Gold Marks Third Session of Modest Gains on Tuesday, Aug. 22

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The prices of precious metals increased on Tuesday, led by a more than 2% rise in palladium. Gains in gold and silver were modest.

Rising for the third time in a row following nine consecutive losses, gold for December delivery ticked up by $3, or 0.2%, to settle at $1,926 an ounce on the Comex division of the New York Mercantile Exchange.

"The marketplace is quieter amid the summertime doldrums and as traders and investors are looking ahead to the late-week annual Federal Reserve symposium held in Jackson Hole, Wyoming," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. "This meeting usually produces some market-sensitive news from world central bankers’ comments, including Fed Chair Jerome Powell," Wyckoff added.

Gold futures traded between $1,917.50 and $1,933.20. They increased by 0.3% on Monday, and inched 0.07% higher on Friday.

Up for a fourth session following four straight declines, silver for September tacked on 11 cents, or 0.5%, ending at $23.45 an ounce. For the day, silver prices ranged from $22.23 to $23.52, after jumping 2.7% on Monday.

In other precious metals prices on Tuesday:

  • October platinum added $12, or 1.3%, to $925.50 an ounce, trading between $912.80 and $932.40.

  • Palladium for September delivery advanced by $25.70, or 2.1%, to $1,264.80 an ounce, ranging from $1,243 to $1,296.

US Mint Bullion Sales in 2023

Published U.S. Mint bullion sales were unchanged on Tuesday. On Monday, they increased by 36,500 ounces in American Gold Eagles, 756,000 ounces in American Silver Eagles, and 8,000 ounces in American Gold Buffalos.

The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.

US Mint Bullion Sales (# of coins)
Tuesday Last Week This Week June July August 2023 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,000 36,500 35,000 41,000 52,500 719,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 0 2,000 75,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 0 2,000 134,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 60,000 0 60,000 445,000
$50 American Buffalo 1 Oz Gold Coin 0 11,500 8,000 17,000 16,500 19,500 312,500
$1 American Eagle 1 Oz Silver Coin 0 760,000 756,000 1,482,000 209,100,000 2,339,000 14,154,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 3,500 0 0 12,700
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Antonio

Thanks for the update Major.

Dazed and Coinfused

Ruthenium for the win

Dazed and Coinfused

Gold is on fire. Like bidens kitchen. I can relate. I was using a match to light a candle once and it burned my fingers. Almost died.

Craig

I can top that D and C. Last year, I was smoking a joint in my garage (I had stubbed my toe earlier, so it was for medical purposes) and after I lit it with a match I threw the match toward a pan on the concrete floor, which was close to my corvette. To my utter horror, I missed the pan and there the match was, still flaming brightly and violently, right next to the corvette. I could see the corvette exploding in a huge mushroom fire ball engulfing my garage, me, and my entire house with all my… Read more »

Craig

You’re much too intelligent Kaiser. None if it happened, thankfully, just as I suspect much of what our beloved President said didn’t either. I must say I’m in a delightful mood this afternoon as Nvidia ‘knocked their earnings report out of the park’ and is up another $54/share. Maybe I should buy one of these Proof Silver Sets…nah, I give enough money to the gubmint through taxes. The coins do look their best in silver and I wish the mint would listen to those who said the set should contain all of the denominations in pure unadulterated silver, including the… Read more »

Last edited 6 months ago by Craig
Dazed and Coinfused

Or instead of the gold offered in 4 sizes do silver releases for all coins, I mean you got silver medal of the gold coin. They should make an annual set of all the releases done in all silver. Minus the ornaments, with option to add medals or bronze.

Craig

D and C,

It’s a shame we don’t have your kind of thinking working at the mint, or in gubmint. With those type of proposals the collecting community would be on fire. By the way, you’d make Magic Mike extremely happy. He probably wouldn’t have to get fractional ASE’s from Fiji!

Dazed and Coinfused

Do you think if I got breast implant, wore a wig and drank bud light I’d be considered by biden for the job, or will i need to get melanin transplant.

Dazed and Coinfused

You musta missed my suggestion of great ideas and inventions of African American series. Plus, based on what the locals are demanding and the history they want taught, they would never allow for the bad press to enter their history books. PBS North Carolina had a great docuseries on history of slavery. Including the murderous rampage on their March to Florida, which was the first state offering freedom to slaves. Until Britain took it over. When you fall off that high horse you’re on, let me know so I can have a couple months to plan the trip to see… Read more »

Dazed and Coinfused

Another genius idea. Since the gubmint suing musk for not hiring illegals, i mean asylees and refugees, or properly permitted (greencard) workere for working at space X, in the name of diversity and equity, he should announce he will be hiring at least 40 Iranian and Iraqi and north Korean refugees and asylees to work in the highest security levels. I mean they can’t legally work for federal or local government, but sure make it ok for them to do so for a gubmint contractor. It’s only fair. Plus maybe they’ll enter the nuke accord that trump ended and sell… Read more »

Craig

That’s the beauty of it, it they come naturally.

Dazed and Coinfused

Speak for yourself, mine are pure divinity. Like that LDS guy.

Dazed and Coinfused

Sadly, yes. I suffer from big dkic syndrome. Trust me, not worth the Back issues