Precious metals advanced on Thursday, posting gains ranging from 1.2% for gold to 3.2% for platinum. Both gold and silver ended the day at one-month highs.
Gold for August delivery tacked on $22.70 to settle at $1,871.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 6.
"Gold and silver prices are solidly up in midday U.S. trading Thursday, supported by a drop in the U.S. dollar index on this day. The near-term chart postures are improving for both metals, and that’s also inviting more technically oriented traders to the long sides," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,846.50 and $1,874.40. They edged 0.02% higher on Wednesday and they shed 0.5% on Tuesday, ending the month of May with a 3.3% decline.
Silver for July delivery advanced 36 cents, or 1.6%, to settle at $22.275 an ounce. Like for gold, the settlement was silver’s highest since May 6. Silver futures ranged from $21.78 to $22.36. They gained 1.1% on Wednesday and they fell 1.9% on Tuesday, posting a loss in May of 6.1%.
In other precious metals prices on Thursday:
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July platinum soared $32 to $1,028.40 an ounce, trading between $988.30 and $1,029.20.
- Palladium for September delivery surged $45.60, or 2.3%, to $2,047.50 an ounce, ranging from $1,983.50 to $2,052.50.
US Mint Bullion Sales in 2022
Published U.S. 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 / Week / June | Last Week | March | April | May | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 44,500 | 140,500 | 80,500 | 137,500 | 568,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 3,000 | 5,000 | 3,000 | 5,000 | 58,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 20,000 | 14,000 | 8,000 | 110,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 75,000 | 25,000 | 50,000 | 370,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 15,500 | 64,500 | 27,500 | 52,000 | 234,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 1,080,500 | 850,000 | 850,000 | 9,281,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 14,200 | 0 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
Last year silver was king. This year, not so much. Gold will always be popular. Platinum and Palladium I think are for industry. That’s where that money is.