Precious metals ended lower on Wednesday. Their losses ranged from 0.7% for gold to 3.9% for palladium. Gold’s drop was its first in six sessions.
Gold for December delivery lost $13.30 to settle at $1,776.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Rising U.S. Treasury yields, a firmer U.S. dollar index and lower crude oil prices at mid-week are squelching buying interest in the precious metals. An up-tick in trader/investor risk appetite today is also bearish for the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,770 and $1,789.40. They edged up 0.1% on Tuesday, for their strongest close since July 1, and they gained 0.3% on Monday.
Falling for a second day in a row after advancing for five straight sessions, silver for September delivery shed 24.5 cents, or 1.2%, to end at $19.894 an ounce. Silver futures ranged from $19.75 to $20.14. They fell 1.1% on Tuesday and they gained 0.8% on Monday to end at their best price since June 29.
In PGM futures on Wednesday:
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October platinum declined $16.50, or 1.8%, to $888.50 an ounce, trading between $880.50 and $896.40.
- Palladium for September delivery fell $82.30 to $2,007.90 an ounce, ranging from $1,983.50 to $2,093. On Monday, palladium at $2,199.40 an ounce registered its highest finish since May 4.
US Mint Bullion Sales in 2022
Published United States 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 / Week / August | May | June | July | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 164,500 | 31,000 | 59,500 | 685,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 7,000 | 6,000 | 5,000 | 71,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 8,000 | 18,000 | 2,000 | 130,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 50,000 | 135,000 | 20,000 | 525,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 56,000 | 21,500 | 39,500 | 299,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,350,000 | 925,000 | 850,000 | 11,556,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 23,500 | 15,500 | 79,000 |
Today somebody told me they were doubling down on Silver so they could trade it in for Gold
Me leprechaun gold is rising. 😉