Gold prices rose for a second straight session and ended at a six-week high on Tuesday, while silver, platinum and palladium declined.
Gold for December delivery tacked on $7.10, or 0.4%, to settle at $1,812.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since June 29.
"The yellow metal was boosted by technical buying, a weaker U.S. dollar index and even by some light safe-haven demand," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"Traders are awaiting two key U.S. inflation reports that are on deck. Wednesday comes the consumer price index report for July, which is seen coming in up 8.7%, year-on-year, after a rise of 9.1% in the June report. Thursday comes the producer price index report for July, seen up 0.2% from June and compares to the June report’s rise of 1.1% from May."
Gold futures traded between $1,799.40 and $1,817. They gained 0.8% on Monday.
Silver for September delivery shed 13.2 cents, or 0.6%, to close at $20.482 an ounce. Silver futures ranged from $20.40 and $20.74. They jumped 3.9% on Monday, registering their best finish since June 29.
In other precious metals futures Tuesday:
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October platinum dipped $5.40, or 0.6%, to $933 an ounce, trading between $929.80 and $944.10.
- Palladium for September delivery declined $22.70, or 1%, to $2,218.80 an ounce, ranging from $2,181 to $2,258. On Monday, palladium marked its strongest settlement since April 29.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Tuesday after showing gains on Monday for the first time this month.
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 | May | June | July | This Week / August | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 164,500 | 31,000 | 59,500 | 21,000 | 706,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 7,000 | 6,000 | 5,000 | 1,000 | 72,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 8,000 | 18,000 | 2,000 | 2,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 50,000 | 135,000 | 20,000 | 15,000 | 540,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 56,000 | 21,500 | 39,500 | 6,500 | 305,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,350,000 | 925,000 | 850,000 | 408,000 | 11,964,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 23,500 | 15,500 | 1,000 | 80,000 |
I sold some of my Silver on Feebay and bought more beaten-down, dividend-paying, defensive stocks = everything seems to be on sale right now. https://www.youtube.com/watch?v=dXIMHh4ZfhY
Senza,
A smart move! I’ve been ‘nibbling’ on stocks as they’ve dropped in price. I don’t think we have seen the bottom yet but 3-5 years out I think I’ll be a happy camper.Silver will probably be around $20.
By the way Senza, I missed what started the civil war between you and kw. I always thought you guys were ‘butt buddies’, you being the ‘top’ of course. In America, things sure do turn on a dime!
Now it is SENZA’s turn to be on the bottom and everyone is joining in.
So you’re a gay man Jeff? I did not know that! Lol
You do know you were also saying SENZA is, right? Your new comment will bother him more than me. He is a bit sensitive, I have noticed.
That was a hilarious post of mine. If that didn’t make you laugh then you ain’t alive,,I think that was a trademark of Larry the Cable Guy. People are much too sensitive these days. By the way, if you seriously think Biden is doing a good job, or is even the President, then I can’t edify you on what a recession is. All I can say is wait a bit and see major corporations start to shed employees, A lot of them have signalled a slow down in the coming months. I hope this is a shallow recession and I… Read more »
It is a sensitive time here right now, Larry. If you meant it as humor, I am ok with that. I have nothing against you. I did not even have any dislike for SENZA until a day or two ago, when I realized he really is hopeless. I have no sympathy for him now. He made his bed and now finally gets to sleep in it. I was really quite patient, waiting to see if he could understand. Do you really think it is such a bad idea to leave personal insults out of our posts here? I would think… Read more »
Jeff, What started the war? I thought those two were meme brothers, but something sure changed that. I agree that insults should be left out of posts, although I have a bit, just a bit, of devil or darkness in me that comes out from time to time. I do my best to control that side of me but sometimes it’s hard to resist. And no I don’t think, or even care if you are gay. Am I clear? By the way, I’m blaming the Mint for all the discourse. If they had a line-up of interesting products this year… Read more »
Hi Larry,
You and me are ok, despite our huge political differences.
Start with the comments in the article “Precious Metals Gain in August Start” from Aug 1, 2022. And pretty much every article SENZA has commented on since then.
Hi Larry, Back to the recession part. I just saw on my business feed that the Minneapolis Fed President said that “the possibility of recession should not deter the FOMC from bringing down inflation”. I said in another post today that I am not much of an expert in anything, but have lots of general knowledge. That Fed President apparently does not think we are currently in recession. I would assume he knows a lot about economics, and I admit I do not, so I will defer to him. How about you, do you have an economic background? How good… Read more »
I didn’t comment on this one earlier Major D, but it was a good one. You made me laugh.
You know, I really do suspect that place is actually SENZAs business. Or at the least, they know him. He won’t be feeling too brave here anymore if we actually know the area he lives. If you start getting harassing phone calls, then you will know for sure. You might want to slip that business info into a drawer somewhere in case it gets deleted from this site.
Hi Kaiser Wilhelm,
I think Larry is up to speed now, so go easy on him. I think he got a different response to that post than he had expected. If he continues we can always pick up where we left off. Everyone deserves a chance. I gave his buddy a lot of chances. Thanks!
Major D and Kaiser Wilhelm: Thanks for the support!
You know, I think we are making progress. Even though I expect to be wrestling with SENZA for a while yet (and probably sporadically until he dies of impotent rage), I feel the majority of visitors here support what we are trying to do. I think we have won the PR battle already.
There’s more important things than S ASEs, there’s gold and silver rose slightly today! \O/