Gold performs higher in August; US Mint Bullion Sales Quicken

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The price of gold rose less than 0.1% in August

Precious metals moved in exactly the opposite direction on Tuesday compared to Monday, with palladium closing lower and gold, silver and platinum closing higher. Gold was the only one of the metals that made a monthly profit, however small it was.

gold for December delivery, $ 5.90 or 0.3% was added to settle at $ 1,818.10 per ounce at the Comex division of the New York Mercantile Exchange.

“Gold and silver traded both sides of the unchanged price move today. Both metals have seen their short-term chart positions improve recently, and that invites tech speculators to the long side of the futures markets,” said Jim Wyckoff, a Senior analyst at Kitco Inc said in a daily research note.

The price of gold ranged from a low of $ 1,803.40 to a high of $ 1,821.90. They climbed 0.05% higher in August and reduced their loss so far this year to 4.1%.

In the meantime, Silver- for December the delivery ended unchanged at $ 24,006 per ounce. Silver futures traded between $ 23.83 and $ 24.27. They posted a monthly loss of 6% and are 9.1% lower than in the year

In other precious metal futures prices on Tuesday and for August:

  • October platinum $ 12 or 1.2% added to $ 1,014.10 per ounce, but still posted a monthly decline of 3.3%.

  • palladium for December delivery, $ 8.10, or 0.3%, was returned to $ 2,471 per ounce, for a monthly decrease of 7%.

The two are split so far this year, with platinum 6% lower and palladium 0.7% higher.

US Mint Bullion on sale in 2021

The United States Mint’s published bullion sales on Tuesday increased 125,000 ounces for American Silver Eagles and a combined 3,500 ounces for American Gold Eagles.

Longer-term, the bullion coins American Eagle and Buffalo moved much faster in August than in July. Their sales in 2021 are also significantly higher than in 2020. In headline comparisons:

  • American Eagle gold coins rose 136,000 ounces, up 132.5% from 58,500 ounces in July and 12.4% from 121,000 ounces in August 2020. For the year to date, Gold Eagles sales are 37.7 at 847,500 ounces % over the 615,500 ounces sold in the first eight months of last year.

  • American Eagle silver coins rose 3,930,000 ounces, rose 26.6% from 3,104,000 ounces in July, and declined 12.2% from 4,477,000 ounces in August 2020 in 2020.

  • American Buffalo gold coins rose 27,500 ounces in August, up 89.7% from 14,500 ounces in July but 1.8% less than 28,000 ounces in August 2020. American Gold Buffalo sales for the year are so far with 235,500 ounces, up 28% over the 184,000 ounces shipped in the same period last year.

The following is a breakdown of US Mint Bar Product sales, with columns listing the number of coins sold during different time periods.

US Mint Bullion Sales (number of coins)
Tuesday Last week In this week June July August 2021 sale
$ 50 American Eagle 1 ounce gold coin 2,000 17,000 11,500 158,000 49,500 112,000 746,000
$ 25 American Eagle 1/2 Oz Gold Coin 0 0 0 15,000 10,000 21,000 77,000
$ 10 American Eagle 1/4 Oz Gold Coin 6,000 6,000 28,000 30,000 0 34,000 120,000
$ 5 American Eagle 1/10 Oz Gold Coin 0 10,000 0 90,000 40,000 50,000 330,000
$ 50 American Buffalo 1 Oz Gold Coin 0 4,500 4,500 27,500 14,500 27,500 235,500
$ 1 American Eagle 1 ounce silver coin 125,000 775,000 750,000 2,800,000 3,104,000 3,930,000 22,940,500
$ 100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 0 75,000
Tuskegee Airmen 5 oz silver coin 0 0 0 0 0 0 52,900

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