ‘W’ Proof ASE. Came out ahead, of course.

Been working in mask production since early last year, but thanks to the cheap imported masks – from ‘you-know-where‘ – my employer could not compete on pricing, so they just laid off over 150 of us.

So it’s time to let go of some of the non-essentials.
Those shiny 2021 Morgan & Peace Dollars are heading to the chopping block, I’m afraid…

SENZA

That burning question ( why doesn’t the keeper of the coin flame post photos of his coins) has been answered and nobody could find fault with your explanation and yet we find another thing in common – the joy of Christmas – although – my visions of sugar plums may differ from yours…………….

11-09-2021_056.jpg
SENZA

Hopefully your unemployment compensation is bountiful as those who choose to be unemployed because the benefits exceed what they had while employed and we salute you for working when you could have chosen to stay home safe from what the US government has turned this Planet into. Hoping to cheer you up I googled benefits of being unemployed and this is was the return:

11-09-2021_058.jpg
Jeff Legan

Hey Mammoth, Sorry to hear of your layoff. I have an idea to possibly lessen the pain of selling your coins, at least. How about you sell them in person (at the same price you are intending to sell them at now) to someone you know (and already trust, if possible) who is still employed/financially stable with the understanding you will buy them back at the same price when your income stabilizes again. Even if you do not feel a signed agreement is needed you should probably write something down because Human memory gets unreliable as time passes. That way… Read more »

Mammoth

That is a great idea, Jeff. Thank you for your thoughtfulness.
-Mammoth

Mammoth

Kaiser, thank you for the good luck wishes. Despite the govt’s and media’s assertion this is a ‘rip-roaring’ job market, the fact is this is only true for low-wage jobs such as hospitality, restaurant, and retail. For those who seek a professional position; i.e., one that actually pays the bills, there is still plenty of competition from other well-qualified and YOUNGER applicants.

Belt-tightening and living below your means is always a good habit to have, in both fat times and lean times.