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Gold divers in November; US Mint Bullion sales mixed

Gold was down 0.4% in November

Precious metals fell Tuesday, adding to their November losses. These losses were modest for gold, but heavy for silver, platinum, and palladium.

gold February delivery decreased by 8.70 USD, 0.5% to settle at $ 1,776.50 per ounce at the Comex division of the New York Mercantile Exchange. The comparison was the lowest since November 3, when gold ended at $ 1,763.90 an ounce.

“The main drivers for gold will be the simple fact that the Fed cannot go very far on the path to normalizing policy without either collapsing financial markets or hitting the debt-servicing cost wall,” MarketWatch quoted Brien Lundin, editor-in-chief, quoted by MarketWatch Gold newsletter. “As soon as investors realize this, likely when the Fed either has to step back from the throttling or starts the first rate hike, gold will take off.”

Gold futures are down 0.4% in November and are down 6.3% year-over-year.

silver for March delivery slipped 3.7 cents, or 0.2%, to level off at $ 22,815 an ounce. The comparison was the weakest since October 12, when silver closed at $ 22.514 an ounce. Silver futures fell 4.7% for the month and are now 13.6% lower than last year.

In other precious metal futures prices on Tuesday and for the month:

  • January platinum lost $ 37.20, or 3.9%, and ended at $ 927.30 per ounce, for a 9.2% loss in November.

  • palladium March delivery fell $ 83.70, or 4.7%, and ended at $ 1,705.50 per ounce, for a monthly loss of 13.9%.

With losses of 14.1% for platinum and 30.5% for palladium, both are also below the year-to-date level.

US Mint Bullion on sale in 2021

United States Mint bullion sales split in November versus October, with gold coins moving more slowly and silver coins moving faster overall. In headline comparisons:

  • American Eagle gold coins rose 126,000 ounces in November, 17.7% from 153,000 ounces in October, while they rose 48.2% from 85,000 ounces in November 2020. Year-to-date sales of American Gold Eagles were 1,201,500 ounces, 51.2% higher than 794,500 ounces were sold in the first eleven months of last year.

  • American Eagle silver coins rose 1,447,000 ounces and rose 34.5% from 1,076,000 ounces in October, while falling 69.9% from 4,805,000 ounces in November 2020 at the same time in 2020.

  • American Buffalo gold coins rose 39,000 ounces in November, up 4.9% from 41,000 ounces in October and 66% from 23,500 ounces in November 2020 ounces shipped during the same period last year.

  • In November, American Eagle palladium coins were launched with the date 2021 with 8,700 coins sold. No precious metal edition was issued last year.

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

US Mint Bullion Sales (number of coins)
Tuesday Last week In this week September October November 2021 sale
$ 50 American Eagle 1 ounce gold coin 0 24,000 19,500 67,500 135,500 116,500 1,065,500
$ 25 American Eagle 1/2 Oz Gold Coin 0 0 0 4,000 7,000 6,000 94,000
$ 10 American Eagle 1/4 Oz Gold Coin 0 2,000 2,000 8,000 22,000 10,000 160,000
$ 5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 35,000 85,000 40,000 490,000
$ 50 American Buffalo 1 oz gold coin 0 8,500 4,000 24,000 41,000 39,000 339,500
$ 1 American Eagle 1 ounce silver coin 0 0 448,000 2,735,000 1,076,000 1,447,000 28.198.500
$ 100 American Eagle 1 ounce platinum coin 0 0 0 0 0 0 75,000
$ 25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 8,700 8,700
Tuskegee Airmen 5 oz silver coin 0 0 0 0 0 0 52,900

Article Source : https://www.coinnews.net/2021/11/30/gold-dips-in-november-us-mint-bullion-sales-mixed/

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