Gold Prices Mark Six-Week High on Tuesday, Aug. 9

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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:

  • 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
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SENZA

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

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Larry

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!

Jeff Legan

Now it is SENZA’s turn to be on the bottom and everyone is joining in.

Larry

So you’re a gay man Jeff? I did not know that! Lol

Jeff Legan

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.

Last edited 1 month ago by Jeff Legan
Larry

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 »

Jeff Legan

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 »

Larry

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 »

Kaiser Wilhelm

Going forward with the assumption that Jeff is “gay” is exactly the kind of duplicitous and aggravating nonsense that senza has been perpetrating here of late. We as a numismatic community here to discuss our interests will no longer tolerate that kind of behavior from him or from anyone anyone else. It’s clearer than ever now how much of a bad influence that hopeless jerk has been on all those who chose to jump on that bandwagon to hell with him, a really big mistake if there ever was one. “Just say no” doesn’t only apply to drugs anymore.

Jeff Legan

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.

Kaiser Wilhelm

There is no war. We all live and then we die. Why waste time?

Kaiser Wilhelm

Larry,

Biden has nothing to do with this, nor does politics have anything to do with CoinNews.net. This is all about what a mean-spirited SOB senza has become and how that impacts on what we’re trying to accomplish here in our little community of coin appreciators and collectors. No Biden, no Trump, no Woke, no senza…just coins and more coins is all we want.

Jeff Legan

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 »

Kaiser Wilhelm

If you seriously believe Biden isn’t President then I would be most agreeable and very happy to have you regale us all with a complete report of your most recent alien probe abduction.

Kaiser Wilhelm

I’ve always been puzzled about why alien probes have to be anal.

Jeff Legan

I didn’t comment on this one earlier Major D, but it was a good one. You made me laugh.

Kaiser Wilhelm

Major D and Jeff Legan,

By the way, I haven’t as yet (if I ever will, which I seriously doubt) heard back from the purported “Gunny” regarding his “personal” take on that bizarre alleged Purple Hearts versus the attacking Viet Cong commentary that arrived here courtesy of the hijacked(?) IP Number of an apparently completely innocent of all the attendant shenanigans Florida tree service’s website. Strange brew.

Last edited 1 month ago by Kaiser Wilhelm
Jeff Legan

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.

Kaiser Wilhelm

Unless, Jeff, that has been Senseless’ fondest wish all along.

Kaiser Wilhelm

That might even be funny, Larry, if SENZA wasn’t such a total pain.

Kaiser Wilhelm

Au contraire, mon frere, as clearly the only non-hetero in question here would be Ms. Larry with their keen knowledge of same-sex positional relativity. Whip that closet door open, sonny, and stroll out proud!

Last edited 1 month ago by Kaiser Wilhelm
Jeff Legan

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!

Kaiser Wilhelm

Hi Jeff,

Trust me, I am not going to ignore any of your concerns regarding this Senseless-by-extension matter and as such have proceeded to address precisely this issue in some detail by way of a comment you will find slightly farther down from this one in this same thread.

Kaiser Wilhelm

Or not. I just want to talk about coins. Nothing else belongs here.

Kaiser Wilhelm

Okay, I’m not proud of that one. Sometimes I just stay up too late.

Kaiser Wilhelm

Re: Bottoms, tops, pile-ons and free-for-alls. I’ve never remotely imagined the concept of a numismatic daisy chain before. How very quaint and exotic.

Kaiser Wilhelm

Larry,

There has never been a mutual conflict between myself and SENZA. Something exploded in his mind and turned him from a somewhat reasonable but always touchy guy into a raging lunatic. Ever since his disgusting transformation to full blown insulter his presence here has been no less than totally destructive and bitterly unwelcome. It is only in his absence that this site can even function, and as a result many former commenters have since vacated the premises. We have no idea what the source of his severe malfunction is nor do we any longer care.

Last edited 1 month ago by Kaiser Wilhelm
Jeff Legan

Major D and Kaiser Wilhelm: Thanks for the support!

Kaiser Wilhelm

Think nothing of it, Jeff. Believe me when I say it applies in reverse also; your sane and sensible participation is a godsend to this site!

Jeff Legan

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.

Kaiser Wilhelm

I do believe you are right about this, Jeff. Senseless has been unusually quiet, which is always a good thing. I do understand your concern that I might tip Larry – or Larrry or all the other variations of his avatar name he has graced this site with – over the edge to the dark side unnecessarily, but I seriously doubt you need have any real concern in that regard. Either he will calm down of his own accord or he will explode Senseless-style in which case we will send for the men in white coats and make ready the… Read more »

Kaiser Wilhelm

Silver really does not appear to be going anywhere fast or soon, Larry. Personally I think it’s a shame because while I do understand that gold is so much rarer, silver is still an extremely attractive metal that – or at least one would tend to think so – deserves a lot more “respect” than it gets.

Last edited 1 month ago by Kaiser Wilhelm
Antonio

There’s more important things than S ASEs, there’s gold and silver rose slightly today! \O/

Kaiser Wilhelm

Antonio,

What could possibly be more important than an “S” ASE? 😉