Here’s a look at the latest developments in the precious metals market for the week beginning 8/16/2021.
- Gold price pushes into positive territory
- US Mint APs Offered First and Last Runs of 2021 American Eagle Bullion
- Alphabet diamonds put a spin on personalized jewelry
Gold price pushes into positive territory
The gold market is seeing some modest support as prices continue to bounce off their session lows following weaker than expected data from the New York Federal Reserve.
Monday, the regional central bank said its Empire State manufacturing survey’s general business conditions index fell to a reading of 18.3 in August, down significantly from July’s reading of 43.
The data was worse than expected as consensus forecasts were calling for a reading around 28.9.
The gold market has bounced into positive territory following the disappointing manufacturing data. December gold futures last traded at $1,780.30 an ounce, up 0.12% on the day.
Analysts noted that the survey’s 25-point drop is the biggest since the U.S. economy was ground to a halt at the start of the COVID-19 pandemic last year.
To learn more: Gold price pushes into positive territory following sharp drop in New York fed Empire State survey.
US Mint APs Offered First and Last Runs of 2021 American Eagle Bullion Coins
The Mint is offering the last day of production of 2021 classic design American Eagle and first day of production of the new design 2021 American Eagle Gold and Silver One Ounce Bullion Coins to Authorized Purchasers (APs).
APs consist of major coin and precious metal dealers, brokerage companies, and other participating financial intermediaries.
These coins were to have a market-based premium consistent with the value associated with the last of one design and the first of a new design.
New information was released from the Mint and includes their product codes, production dates, and box serial numbers.
To learn more: US Mint APs Offered First and Last Runs of 2021 American Eagle Bullion Coins
Alphabet diamonds put a spin on personalized jewelry
Diamonds are taking on a new shape in the hands of New York-based jeweller K Kane, who converts rough diamonds into initials for final jewelry. The Alphabet Diamonds are rough diamonds cut into the letters of the alphabet and set in platinum, hung on a 14K yellow gold chain.
Carving diamonds is challenging work, and Kane says the success hinges on find the correct stones, “We start by looking for the rough right diamond, which have to be a very specific shape for the letter cutting.”
To Learn More: Alphabet diamonds put a spin on personalized jewelry