Precious Metals Gain on Thursday, July 21

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Gold, silver and platinum rose on Thursday after falling on Wednesday. Palladium also gained on the day, driving its winning streak to four in a row.

Gold for August delivery advanced $13.20, or 0.8%, to settle at $1,713.40 an ounce on the Comex division of the New York Mercantile Exchange.

“Gold remains caught between elevated inflation, growing concerns over a recession and a flight to quality on the one hand, but sharp rate hikes, a strong USD and seasonally weak demand on the other,” Reuters quoted Standard Chartered analyst Suki Cooper.

Gold futures traded between $1,678.40 and $1,717.70. They declined 0.6% on Wednesday, ending the day at their lowest price since March 30, 2021, they edged up 0.03% on Tuesday, and they climbed 0.4% on Monday.

Silver for September delivery rose 5.1 cents, or 0.3%, to settle at $18.719 an ounce. Silver futures ranged from $18.12 to $18.75. They lost 0.2% on Wednesday, they shed 0.7% on Tuesday, and they moved up 1.3% on Monday.

In other precious metals futures on Thursday:

  • October platinum added $12.20, or 1.4%, to $858.70 an ounce, trading between $831.10 and $862.90.

  • Palladium for September delivery added $15.10, or 0.8%, to $1,876.70 an ounce, ranging from $1,832 to $1,883.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Thursday. 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)
Thursday / This Week Last Week May June July 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 18,000 164,500 31,000 33,000 659,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 7,000 6,000 3,000 69,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 8,000 18,000 2,000 130,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 50,000 135,000 5,000 510,000
$50 American Buffalo 1 Oz Gold Coin 0 14,000 56,000 21,500 23,000 282,500
$1 American Eagle 1 Oz Silver Coin 0 425,000 1,350,000 925,000 425,000 11,131,500
$100 American Eagle 1 Oz Platinum Coin 0 1,000 0 23,500 15,000 78,500
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Major D

Here’s what the Mint says about Bullion Coins:A bullion coin is a coin that is valued by its weight in a specific precious metal. The U.S. government guarantees its weight, content, and purity. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition, or age, investors purchase bullion coins seeking a simple way to own and invest in the gold, silver, platinum, and palladium markets. Precious Metal Coins | U.S. Mint (usmint.gov) So, I must ask again- why on earth would you grade and slab bullion coins which are made in the millions, unless you’re trying to trick collectors… Read more »