Precious metals rallied Tuesday, posting gains ranging from 1.9% for gold to 3.1% for platinum. In notable settlements, gold ended at an over 5.5-month high while silver finished at a more than 7.5-month high.
Marking a fifth increase in six sessions, gold for February delivery tacked on $33.20 to end at $1,825.50 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since Jun 24.
"Gold and silver prices are solidly higher in midday U.S. trading Tuesday, but down from daily highs, following a slightly tamer-than-expected U.S. inflation report. Gold surged to a five-month high and silver a seven-month high right after the report’s release," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"The slightly cooler-than-expected inflation data was enough to rally the stock and financial markets, and the metals, while tanking the U.S. dollar index," Wyckoff added.
The U.S. Labor Department reported Tuesday that consumer prices rose 0.1% in November after rising 0.4% in October, resulting in annual inflation easing to 7.1% from 7.7%.
Gold futures traded between $1,791.80 and $1,836.90. They fell 1% on Monday.
Silver for March delivery surged 58.7 cents, or 2.5%, to end at $23.99 an ounce. The settlement was the highest since April 22. Silver futures ranged from $23.49 and $24.39. They declined 1.3% on Monday.
In other precious metals prices on Tuesday:
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January platinum rose $30.90 to $1,038.90 an ounce, trading between $1,006 and $1,056.
- Palladium for March delivery added $52.60, or 2.8%, to $1,936.70 an ounce, ranging from $1,880.50 to $2,003.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales last changed on Nov. 21. 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) | |||||||
|---|---|---|---|---|---|---|---|
| December | July | August | September | October | November | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 59,500 | 47,500 | 47,500 | 59,500 | 6,000 | 846,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 5,000 | 2,000 | 0 | 2,000 | 0 | 75,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 4,000 | 4,000 | 2,000 | 0 | 140,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 20,000 | 20,000 | 15,000 | 15,000 | 0 | 575,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 39,500 | 22,500 | 44,500 | 39,500 | 4,500 | 410,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 850,000 | 850,000 | 833,000 | 1,258,000 | 1,407,000 | 15,904,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 15,500 | 1,000 | 0 | 0 | 0 | 80,000 |
ag—-down 1.3% next day up 2.5%. Let that trend continue?!!!