Gold Logs Fifth Straight Gain on Tuesday, Aug. 2

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Precious metals prices split on Tuesday. Gold and platinum recorded modest gains while silver and palladium dropped.

Up for a fifth straight session, gold for December delivery rose $2, or 0.1%, to settle at $1,789.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the strongest since July 1.

"Gold prices are modestly up in midday U.S. trading Tuesday and hit a nearly four-week high earlier, as some safe-haven demand is featured amid keener risk aversion in the marketplace today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,782.50 and $1,805. They gained 0.3% on Monday.

Falling for the first time in six sessions, silver for September delivery declined 22.3 cents, or 1.1%, to close at $20.139 an ounce. Silver futures ranged from $19.97 to $20.50. They gained 0.8% on Monday to end at their best price since June 29.

In other precious metals futures prices Tuesday:

  • October platinum edged up $3.40, or 0.4%, to $905 an ounce, trading between $893.20 and $915.

  • Palladium for September delivery fell $109.20, or 5%, to $2,090.20 an ounce, ranging from $2,044.50 to $2,220.50. On Monday, palladium registered its highest finish since May 4.

US Mint Bullion Sales in 2022

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 / Week / August May June July 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 164,500 31,000 59,500 685,500
$25 American Eagle 1/2 Oz Gold Coin 0 7,000 6,000 5,000 71,000
$10 American Eagle 1/4 Oz Gold Coin 0 8,000 18,000 2,000 130,000
$5 American Eagle 1/10 Oz Gold Coin 0 50,000 135,000 20,000 525,000
$50 American Buffalo 1 Oz Gold Coin 0 56,000 21,500 39,500 299,000
$1 American Eagle 1 Oz Silver Coin 0 1,350,000 925,000 850,000 11,556,500
$100 American Eagle 1 Oz Platinum Coin 0 0 23,500 15,500 79,000
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Antonio

It was up for a while and then it dropped. There’s always tomorrow.