On Tuesday, gold, silver and platinum posted their first gains in seven sevens, rebounding from almost four-week lows. Palladium, however, fell for a third straight session and to another nearly five-week low.
Gold for December delivery advanced $12.80, or 0.7%, to settle at $1,761.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are higher in midday U.S. trading Tuesday, on short covering in the futures markets and bargain hunting in the cash markets, following recent selling pressure. The key "outside markets" are also in a bullish daily posture for the metals today, as the U.S. dollar index backed off a bit and crude oil prices were solidly higher," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,743.10 and $1,767.50. They declined 0.8% on Monday to log their lowest settlement since July 27.
Silver for September delivery rose 14.8 cents, or 0.8%, to end at $19.026 an ounce. Silver futures ranged from $18.65 to $19.16. They shed 1% on Monday, also for their lowest finish since July 27.
In other precious metals prices Tuesday.
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October platinum added $8.40, or 1%, to $876.40 an ounce, trading between $856.60 and $883.90. On Monday, they registered their weakest close since July 26.
- Palladium for September delivery fell $8.90, or 0.5%, to $1,972.90 an ounce — the lowest since July 21, ranging from $1,965 to $2,025.50.
US Mint Bullion Sales in 2022
Published United States 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 | May | June | July | August | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 6,000 | 164,500 | 31,000 | 59,500 | 27,000 | 712,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 7,000 | 6,000 | 5,000 | 1,000 | 72,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 8,000 | 18,000 | 2,000 | 2,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 135,000 | 20,000 | 15,000 | 540,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,500 | 56,000 | 21,500 | 39,500 | 11,000 | 310,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 17,000 | 1,350,000 | 925,000 | 850,000 | 425,000 | 11,981,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 23,500 | 15,500 | 1,000 | 80,000 |
Gold and silver are down today. So is petroleum. We’ll see what tomorrow brings. Maybe someone will sneeze and that’ll get things moving.
Today, Gold advanced $12.80, or 0.7%, and Silver rose 14.8 cents, or 0.8%. Yay!
Hmmm, I doubt I’ll see silver at $50 in my lifetime.