On Wednesday, and for a second straight session, platinum and palladium gained while gold and silver declined. Gold’s loss was its third in a row. The yellow metal also posted a new, just over two-week low. Silver, meanwhile, logged an almost two-year low.
Gold for August delivery declined $3.70, or 0.2%, to settle at $1,817.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since June 14.
"Technically,August gold futures prices scored a mildly bearish ‘outside day’ down on the daily bar chart today. Bears have the overall near-term technical advantage. However, the recent sideways and choppy trading action at lower price levels is suggesting a market bottom is in place,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,810.70 and $1,834.90. They lost 0.2% on Tuesday and they shed 0.3% on Monday.
Silver for September delivery — the new, most-active contract — fell 13.4 cents, or 0.6%, to end at $20.738 an ounce. The settlement was the lowest since silver ended at $20.192 an ounce on July 20, 2020. Silver futures ranged from $20.61 to $21.07. They dropped 1.7% on Tuesday and they rose 0.2% on Monday.
In PGM futures on Wednesday:
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October platinum added $4.30, or 0.5%, to $909.90 an ounce, trading between $905.20 and $933. On Monday, platinum at $900.30 an ounce marked its lowest settlement since Dec. 15.
- Palladium for September delivery surged $84.70, or 4.6%, to $1,946.60 an ounce, ranging from $1,863 to $2,010.
US Mint Bullion Sales in 2022
Published U.S. Mint bullion sales were unchanged on Wednesday. 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) | |||||||
|---|---|---|---|---|---|---|---|
| Wednesday | Last Week | This Week | April | May | June | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 27,500 | 80,500 | 164,500* | 27,500 | 622,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 4,000 | 3,000 | 7,000* | 4,000 | 64,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 16,000 | 14,000 | 8,000 | 16,000 | 126,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 105,000 | 25,000 | 50,000 | 105,000 | 475,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 12,500 | 27,500 | 56,000 | 15,000 | 253,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 861,000 | 850,000 | 1,350,000* | 861,000 | 10,642,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 18,500 | 0 | 0 | 18,500 | 58,500 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
*On Monday, the U.S. Mint adjusted upwards May sales of: $50 Gold Eagles to 164,500 coins from 137,500 coins; $25 Gold Eagles to 7,000 coins from 5,000 coins; and American Silver Eagles to 1.350 million coins from 850,000 coins.
Don’t worry (be happy), today Goldman Sachs raised its gold price forecast to $2,500/oz by year’s end.
Can’t beat the Dollar so maybe Gold should join the Dollar and together they shine on your First-On-Thread victory Rich, your really taking care of business https://www.youtube.com/watch?v=ybtl9qVFAjc
Thanks for the First-On-Thread, SENZA. Right on about the Mighty Dollar, and I love to work at nothing all day…
Attention there is now a new Thread available
Thank You Major D,
Nice to be back – Hope all is well……….