Gold, Silver and Platinum Decline Tuesday, Nov. 16

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All but palladium declined on Tuesday. Gold’s loss was its second in a row following seven straight gains and a five-month settlement high.

Gold for December delivery fell $12.50, or 0.7%, to settle at $1,854.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are moderately lower in midday dealings Tuesday, after hitting a five-month high overnight. Silver pushed to a three-month high and also backed off. Both precious metals saw some routine profit-taking from the shorter-term futures traders, following recent good gains. A rally in the U.S. dollar index to a 15-month high today also worked against 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 $1,851 to a high of $1,879.50. They dipped 0.1% on Monday. On Friday, they closed at  $1,868.50 an ounce for their highest settlement since June 11.

Silver for December delivery shed 16.1 cents, or 0.6%, to settle at $24.944 an ounce. Silver futures traded between $24.82 and $25.49. They lost 1% on Monday. On Friday, they ended at $25.346 an ounce for their highest finish since Aug. 4.

In other precious metals futures prices Tuesday:

  • January platinum dropped $22.40, or 2%, to $1,074.50 an ounce, ranging from $1,070.20 to $1,113.10.

  • Palladium for December delivery added $11.50, or 0.5%, to $2,167.60 an ounce, trading between $2,134.50 and $2,179.

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 Last Week This Week September October November 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 26,000 19,500 67,500 135,500 63,000 1,012,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 2,000 4,000 7,000 6,000 94,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 0 8,000 22,000 6,000 156,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 5,000 35,000 85,000 30,000 480,000
$50 American Buffalo 1 Oz Gold Coin 0 15,500 7,500 24,000 41,000 23,000 323,500
$1 American Eagle 1 Oz Silver Coin 0 0 454,000 2,735,000 1,076,000 928,500 27,680,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 8,700 83,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 0 52,900

 

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Kaiser Wilhelm

Here we are with Silver staying below the “magic” $25/oz level again; it just can’t seem to maintain that (one that I believe to be a somehow significant) plateau!

Last edited 15 days ago by Kaiser Wilhelm