Gold decline while silver, platinum and palladium gained in their start to the new trading week on Tuesday. U.S. markets closed Monday for Presidents Day. Gold ended the day at a 1.5-month low.
Gold for April delivery shed $7.70, or 0.4%, to settle at $1,842.50 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s lowest since it ended at $1,840.60 ounce on Jan. 5.
"A higher U.S. dollar index, slightly lower crude oil prices and rising U.S. Treasury yields on this day are bearish outside market forces working against the precious metals markets bulls," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,839 and $1,856.40. They lost 1.3% last week.
Meanwhile, silver for March delivery rose 17.5 cents, or 0.8%, to end at $21.89 an ounce. Silver futures ranged from $21.55 to $22. They declined 1.6% last week.
In other precious metals prices on Tuesday:
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April platinum jumped $27.20, or 3%, to $948.60 an ounce, trading between $916.30 and $950.60.
- Palladium for March delivery advanced $28.20, or 1.9%, to $1,520.70 an ounce, ranging from $1,480 to $1,538.50.
Last week, platinum dropped 3.2% and palladium fell 2.1%.
US Mint Bullion Sales in 2023
Published United States Mint bullion sales have not since Feb. 7. 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) | ||||
|---|---|---|---|---|
| January Sales | Last Week | February | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 118,000 | 0 | 9,000 | 127,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 37,000 | 0 | 1,000 | 38,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 62,000 | 0 | 2,000 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 115,000 | 0 | 65,000 | 180,000 |
| $50 American Buffalo 1 Oz Gold Coin | 59,000 | 0 | 5,000 | 64,000 |
| $1 American Eagle 1 Oz Silver Coin | 3,949,000 | 0 | 450,000 | 4,399,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 |
Sir Kaiser, your attention to the price comparisons between Gold and Palladium over the past year is noteworthy. Palladium has fallen considerably over the last year: on the day of the Ukraine invasion, February 24, 2022, Palladium’s spot price was $2,533 per ounce; it then spiked to $3,104 on March 8, 2022; and today (February 22, 2023) it is currently down to $1,424 at the time of this posting. Consequently, the Mint’s price for the American Eagle 2022 One Ounce Palladium Reverse Proof Coin this week is $2,500, down from it’s initial price of $3,050 (and the price of $3,150… Read more »
Update on the current Mint price of the American Eagle 2022 One Ounce Palladium Reverse Proof Coin: the price dropped $100 this afternoon (2/22/23) to $2,400 with 696 coins still available (at 5pm ET).