Gold and Silver Post First Gains in Five Sessions

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Palladium edged lower on Thursday, for a fifth straight loss, while other precious metals rose modestly. Gains in gold and silver were their first in five sessions. Platinum, meanwhile, snapped a six-session losing streak.

U.S. markets are closed Thursday for the Thanksgiving holiday.

For the day, gold for December delivery edged up 50 cents, or less than 0.1%, to close at $1,784.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Bulls still have the slight overall near-term technical advantage but have faded badly this week and need to show fresh power soon to keep their edge. A seven-week-old uptrend on the daily bar chart has stalled out," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,777.40 to a high of $1,796.20. They lost 1.3% on Tuesday, marking their lowest settlement since Nov. 3, and they fell 2.5% on Monday.

Silver for December delivery climbed 6.1 cents, or 0.3%, to settle at $23.496 an ounce. Silver futures traded between $23.40 and $23.70. They sank 3.6% on Tuesday, for their weakest finish since Nov. 3, and they dropped 2% on Monday.

In PGM futures on Wednesday:

  • January platinum added $11.10, or 1.2%, to $975.30 an ounce, ranging from $965.30 to $984.70.

  • Palladium for December delivery dipped $2.40, or 0.1%, to $1,847.90 an ounce, trading between $1,835 and $1,909.

US Mint Bullion Sales in 2021

Published U.S. Mint bullion sales were unchanged on Wednesday. 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 / 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

If those miniscule gains are something to be celebrated, then bad times are here again.

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Last edited 7 days ago by Kaiser Wilhelm