Precious metals rallied together for a second straight session on Tuesday, led by a 4.4% increase in palladium. Silver marked a more than fourteen-week high and gold finished at an over three-week high.
Gold for December delivery rose $28.50, or 1.7%, to settle at $1,730.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 12.
"Trading so far this week sees a sharply lower U.S. dollar index, rallying crude oil prices, falling U.S. Treasury yields and safe-haven demand—a fully fundamental bullish cocktail for the two precious metals. The near-term chart postures have also markedly improved for gold and silver,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,704 and $1,738.70. They moved up 1.8% on Monday.
Silver for December delivery surged 51 cents, or 2.5%, to settle at $21.099 an ounce. The close was silver’s best since June 27. Silver futures ranged from $20.68 to $21.31. They soared 8.1% on Monday.
In other precious metals futures prices Tuesday:
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January platinum soared $33.60, or 3.7%, to $933.70 an ounce, ranging from $899.60 to $941.20.
- Palladium for December delivery jumped $98 to $2,330.20 an ounce, trading between $2,227 and $2,360.
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 | 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 |
As I wrote previously, the price will go back up. I have my turban on. 🙂
Everything is popping with the Dollar dropping.
You’re wearing the turban! You read my mind!
To sate your curiosity, spot price. I don’t trust futures. Where do you see yourself in five years?
Me too, I usually quote Spot.