Gold Ends Near 2-Week High and Silver Soars 4% on Wed., Aug. 23


On Wednesday, for the second consecutive day, the prices of precious metals advanced in unison. Among them, silver performed the best, soaring by 4% and reaching its highest price of the month. Gold experienced the smallest percentage gain at 1.2%. However, the yellow metal also hit an almost two-week high.

Gaining for the fourth straight time following nine consecutive losses, gold for December delivery tacked on $22.10 to end at $1,948.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 10.

"It (gold) was a little oversold ahead of itself and we’re getting a bounce on some bargain hunting and then short covering," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures, adding that a slight dip in yields is also helping.

Gold futures traded between $1,926.20 and $1,949.70. They rose by 0.2% on Tuesday, they increased by 0.3% on Monday, and inched 0.07% higher on Friday.

Up for a fifth session following four straight declines, silver for September soared by 94.2 cents and closed at $24.392 an ounce. The settlement was the highest since July 31. For the day, silver prices ranged from $23.47 to $24.43, after rising by 0.5% on Tuesday and jumping by 2.7% on Monday.

In PGM futures on Wednesday:

  • October platinum added $12.70, or 1.4%, to $938.20 an ounce, trading between $925.80 and $943.

  • Palladium for September delivery added $16.60, or 1.3%, to $1,281.40 an ounce, ranging from $1,259 to $1,302.50.

US Mint Bullion Sales in 2023

Published U.S. Mint bullion sales were unchanged on Tuesday and Wednesday. 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)
Wednesday 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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Dazed and Coinfused

Look an article about a penny with the word cent on it. It’s a glitch in the matrix


That’s a pretty penny. Penny, Cent, it’s all One to me. How about those errors? Gotta love ’em.


I loved the Indian head penny and would really love that to be minted again or at least go back to the wheat back on the reverse of the Lincoln. To me, the shield design looks to formal.

Dazed and Coinfused

I think they prefer to be called Commander head pennies.


Go easy on her Kaiser, she was probably just singing the song ‘Penny Lane’ by the Beatles in her head and used the word that sounds better. Just try singing that song using cent in place of penny. It doesn’t work!

Dazed and Coinfused

You said it. “She”

According to great fathers, like my 3 sons, and leave it to beaver, women don’t understand money. With no job they sure did spend it quick enough. And at the rate in which they spend, they ain’t got time for pennies when they spending Grants like it was free college money and not paper.


Good thing I’ve got my gold at the end of the rainbow. I’m not even Irish.

Dazed and Coinfused

Wouldn’t that be stealing