Precious metals split on Tuesday with gold and palladium rising and silver and platinum falling. Silver and platinum ended at about three-week lows. Gold’s gain was its first in three sessions and follows its nearly two-and-a-half-year low on Monday
Gold for December delivery rose $2.80, or 0.2%, to settle at $1,636.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Today is just a little bit of a recovery after some of the extreme weakness seen over recent days … but I don’t think there’s really any fundamental change taking place in the gold market," Reuters quoted Ryan McKay, commodity strategist at TD Securities.
Gold futures traded between $1,628.70 and $1,650.10. They gave back 1.3% on Monday, marking their lowest settlement since April 1, 2020.
Silver for December delivery slipped 14.3 cents, or 0.8%, to finish at $18.337 an ounce. The close was silver’s lowest since it ended at $18.26 an ounce on Sept. 7. Silver futures ranged from $18.29 to $18.79. They fell 2.3% on Monday.
In other precious metals prices on Tuesday:
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January platinum — the new, most-active contract — declined $5.20, or 0.6%, to $839.70 an ounce, trading between $838 and $858. The settlement was the metal’s worst since Sept. 6.
- Palladium for December delivery advanced $41.40, or 2%, to $2,090.40 an ounce, ranging from $2,023 to $2,130.
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 | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 27,500 | 164,500 | 31,000 | 59,500 | 47,500 | 47,500 | 780,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 7,000 | 6,000 | 5,000 | 2,000 | 0 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 8,000 | 18,000 | 2,000 | 4,000 | 4,000 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 50,000 | 135,000 | 20,000 | 20,000 | 15,000 | 560,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 27,000 | 56,000 | 21,500 | 39,500 | 22,500 | 38,500 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 408,000 | 1,350,000 | 925,000 | 850,000 | 850,000 | 833,000 | 13,239,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 23,500 | 15,500 | 1,000 | 0 | 80,000 |
Up a little today. We’ll see what tomorrow brings.
Prices are up today (Sept 28th).