Precious metals bounced Thursday from their prior-day losses. Gold’s rise was modest, up from a more than three-week low, while prices jumped for silver, platinum and palladium.
Gold for December delivery added $2.60, or 0.2%, to settle at $1,636.80 an ounce on the Comex division of the New York Mercantile Exchange.
"It is still our opinion that if rates continue to creep higher as they do, it will continue to lean on the gold market in the near term," Reuters quoted David Meger, director of metals trading at High Ridge Futures.
"The focus continues to be clearly on interest rates and Fed rate-hike expectations."
Gold futures traded between $1,626.30 and $1,650.30. They fell 1.3% on Wednesday, for their lowest finish since Sept. 26, they shed 0.5% on Tuesday, and they rose 0.9% on Monday
Silver for December delivery tacked on 33 cents, or 1.8%, to settle at $18.689 an ounce. Silver futures ranged from $18.15 and $18.96. They declined 1.3% on Wednesday, they lost 0.6% on Tuesday, and they rallied 3.6% on Monday.
In other precious metals prices on Thursday:
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January platinum surged $34, or 3.9%, to $915.10 an ounce, trading between $875 and $918.80.
- After ending Wednesday at its lowest level since Sept. 6, palladium for December delivery soared $84.10, or 4.2%, to $2,079.60 an ounce. Palladium ranged from $1,970.50 to $2,094.50.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Thursday. 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) | |||||||
|---|---|---|---|---|---|---|---|
| Thursday / 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 |
Just sitting on it and it’s sure to rise eventually.