Gold Edges higher in August; U.S. Mint bullion sales accelerate
Precious metals moved the exact opposite on Tuesday from Monday, with palladium ending lower and gold, silver and platinum higher. Gold was the only metal to post a monthly gain, however small.
Gold for delivery in December added $ 5.90, or 0.3%, to be paid at $ 1,818.10 per ounce on the Comex division of the New York Mercantile Exchange.
Gold and Silver traded on both sides unchanged today in choppy price action. Both metals have seen their short-term chart positions improve recently and this invites technical speculators to position themselves on the long side of the futures markets, ”Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold prices ranged from a low of $ 1,803.40 to a high of $ 1,821.90. They edged up 0.05% in August, reducing their loss for the year to date to 4.1%.
During this time, money for the December delivery ended unchanged at $ 24.006 per ounce. Silver futures were trading between $ 23.83 and $ 24.27. They posted a monthly loss of 6% and are down 9.1% on the year
In the futures prices of other precious metals on Tuesday and for August:
October platinum added $ 12, or 1.2%, to $ 1,014.10 per ounce, but still recorded a monthly decline of 3.3%.
- Palladium for the December delivery remitted $ 8.10, or 0.3%, to $ 2,471 per ounce, for a monthly decrease of 7%.
The two are split over the year so far, with platinum being 6% lower and palladium 0.7% higher.
Sales of U.S. currency bullion in 2021
Published US Mint bullion sales increased Tuesday by 125,000 ounces of American Silver Eagles and 3,500 combined ounces of American Gold Eagles.
Longer term, American Eagle and Buffalo bullion coins moved much faster in August than in July. Their sales in 2021 are also significantly higher than in 2020. In stock comparisons:
American Eagle gold coins rose 136,000 ounces, posting increases of 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 at 847,500 ounces are 37.7% higher than 615,500 ounces. sold in the first eight months of last year.
American Eagle silver coins advanced 3,930,000 ounces, rising 26.6% from 3,104,000 ounces in July and falling 12.2% from 4,477,000 ounces in August 2020. Sales Silver Eagle’s earnings for the year at 22,940,500 coins are 26.2% higher than the 18,178,000 coins sold during the same period. in 2020.
American Buffalo gold coins rose 27,500 ounces in August, up 89.7% from 14,500 ounces in July, but 1.8% below 28,000 ounces in August 2020. Sales American Gold Buffalo’s for the year to date, at 235,500 ounces, is 28% higher than 184,000 ounces. delivered at the same time last year.
Below is a breakdown of the sales of US Mint bullion products with columns listing the number of coins sold during different time periods.
|Sales of U.S. currency bullion (number of coins)|
|Tuesday||Last week||This week||June||July||August||Sales 2021|
|$ 50 1 oz American Eagle Gold Coin||2,000||17,000||11,500||158,000||49,500||112,000||746,000|
|$ 25 1/2 oz American Eagle Gold Coin||0||0||0||15,000||10,000||21,000||77,000|
|1/4 oz $ 10 American Eagle Gold Coin||6000||6000||28,000||30,000||0||34,000||120,000|
|$ 5 1/10 oz American Eagle Gold Coin||0||10,000||0||90,000||40,000||50,000||330,000|
|$ 50 1 oz American Buffalo Gold Coin||0||4,500||4,500||27,500||14,500||27,500||235,500|
|$ 1 1 oz American Eagle Silver Coin||125,000||775,000||750,000||2,800,000||3,104,000||3,930,000||22 940 500|
|$ 100 1 oz Platinum American Eagle Coin||0||0||0||0||0||0||75,000|
|5 oz Tuskegee Airmen Silver Coin||0||0||0||0||0||0||52,900|