Precious Metals Register Fourth Straight Declines

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Precious metals declined as a group for a fourth session in a row on Tuesday. The losses ranged from 1.3% for gold to 5.1%. Gold and silver marked their lowest settlements since early November.

Gold for December delivery lost $22.50 to settle at $1,783.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since Nov. 3.

"Investors have been selling low- and zero-yielding assets as yields on government bonds continue to ascend. This is why gold and silver have fallen further, while technology and other growth stocks are also finding no love," MarketWatch quoted Fawad Razaqzada, a market analyst at ThinkMarkets.

Gold futures ranged from a low of $1,781.70 to a high of $1,812.50. They fell 2.5% on Monday.

Silver for December delivery tumbled 86.2 cents, or 3.6%, to settle at $23.435 an ounce. The finish was also the lowest since Nov. 3. Silver futures traded between $23.28 and $24.34. They dropped 2% on Monday.

In other precious metals futures prices Tuesday:

  • January platinum sank $50.90, or 5%, to $964.20 an ounce, ranging from $956.50 to $1,024.30.

  • Palladium for December delivery fell $100.30 to $1,850.30 an ounce, trading between $1,835 and $1,996.50.

US Mint Bullion Sales in 2021

Published U.S. 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 / This Week Last Week September October November 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 29,500 67,500 135,500 73,000 1,022,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 4,000 7,000 6,000 94,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 8,000 22,000 6,000 156,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 35,000 85,000 35,000 485,000
$50 American Buffalo 1 Oz Gold Coin 0 11,000 24,000 41,000 26,500 327,000
$1 American Eagle 1 Oz Silver Coin 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 75,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 8,700 8,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900

 

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Kaiser Wilhelm

All the precious metals now seem to be dropping in value as steadily as an elevator minus its safety brakes. Hopefully something will change before they hit bottom.

In spite of this news, HAVE A VERY HAPPY THANKSGIVING, EVERYONE!

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Last edited 7 days ago by Kaiser Wilhelm
Rich

… and a joyful “Happy Thanksgiving” to you, Sir Kaiser!

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SENZA

Happy Turkey Day Rich – Don’t forget to set your scales back

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Rich

Thanks SENZA! Have a rock’n Happy Thanksgiving Day.

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Kaiser Wilhelm

SENZA,

I hope you take advantage of the Calorie Free Zone as represented by the miracle of Thanksgiving, and be sure to have a Happy One while you’re at it!

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Kaiser Wilhelm

Thanks, Rich! This is my favorite holiday of the year because it’s all about warm feelings and togetherness without the distraction of the gift giving at Christmas.

My wife and I have a tradition of starting off Thanksgiving right with a helping or two of apple pie as we relax and enjoy the Macy’s Thanksgiving Day Parade.

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Last edited 6 days ago by Kaiser Wilhelm