Silver, platinum and palladium kicked off the new trading week with gains but gold dipped, ending on Monday just below $1,800 an ounce.
Gold for August delivery settled down $2.60, or 0.1%, to $1,799.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since July 6.
"Gold prices are a bit weaker in subdued summertime U.S. trading at middday Monday, losing some early gains that came amid a weaker U.S. dollar index to start the trading week. Steady to weaker U.S. stock indexes at midday and weaker global stock markets overnight are limiting selling pressure on the metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,796 to a high of $1,812. They slipped 0.7% last week for their first weekly loss in five weeks.
Silver for September delivery rose 8.5 cents, or 0.3%, to settle at $25.318 an ounce. Silver futures traded between $25.17 and $25.51. They shed 2.2% last week.
In other precious metals futures Monday:
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October platinum added $8.60, or 0.8%, to $1,070 an ounce, ranging from $1,054 to $1,073.50.
- Palladium for September delivery added $15.70, or 0.6%, to $2,678.10 an ounce, trading between $2,653 and $2,707.50.
Last week platinum dropped 4.3% while palladium gained 1%.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales figures were unchanged Monday. 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) | ||||||
|---|---|---|---|---|---|---|
| Monday | Last Week | May | June | July | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 4,500 | 20,500 | 158,000 | 43,500 | 628,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 15,000 | 10,000 | 56,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 30,000 | 0 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 90,000 | 0 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 44,000 | 27,500 | 14,000 | 207,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 805,000 | 0 | 2,800,000 | 2,344,000 | 18,250,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 40,000 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 2,900 | 0 | 0 | 52,900 |
Kaiser-
Yep, I wholeheartedly agree!
Silver prices are down a good amount for the first half of this year for sure. And, that gives us coin collectors & silver stackers a chance to “cost average” by purchasing some each month no matter what the price. But, silver is still only about half the price of it’s all-time historical record price in the USA of about $50.35 in 1980.
Given its very high electrical conductivity & use in solar panels & medicine (it’s anti-bacterial properties) etc., the price of silver should be much higher for sure.
NumisdudeTX