Gold and Silver Declined Monday, Dec. 6

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Precious metals split in their start to the new trading week on Monday. Platinum and palladium gained while gold and silver declined. Silver ended the day at another, more than two-month low.

Gold for February delivery shed $4.40, or 0.3%, to settle at $1,779.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is going to remain in a choppy trading environment as there is a push-pull in the market; one side, we have the market anticipating faster tapering and on the other, we have safe-haven demand at the idea of inflation running hot," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,776.40 to a high of $1,789. They edge 0.09% lower last week. On Thursday, they marked their lowest close since Oct. 12.

Silver for March delivery declined 21.8 cents, or 1%, to end at $22.263 an ounce. The settlement was the lowest since Sept. 30 when silver finished at $22.047 an ounce. Silver futures traded between $22.12 and $22.64. Last week they fell 2.7%.

In other precious metals futures prices on Monday:

  • January platinum rose $10.20, or 1.1%, to $936.40 an ounce, ranging from $916.40 and $939.60.

  • Palladium for March delivery tacked on $33, or 1.8%, to $1,845.60 an ounce, trading between $1,750 and $1,855.

Last week platinum dropped 2.9% while palladium advanced 1.3%.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales increased Monday by a combined 26,000 ounces of 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 October November December 2021 Sales
$50 American Eagle 1 Oz Gold Coin 18,500 135,500 125,500 20,500 1,095,000
$25 American Eagle 1/2 Oz Gold Coin 2,000 7,000 6,000 2,000 96,000
$10 American Eagle 1/4 Oz Gold Coin 0 22,000 10,000 0 160,000
$5 American Eagle 1/10 Oz Gold Coin 0 85,000 40,000 0 490,000
$50 American Buffalo 1 Oz Gold Coin 7,000 41,000 39,500 8,000 348,000
$1 American Eagle 1 Oz Silver Coin 0 1,076,000 1,523,500 0 28,275,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 75,000
$25 American Eagle 1 Oz Palladium Coin 0 0 8,700 0 8,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 52,900

 

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SENZA

Gold is resting at a key support level and if it doesn’t hold we can expect significant declines in Gold and cement the fact that the White House printing free money for the rich and punishing savers is the new normal and Gold and Silver are worthless.

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Kaiser Wilhelm

Good call and I can only agree with you all the way, SENZA, but if I may be so bold as to suggest that if we were to rewind the tape of American financial history we would see that this institutionalized inflationary policy owes its very origin to the 1913 establishment of our national monetary agency, that fiat currency based quasi-governmental albatross otherwise known as the Federal Reserve System.

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Last edited 1 month ago by Kaiser Wilhelm
SENZA

Well said kaiser I Salute You https://www.youtube.com/watch?v=NCwUirA35HU

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Kaiser Wilhelm

And a helluva salute that was, my friend! Gotta love AC DC; one of the best!

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chuck

As some have said “end it”!

Does anyone know: Are only “S” Morgan and Peace $ being offered in 2022 (they are only ones on mint schedule.) Also, at least, one of the “18” are showing “CC” Morgan and Peace available 12/10: does that mean they were sold to dealers to reach mintage limits of 175,000 and 200,000?
Thanks.

Kaiser Wilhelm

I heartily endorse your suggestion, chuck, to shut down the so-called “Federal” “Reserve” now, as it has never been either Federal or a Reserve.

In regard to the late time in the year sale of those Morgan CC and Peace Dollars by one of the “Secret 18” I can’t imagine where else those coins could have come from other than the cancellations and returns of same we’ve been reading about in the Mint’s Sales Report week after week.

And so, as always, it continues to go. Business groups first, individual consumers aka collectors last, thereby maintaining the Mint’s natural order.

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Last edited 1 month ago by Kaiser Wilhelm
Rich

What Chuck said!

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Kaiser Wilhelm

What Rich said…and it goes on from there, as those illegal and unwarranted powers the “Federal Reserve” was endowed with have made 108 years of all kinds of other governmental mischief possible.

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chuck

Might have been his first executive order!

Kaiser Wilhelm

One would have have hoped so, which is why he never stood a chance. When it comes to churning money into the military-industrial complex, the differences between Republicans and Democrats tend to vanish into thin air. No Senator or Congressman will ever vote against any so-called “defense” appropriation because all of them protect the enterprises situated in their own bailiwicks, and to keep that universal one hand will always wash the other. The U.S. is now spending as much as or more on military matters as the world’s next thirteen biggest militaries combined, and yet we just got kicked out… Read more »

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Kaiser Wilhelm

SENZA,

“Stick Death”? WTF? Every time I think you’ve hit the pinnacle of what is possible you manage to take it up yet another notch. Outstanding!

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