Precious metals rallied in their start to the new trading week, month and quarter. Silver led gains, soaring 8.1% and ending at a more than seven-week high. Gold rose the least, up 1.8%, but closed near a three-week high.
Gold for December delivery moved up $30 to settle at $1,702 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 14.
"The two precious metals [gold and silver] are catching a solid safe-haven bid as the global stock and financial markets remain jittery, as media outlets are focusing on a desperate Russian president that may resort to using nuclear weapons in his war with Ukraine, and amid bullish outside markets that see higher crude oil prices and a weaker U.S. dollar index on this day,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,666.50 and $1,709.40. They fell 1% last week and posted their sixth monthly loss in a row. Last Monday at $1,633.40 an ounce, gold logged its lowest settlement since April 1, 2020.
Silver for December delivery jumped $1.55 to settle at $20.589 an ounce. The close was silver’s best since Aug. 12. Silver futures ranged from $18.98 to $20.78. On Friday, they marked a 6.5% monthly increase.
In other precious metals futures prices on Monday:
-
January platinum added $41, or 4.8%, to $900.10 an ounce, ranging from $856.20 to $903.80.
- Palladium for December delivery gained $50, or 2.3%, to $2,232.20 an ounce, trading between $2,167.50 and $2,264.50.
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 | Last Week | May | June | July | August | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 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 | 0 | 50,000 | 135,000 | 20,000 | 20,000 | 15,000 | 560,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 56,000 | 21,500 | 39,500 | 22,500 | 38,500 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 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 |
Lookin’ good.
And gold is above $1700 again.
Looking forward to adding to our silver reserves next year.
Not sure where you reside KW, but I do hope you are in a low tax state somewhere, where as you know is gaining popularity with people moving away from cities and states that can not control themselves for spending, or who have let the criminals run amok. I am sure you will find this statement to be apolitical given your list above for not being in a position for discretionary income. It is ok to ask yourself why this has happened, and to make a change.
Speaking of socialism, I got a free slice of cake from someone today. Silver is above $21.
A 1kg silver for $2,960.23. Only 500 available and I believe they’ve sold out.
You may also buy a 1kg gold for $95,174.76. Only 30 available.