Silver, platinum and palladium rallied on Monday, scoring settlement highs that ranged from nearly four weeks to almost five weeks. Gold also advanced on the day, although much more modestly compared to other metals.
Gold for December delivery tacked on $12, or 0.7%, to settle at $1,740.60 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the best since Aug. 29.
"The precious metals are supported by a depreciating U.S. dollar on the foreign exchange market. The U.S. dollar index is sharply lower today and hit a two-week low after last week posting a 20-year high. A dip in U.S. Treasury yields to start the trading week is also a positive for the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,722.30 and $1,746.40. They edged 0.4% higher last week, for their first weekly win in four weeks.
Up for a sixth straight session, silver for December delivery soared $1.09, or 5.8%, to end at $19.86 an ounce. The settlement was the highest since Aug. 16.
Silver prices traded between $18.77 and $20.01. They rallied 5% last week, also four their first weekly gain in four weeks.
In other precious metals prices on Monday:
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Also rising for a sixth session in a row, October platinum rose $27.30, or 3.1%, to $904.20 an ounce, ranging from $866.90 and $905.50. The close was the strongest since Aug. 18.
- Climbing for a fourth session, palladium for December delivery gained $97, or 4.5%, to $2,274.60 an ounce, trading between $2,160.50 and $2,280. The finish was the strongest since Aug. 11.
Last week, platinum jumped 7.2% and palladium surged 7.5%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Monday. 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) | |||||||
|---|---|---|---|---|---|---|---|
| Monday | May | June | July | August | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 164,500 | 31,000 | 59,500 | 47,500 | 20,000 | 753,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 7,000 | 6,000 | 5,000 | 2,000 | 0 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 8,000 | 18,000 | 2,000 | 4,000 | 4,000 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 50,000 | 135,000 | 20,000 | 20,000 | 5,000 | 550,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 56,000 | 21,500 | 39,500 | 22,500 | 11,500 | 333,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,350,000 | 925,000 | 850,000 | 850,000 | 425,000 | 12,831,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 23,500 | 15,500 | 1,000 | 0 | 80,000 |
What’s up with silver!
My precious 🙂