Precious metals declined on Thursday, led by palladium’s 3.6% fall. Gold and silver, meanwhile, posted 8- and 12-week settlement lows.
Gold for April delivery lost $14.70, or 0.8%, to end at $1,826.80 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s lowest since it ended at $1,826.20 ounce on Dec. 30.
"Bearish for metals are more signals late this week the U.S. Federal Reserve will keep interest rates higher for longer. That has negative demand implications for the metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,824.80 and $1,841.20. They shed 0.05% on Wednesday and they slipped 0.4% in their start to the trading week on Tuesday.
Silver for March delivery declined 37.1 cents, or 1.7%, to end at $21.306 an ounce. The finish was silver’s weakest since it closed at $21.125 an ounce on Nov. 28. Silver futures ranged from $21.26 to $21.67. They fell 1% on Wednesday and they rose 0.8% on Tuesday.
In other precious metals prices on Thursday:
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April platinum gave back $7.80, or 0.8%, to $945.50 an ounce, trading between $940.80 and $963.60.
- Palladium for March delivery dropped $53.60 to $1,428.60 an ounce, ranging from $1,423.50 to $1,492.50.
US Mint Bullion Sales in 2023
Published United States Mint bullion sales have not changed 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 |
