Precious metals registered gains on Monday that ranged from 0.1% for palladium to 3.6% for silver. Advances in silver and palladium were their first in seven sessions.
Gold for December delivery rose $15.10, or 0.9%, to settle at $1,664 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are solidly higher at midday Monday, supported by a strong daily pullback in the U.S. dollar index and by U.S. Treasury yields falling a bit. The main focus on gold and silver traders remains on the daily price direction of the U.S. dollar index," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,649.10 and $1,674.30. They fell 3.5% last week, ending Friday at their lowest price since Sept. 27.
Silver for December delivery surged 64.8 cents to settle at $18.719 an ounce. Silver futures ranged from $18.15 and $18.89. They plunged 10.8% last week, closing Friday at their weakest price since Sept. 6.
In other precious metals futures prices on Monday:
-
January platinum tacked on $18.70, or 2.1%, to $913.60 an ounce, trading between $896.50 and $922.50.
- Palladium for December delivery edged up $2.60 to $1,999.90 an ounce, ranging from $1,983 to $2,040.
Last week, platinum lost 2.5% and palladium dropped 8.9%. Palladium also ended Friday, like silver, at its worst price since Sept. 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 | June | July | August | September | October | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 31,000 | 59,500 | 47,500 | 47,500 | 0 | 780,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 6,000 | 5,000 | 2,000 | 0 | 0 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 18,000 | 2,000 | 4,000 | 4,000 | 0 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 135,000 | 20,000 | 20,000 | 15,000 | 0 | 560,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 21,500 | 39,500 | 22,500 | 44,500 | 21,500 | 387,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 925,000 | 850,000 | 850,000 | 833,000 | 0 | 13,239,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 23,500 | 15,500 | 1,000 | 0 | 0 | 80,000 |
It’s always interesting to see how much of a difference in value a one per cent, for example, increase or decrease in the price of one of the precious metals translates in actual dollar value to the increase or decrease in the price of another, with the comparison of Silver and Palladium consistently demonstrating the most dramatic disparity.
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