Gold Dips as Other Metals Rise on Tuesday, Dec. 21

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Gold declined modestly on Tuesday, for its second straight loss, while silver, platinum and palladium climbed.

Gold for February delivery settled down $5.90, or 0.3%, to settle at $1,788.70 an ounce on the Comex division of the New York Mercantile Exchange.

"This week, we do not have any important economic event, but traders will find other external factors such as Omicron to drive the gold price action," wrote Naeem Aslam, chief market analyst at AvaTrade, according to MarketWatch. "Any risk-off event is likely to drive the gold price higher."

Gold futures ranged from a low of $1,785 to a high of $1,801.70. They shed 0.6% on Monday.

Silver for March delivery gained 23.7 cents, or 1.1%, to settle at $22.529 an ounce. Silver futures traded between $22.18 and $22.81. They fell 1.1% on Monday.

In other precious metals futures prices Tuesday:

  • January platinum added $1.40, or 0.2%, to $927.80 an ounce, ranging from $922.40 to $938.50.

  • Palladium for March delivery tacked on $47.20, or 2.7%, to $1,793.10 an ounce, trading between $1,739.50 and $1,830.

Last week platinum edged 0.03% higher and palladium rose 2%.

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 / This Week Last Week October November December 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 14,500 135,500 125,500 41,000 1,115,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 7,000 6,000 1,000 95,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 22,000 10,000 2,000 162,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 85,000 40,000 0 490,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 41,000 39,500 10,500 350,500
$1 American Eagle 1 Oz Silver Coin 0 0 1,076,000 1,523,500 0 28,275,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 75,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 8,700 0 8,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900

 

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Rich

While searching for information on the US Mint 2022 Product Schedule changes to the previously scheduled release dates for the National Purple Heart Hall of Honor commemorative coins (Jan 6th) and the 2022-W ASE Proof and Congratulations Set (both Feb 3rd), all now scheduled TBD, I came across this information, “Mint re-offers more 2021 Morgan and Peace silver dollars” from Coin World (copied from Coin World, Dec 17, 2021): Just when you thought the U.S. Mint’s sales window for the limited-edition 2021 Morgan and Peace dollars had closed, sales briefly reopened Dec. 14 for all options, making thousands of the… Read more »