Gold and Platinum Log Fourth Straight Gains

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Precious metals divided Tuesday with gold and platinum rising for their fourth straight gains and silver and palladium falling to mark their first losses since Wednesday.

Gold for December delivery edged up $2.80, or 0.2%, to settle at $1,830.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 3 when gold closed at $1,833.70 an ounce.

"Gold prices are on the cusp of a breakout," TD Securities analysts said in a note reported by Reuters. "Considering the extremely poor sentiment in precious metals across the last few months, the bar is low for prices to slice through trendline resistance."

Gold futures ranged from a low of $1,821 to a high of $1,833.40. They rose 0.6% on Monday.

Silver for December delivery declined 22.4 cents, or 0.9%, to settle at $24.318 an ounce. Silver futures traded between $24.09 and $24.57. They gained 1.6% on Monday, registering their highest settlement since Oct. 25.

In other precious metals futures prices Tuesday:

  • January platinum rose $1.40, or 0.1%, to $1,061.40 an ounce, ranging from $1,047.40 to $1,067.80.

  • Palladium for December delivery fell $55.60, or 2.7%, to $2,022.10 an ounce, trading between $2,006 and $2,108.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Tuesday by a combined 34,500 ounces in gold coins.

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 September October November 2021 Sales
$50 American Eagle 1 Oz Gold Coin 19,000 17,500 67,500 135,500 36,500 985,500
$25 American Eagle 1/2 Oz Gold Coin 1,000 2,000 4,000 7,000 3,000 91,000
$10 American Eagle 1/4 Oz Gold Coin 4,000 2,000 8,000 22,000 6,000 156,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 10,000 35,000 85,000 15,000 465,000
$50 American Buffalo 1 Oz Gold Coin 13,500 0 24,000 41,000* 13,500 314,000
$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

*On Tuesday, the U.S. Mint adjusted October bullion sales for American Buffalo gold coins. Their sales increased by another 2,500 ounces for a monthly total of 41,000 ounces.

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Kaiser Wilhelm

Looking back now from the 24th of November, that upward trend is but a distant memory.

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