Gold Rebounds and Marks Highest Settlement Since June

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Gold, silver and palladium climbed on Wednesday while platinum declined. Gold’s increase was its first in three sessions following a seven-session win streak. The yellow metal for the day scored a more than five-month high.

Gold for December delivery tacked on $16.10, or 0.9%, to settle at $1,870.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 11 when gold ended at $1,879.60 an ounce.

"The underlying support for gold and silver remains the inflationary pressures we continue to see in the market," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,851.10 to a high of $1,870.60. They fell 0.7% on Tuesday and they dipped 0.1% on Monday.

Silver for December delivery rose 22.3 cents, or 0.9%, to settle at $25.167 an ounce. Silver futures traded between $24.85 and $25.29. They shed 0.6% on Tuesday and they lost 1% on Monday. On Friday, they ended at $25.346 an ounce for their highest finish since Aug. 4.

In PGM futures on Wednesday:

  • January platinum declined $5.40, or 0.5%, to $1,069.10 an ounce, ranging from $1,059.50 to $1,080.50.

  • Palladium for December delivery added $16.90, or 0.8%, to $2,184.50 an ounce, trading between $2,149 and $2,197.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Wednesday by 4,000 ounces in American Gold Eagles and 70,500 ounces in American Silver Eagles. The U.S. Mint also published a correction, moving previously reported November sales of Platinum Eagles to Palladium Eagles.

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 Last Week This Week September October November 2021 Sales
$50 American Eagle 1 Oz Gold Coin 4,000 26,000 23,500 67,500 135,500 67,000 1,016,000
$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 70,500 0 524,500 2,735,000 1,076,000 999,000 27,750,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 0 75,000
$25 American Eagle 1 Oz Palladium Coin 0 800 0 0 0 8,700 8,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 0 52,900
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Kaiser Wilhelm

If the precious metals climbed in value anywhere even near the rate that Bitcoin does, the hobby of numismatics would very soon be a thing of the past. On the other hand, our existing collections would likely sell for a small fortune, so there is that.

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Last edited 13 days ago by Kaiser Wilhelm
SENZA

Congrats Kaiser, you have earned the “First One Done” award for being the first to comment on this thread…… The hype, pumping and manipulation is at it’s height meaning there are a lot of fake-paper Bitcoin millionaires who just need to sucker in millions of sheeple to pay real U.S. Dollars to the paper millionaires in exchange for the worthless Bitcorn – the stronger the pump the more restless and broke are the fake-paper-millionaires – Elon Musk had to sell his inflated TESLA shares to cover his paper Bitcoin because the pumpers are also using leverage. Remember that year when… Read more »

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Last edited 12 days ago by SENZA
Kaiser Wilhelm

Thank you so very much, SENZA, for the “First One Done” award; it’s the first I’ve ever gotten here, and I’m honored. On the other hand, “first one done” is something you want to try to avoid being when engaging in a sensual interlude with a lady as it is sure to leave her with a lingering low opinion and a questioning of your manly prowess. The section that you wrote at the end of your comment in all caps IS SO TRUE, BECAUSE THAT IS EXACTLY HOW IT WORKS WITH THE MINT AND ITS CIVILIAN CO-CONSPIRATORS AND IS UNDOUBTEDLY… Read more »

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Last edited 12 days ago by Kaiser Wilhelm
Rich

Pardon the slight negativity, but it would appear the Mint has been just a little sloppy, careless and error prone lately. In reference to the above reporting of US Mint sales for Palladium and Platinum American Eagle Bullion coins, i.e., “The U.S. Mint also published a correction, moving previously reported November sales of Platinum Eagles to Palladium Eagles.” – This explains why the mint did not produce and sell Platinum Eagle bullion coins so late in the year (which it usually never does) as was previously reported, and why online dealers have been selling Palladium Eagle bullion coins that appeared… Read more »

Kaiser Wilhelm

Rich,

What you have presented here is an especially damning Dishonor Roll of the Mint’s all too many rather dubious enterprises and serious debacles over the past year. From the confusing of Platinum Eagles with Palladium ones, shipping out of Morgan and Peace Dollars in complete and utter disarray, and prematurely trumpeting a highly suspect AEG error “rarity”; collectively it amounts to quite an impressive fustercluck, I would say.

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Last edited 12 days ago by Kaiser Wilhelm