Gold Logs First Loss in Eight Sessions

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Precious metals divided on Monday with platinum and palladium rising and gold and silver falling. Gold’s loss was its first in eight sessions.

Gold for December delivery shed $1.90, or 0.1%, to settle at $1,866.60 an ounce on the Comex division of the New York Mercantile Exchange.

"It’s been quite a run for gold, which has soared as inflation indicators have continued to rise and become more widespread," wrote Craig Erlam, senior market analyst at Oanda Corp., in a note reported by MarketWatch.

Gold futures ranged from a low of $1,858.50 to a high of $1,873. They gained 2.9% last week, ending Friday at their best price since June 11.

Silver for December delivery fell 24.1 cents, or 1%, to end at $25.105 an ounce. Silver futures traded between $24.97 and $25.47. They jumped 4.9% last week, closing Friday at their highest price since Aug. 4.

In other precious metals futures prices on Monday:

  • January platinum added $7.70, or 0.7%, to $1,096.90 an ounce, ranging from $1,075.70 to $1,103.30.

  • Palladium for December delivery advanced $38.40, or 1.8%, to $2,156.10 an ounce, trading between $2,082.50 and $2,175.

Last week platinum rallied 5.2% and palladium soared 4.4%.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased on Monday by 454,000 in silver coins and a combined 28,500 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)
Monday Last Week September October November 2021 Sales
$50 American Eagle 1 Oz Gold Coin 19,500 26,000 67,500 135,500 63,000 1,012,000
$25 American Eagle 1/2 Oz Gold Coin 2,000 2,000 4,000 7,000 6,000 94,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 8,000 22,000 6,000 156,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 15,000 35,000 85,000 30,000 480,000
$50 American Buffalo 1 Oz Gold Coin 7,500 15,500 24,000 41,000 23,000 323,500
$1 American Eagle 1 Oz Silver Coin 454,000 0 2,735,000 1,076,000 928,500 27,680,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 8,700 83,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900

 

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Kaiser Wilhelm

The “Silver Watch” continues; sorry to say, but my favorite metal is below $25/oz again.

Last edited 14 days ago by Kaiser Wilhelm