Gold Dips as Other Metals Rise Tuesday, June 21

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Gold edged lower in kicking off the new trading week on Tuesday, while silver, platinum and palladium gained. U.S. markets were closed Monday in observance of the Juneteenth holiday.

Gold for August delivery dipped $1.80, or 0.1%, to settle at $1,838.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are modestly lower in lackluster midday U.S. trading Tuesday, on the first official day of summer. A solid rebound in the U.S. stock indexes and rising bond yields are weighing on the safe-haven metal,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,830.70 and $1,848.40. They declined 1.9% last week. Last Tuesday, gold at $1,813.50 an ounce posted its lowest settlement since May 12.

Silver for July delivery rose 18.1 cents, or 0.8%, to close at $21.768 an ounce. Silver futures ranged from $21.43 to $21.95. They lost 1.6% last week. Last Tuesday, the precious metal at $20.954 an ounce closed at its weakest price since May 12.

In other precious metals prices on Tuesday:

  • July platinum added $9.30, or 1%, to $939.50 an ounce, trading between $924.50 and $954.90. Last Tuesday, platinum at $910.70 an ounce closed at its lowest price since April 27.

  • Palladium for September delivery surged $64, or 3.6%, to $1,862.70 an ounce, ranging from $1,794 to $1,895.

Last week, platinum fell 4.2% and palladium dropped 5.7%.

US Mint Bullion Sales in 2022

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 / Week Last Week April May June 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 80,500 137,500 0 568,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 3,000 5,000 0 58,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 14,000 8,000 0 110,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 50,000 0 370,000
$50 American Buffalo 1 Oz Gold Coin 0 0 27,500 56,000 2,500 240,500
$1 American Eagle 1 Oz Silver Coin 0 0 850,000 850,000 0 9,281,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 40,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0

 

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Kaiser Wilhelm

Gold and Palladium have been running so close to each other pricewise of late that it is effectively coming down to a matter of a photo finish as to which is the precious metal highest value champion on a day by day basis.

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Major D

And they’re off….

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Kaiser Wilhelm

Damn, that looks too close to call. Get my bookie on the phone, quick!

Major D

With Gold or Palladium you’ve got a sporting chance. Not so with Silver, which can’t even get out of the gate/hole

Kaiser Wilhelm

Then there’s Platinum, the former World Champeen which ever since it had a really big comedown has been a perennial also ran.

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Kaiser Wilhelm

Major D,
If Silver drops below the $20 level I might just start collecting Copper.

Last edited 2 days ago by Kaiser Wilhelm
Major D

I must confess I have a copper penny jar

Kaiser Wilhelm

Clearly you are way ahead of the curve!

Antonio

You can still purchase the American Eagle 2021 One Ounce Palladium Proof Coin.

Kaiser Wilhelm

Let me think about that for a second. Hmm…I can either pay the condo fee, make my health insurance payment, pay the real estate taxes, buy some groceries, fill up my gas tank and take care of the cable bill or I can pick up that Palladium Coin. Wow, that’s a really tough call!

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Last edited 2 days ago by Kaiser Wilhelm
Antonio

And that’s not even mentioning the American Eagle 2022 One Ounce Palladium Reverse Proof Coin released this summer. I wonder if the price will rise on that one.

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Major D

Anyone else notice that the 2022 Uncirculated Set has a product limit of 250,000? This would make for the third lowest mintage since 1959, after 2020’s 211,788 and 1961’s 223,704. Priced at $25.25 looks to be a good deal considering it has $5.82 in face value and the P&D of the first-year issue of AWQ.

Kaiser Wilhelm

I’m glad you posted that, Major D, especially since you “caught” me before I went ahead and made an Enrollment reduction I would subsequently regret. Many thanks!

Major D

Glad to hear I was of some help!

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Kaiser Wilhelm

And not for the first time, I can assure you!

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Antonio

It’s been dead without Kaiser Wilhelm and Major D. So glad to have you guys back. Now if we can get SENZA to return.

Rich

As SENZA would say, “Right On Bro!”

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Kaiser Wilhelm

Thank you sir, thank you very much. Kaiser “Elvis” Wilhelm is back in the building.

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Antonio

Thank you, thank you very much.

Major D

Thank you for the mention, Antonio! Maybe next release of AI (Kentucky) rolls and bags will get SENZA’s attention and bring him back. Hopefully, the Mint has stopped messing with his orders.