Gold prices rose for a second day in a row on Wednesday after falling for six consecutive sessions. Palladium also gained following three straight losses. Silver and platinum, however, dropped for their seventh losses in eight sessions.
Gold for December delivery inched up 30 cents, or 0.02%, to settle at $1,761.50 an ounce on the Comex division of the New York Mercantile Exchange.
Gold firmed "on a routine upside price correction from recent selling pressure. Short covering in the futures market and some perceived bargain buying in the cash market are featured. The U.S. dollar index is trading slightly down and near its daily low, which also gave the metals market bulls a bit of encouragement. However, rising U.S. Treasury bond yields at mid-week has limited buying interest in the metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,754.80 and $1,769.50. They advanced 0.7% on Tuesday and they declined 0.8% on Monday to log their lowest settlement since July 27.
Silver for September delivery declined 11.9 cents, or 0.6%, to close at $18.907 an ounce. Silver futures ranged from $18.81 to $19.11. They rose 0.8% on Tuesday and they shed 1% on Monday, also for their lowest finish since July 27.
In PGM futures on Wednesday:
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October platinum fell $9.60, or 1.1%, to $866.80 an ounce — their weakest finish since July 26, trading between $858.20 and $879.10.
- Palladium for September delivery jumped $52.70, or 2.7%, to $2,025.60 an ounce, ranging from $1,958 to $2,041. On Tuesday, they marked their lowest settlement since July 21.
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 / 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 |
