Precious metals declined on Wednesday, marking losses that ranged from 0.9% for palladium to 2.9% for platinum. Gold ended the day at a more than three-week low.
Gold for December delivery fell $21.60, or 1.3%, to settle at $1,634.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Sept. 26.
"The precious metals are being punished by a strong U.S. dollar index and rising U.S. Treasury yields. These two bearish elements continue to supersede any other potentially bullish factors for the metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,632.20 and $1,659.80. They shed 0.5% on Tuesday and they rose 0.9% on Monday
Silver for December delivery declined 24.1 cents, or 1.3%, to settle at $18.359 an ounce. Silver futures ranged from $18.30 and $18.76. They lost 0.6% on Tuesday and they rallied 3.6% on Monday.
In PGM futures on Wednesday:
-
January platinum fell $26.20 to $881.10 an ounce, trading between $880.10 and $911.60.
- Palladium for December delivery declined $18.40 to $1,995.50 an ounce, ranging from $1,951 to $2,028.50. The settlement was the lowest since Sept. 6.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Wednesday. 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) | |||||||
|---|---|---|---|---|---|---|---|
| Wednesday / This Week | 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 |
