Precious metals prices tumbled Thursday, led by a 7.3% drop in palladium. Silver marked a nearly 22-month low and gold finished at a more than 3-month low.
Gold for June delivery fell $29.10, or 1.6%, to settle at $1,824.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Feb. 8 when gold ended at $1,821.80 an ounce.
Gold and silver were "pressured in part by a very strong U.S. dollar index that today scored a 20-year high. Bearish charts are also keeping the technically based bears active on the sell side in the futures markets,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note."
Gold futures ranged from $1,820.70 to $1,858.80. They rose 0.7% on Wednesday, they declined 1% on Tuesday, and they fell 1.3% on Monday.
Silver for July delivery tumbled 80.2 cents, or 3.7%, to close at $20.773 an ounce. The settlement was the lowest since silver ended at $20.192 an ounce on July 20, 2020. Silver futures traded between $20.59 and $21.63. They added 0.7% on Wednesday, they lost 1.8% on Tuesday, and they dropped 2.5% on Monday.
In other precious metals futures prices on Thursday:
-
July platinum declined $58.40, or 5.9%, to $931.40 an ounce, ranging from $929.30 to $987.40.
- Palladium for June delivery sank $147.30, to $1,860.60 an ounce, trading between $1,837 and $2,025.00.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on 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 | March | April | May | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 36,000 | 0 | 140,500 | 80,500 | 36,000 | 466,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 0 | 5,000 | 3,000 | 1,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 0 | 20,000 | 14,000 | 4,000 | 106,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 75,000 | 25,000 | 50,000 | 370,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 16,500 | 0 | 64,500 | 27,500 | 16,500 | 198,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 425,000 | 0 | 1,080,500 | 850,000 | 425,000 | 8,856,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 14,200 | 0 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Everything counts in large amounts.
Antonio,
The Dollar is
Your all Addicted to that Damn Dollar
Now that’s exactly what I’m talking about – do any of you who apparently frequently purchase gold and silver from the US Mint or anywhere else – actually have a plan to put it to tangible use someday
Sir Kaiser, your conclusion is logical.
I concur, https://www.youtube.com/watch?v=Wm58sGEdgAw&list=OLAK5uy_ldzMFmDA1sFzoH15lmeU29A5DVgi9RAM8
I get the point.
Hi Kaiser Wilhelm, If there is a complete national financial and social breakdown, the most valuable commodities will be food, water, and ammunition. You could trade any one of those for another. Ammunition is the only one of those you could use to acquire one of the others even if the other party is unwilling. Ammunition might be the most valuable commodity of them all. Gold and silver will be valuable again after the crisis is over, when the wealthy will want shiny trinkets again. If it is just a regional crisis (like Katrina was for New Orleans) gold and… Read more »
Hi Kaiser Wilhelm, In every civilization that crumbled and disappeared into the fog of history, the armed classes vanished to become armed individuals and start a new civilization when things stabilized. Don’t get me wrong, a herd mentality works too–for a species, just not for an individual. Sure, you might be able to survive unarmed, because the whole strength of herd mentality is there are not enough predators around to wipe out the whole herd. While being armed will not guarantee my survival during a crisis, I do know it will increase my individual chance of survival. I do not… Read more »
Hi Senza, I only have a small amount of gold, but have quite a bit of silver now. My only plan for all these has been to sell them when I have a personal income emergency, not at all for any kind of doomsday scenario involving many people. If no personal income emergency comes I plan to sell them when I feel I am a few years away from death. I do not feel I am going to go suddenly, I always felt I was going to feel it coming and suffer for it, because I noticed in my life… Read more »
Your words echo many of my experiences and thoughts – amazing – I just hope I can kick the Cherry Garcia and exist into the Twilight Years as you and your relatives https://www.youtube.com/watch?v=krxU5Y9lCS8
It’s not about Chuck, Sir Kaiser, it’s about enduring the Pain and those of us who endure the pain only to break even.
Sir Kaiser, you are right on the money! The price of gold is negatively correlated to the stock market most of the time. When the markets go down gold prices often go up. That being said, there are times when the price of gold and the stock market both go up or down in unison. Overall, however, time has shown that gold prices are not tied to the movements of stocks and bonds. Here are some factors that impact the price of gold per ounce: Strength of US dollar Industrial and commercial demand Gold supply Fed actions / monetary policy… Read more »
Antonio, you may have a First on Thread Addiction – One Superstar Award coming right up
A message from Coin Shops
Say what you will and as usual you Nailed it – there is no rationale – it’s planned chaos by those pulling the puppet strings and those who took the hook, line and sinker are now in panic-mode https://www.youtube.com/watch?v=mVuapD6rHkg
At risk of interrupting you talking to yourself – I agree, and being Graduation Season I have attended a few in recent days and these Graduations are more like Faculty Cults who praise and worship themselves then leave 5 minutes at the end of thier Satanic Ceremony to bestow Diploma’s upon the Graduates whom are for the most-part irrelevant to the Faculty.
I might add, all very similar to the Coin Mafia Cult always busy promoting and congratulating themselves for Dirty Deeds https://www.youtube.com/watch?v=BaWwrpBzxms
🙁