Precious metals posted gains Thursday that ranged from 0.8% for palladium to 3.6% for silver. Gold ended the day at a six-week high.
Gold for December delivery — the new, most-active contract — tacked on $31.20, or 1.7%, to settle at $1,835.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 16.
"You’re going to see inflation heat up moving forward because the Fed is more focused on employment and is not going to fight them in the near-term and that is a positive environment for precious metals," Reuters quoted David Meger, director of metals trading at High Ridge Futures.
"This is not a flash-in-the-pan type rally but a more sustainable one because nothing is standing in gold’s way."
Gold futures ranged from a low of $1,810.90 to a high of $1,837.50. They slipped 0.01% on Wednesday, they edged up 0.03% on Tuesday, and they dipped 0.1% on Monday, marking their lowest settlement since July 6.
Silver for September delivery surged 90.5 cents to settle at $25.782 an ounce. Silver futures traded between $25 and $25.88. They gained 0.9% on Wednesday, they dropped 2.6% on Tuesday, and they rose 0.3% on Monday.
In other precious metals futures prices Thursday:
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October platinum added $9.50, or 0.9%, to $1,067.60 an ounce, ranging from $1,062.70 to $1,081.30.
- Palladium for September delivery rose $20.50 to $2,643.10 an ounce, trading between $2,627 and $2,677.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales were unchanged Thursday. 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) | |||||||
|---|---|---|---|---|---|---|---|
| Thursday | Last Week | This Week | May | June | July | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 4,500 | 6,000 | 20,500 | 158,000 | 49,500 | 634,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 15,000 | 10,000 | 56,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 0 | 30,000 | 0 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 40,000 | 0 | 90,000 | 40,000 | 280,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 500 | 44,000 | 27,500 | 14,500 | 208,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 805,000 | 760,000 | 0 | 2,800,000 | 3,104,000 | 19,010,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 40,000 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 2,900 | 0 | 0 | 52,900 |
