Palladium edged higher on Tuesday, after logging a near six-month low on Monday, while gold, silver and platinum declined and marked another round of settlement lows.
Gold for August delivery fell $18.30, or 1%, to settle at $1,813.50 an ounce on the Comex division of the New York Mercantile Exchange. The close was the lowest since May 13 when gold ended at $1,808.20 an ounce.
"A strong U.S. dollar index that this week hit a 20-year high and U.S. Treasury yields that this week hit multi-year highs are significantly bearish elements keeping the metals prices under selling pressure. Gold and silver bulls got no help from another hot U.S. inflation reading today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"Today’s U.S. producer price index report for May came in a up 10.8%, year-on-year and up 0.5% from April. "
Gold futures traded between $1,806.40 and $1,833.30. They dropped 2.3% on Monday.
Silver for July delivery shed 30.1 cents, or 1.4%, to close at $20.954 an ounce. The settlement was the weakest since May 12 when silver ended at $20.773 an ounce. Silver futures ranged from $20.84 and $21.36. They lost 3.1% on Monday.
In other precious metals futures on Tuesday:
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July platinum declined $21.60, or 2.3%, to $910.70 an ounce, trading between $908.70 and $939.30. The finish was the lowest since April 27 when platinum ended at $910.40 an ounce.
- Palladium for September delivery rose $1.80, or 0.1%, to $1,780.20 an ounce, ranging from $1,765 to $1,836. On Monday, palladium dropped 6.7% and closed at its lowest price since Dec. 20.
US Mint Bullion Sales in 2022
Published U.S. 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 / This Week | Last Week | April | May | June | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 80,500 | 137,500 | 0 | 568,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 3,000 | 5,000 | 0 | 58,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 14,000 | 8,000 | 0 | 110,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 25,000 | 50,000 | 0 | 370,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,500 | 27,500 | 56,000 | 2,500 | 240,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 850,000 | 850,000 | 0 | 9,281,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
