Precious metals gave back on Tuesday much more than what they gained on Monday. Gold and silver ended the day near one-week lows.
Gold for April delivery shed $8, or 0.4%, to finish at $1,921.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since March 16.
"Sharply rising U.S. Treasury yields are putting pressure on the precious metals markets, as well as the recent rally in the U.S. stock indexes," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"The U.S. Treasury markets are under more solid selling pressure Tuesday, following the hawkish rhetoric coming from Federal Reserve Chairman Jerome Powell on Monday at a NABE speech. The Fed chief said he is prepared to raise the key U.S. interest rate by 0.5% if conditions warrant," Wyckoff added.
Gold futures ranged from $1,909.80 to $1,939.50. They inched 0.01% higher on Monday.
Silver for May delivery fell 40.9 cents, or 1.6%, to close at $24.904 an ounce. Like for gold, silver’s close was its lowest since March 16. Silver futures traded between $24.69 and $25.59. They rose 0.9% on Monday.
In other precious metals prices Tuesday:
-
April platinum lost $19.60, or 1.9%, to $1,025.10 an ounce, ranging from $1,017.20 to $1,049.20.
- Palladium for June delivery dropped $60.80, or 2.4%, to $2,476.50 an ounce, trading between $2,464.50 and $2,609.50.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Tuesday. 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) | |||||||
|---|---|---|---|---|---|---|---|
| Tuesday | Last Week | This Week | January | February | March | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 41,500 | 123,500 | 86,000 | 110,500 | 320,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 3,000 | 45,000 | 0 | 4,000 | 49,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 4,000 | 64,000 | 4,000 | 16,000 | 84,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 20,000 | 195,000 | 25,000 | 65,000 | 285,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 20,500 | 61,500 | 28,500 | 47,500 | 137,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 480,500 | 5,001,000 | 1,500,000 | 1,080,500 | 7,581,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 3,000 | N/A | 25,800 | 14,200 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Sir Kaiser and SENZA, I was waiting for one of you to claim first prize today, but to no avail. I figure SENZA must still be busy cancelling his ebay customer orders for the Sally Ride quarters, and the news today is about as boring as watching and waiting for interest rates to rise. What we need is the kind of excitement that only a “Tall Paul” Volcker could provide.
Congrats Rich, I like how you faked me into the Sally Ride chat then made your bold move to metals decline Tuesday – shrewd very shrewd but enough of that let’s get on with the award https://www.youtube.com/watch?v=bKmtlKH886I
Blew Mountain State…I get it. Delicious! Outrageous! Hilarious! Outstanding!
What a way to celebrate Good Sir Rich taking home the First On Thread Award!
I’m not sure where SENZA was today so that he wasn’t around to claim the pole position, Good Sir Rich, but Der Kaiser was at his doctor’s office for his annual physical. My prize was that I checked out A-O.K. and I’m more than happy with that.
Congrats on Great Health and Clear Mind
My Doc asked for Blood, Urine, Stool and Semen I told her I was in a hurry and just left my underwear – the results will be back soon 24 – 36 hours.
Thank you ever so much for the very kind words, SENZA; deeply appreciated!
I love your version of a physical. One might call that a drive-thru checkup.
SENZA and Sir Kaiser, you are Ungovernable! Rock On and Stay Hungry!
Thanks Rich,
Power to the People
Rock On
SENZA,
Looks like the hot rush of independence and liberty!
Good Sir Rich,
You are very kind to say that and if I may say so extraordinarily polite. I think the no holds barred version of that would be “Uncontrollable”!