On Tuesday, gold, silver, and platinum prices increased, while palladium declined. Both gold and silver reached nearly three-week highs.
Gold for June delivery settled at $2,023.30 an ounce on the Comex division of the New York Mercantile Exchange, after advancing by $31.10, or 1.6%. This marked the highest settlement since April 13.
"Gold and silver prices are solidly higher on safe-haven buying interest as trader and investor risk aversion has quickly up-ticked amid a sharp drop in U.S. banking stocks today. U.S. Treasury yields have also dropped on flight-to-quality buying amid the higher anxiety in the marketplace," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,986.90 and $2,028.80, after shedding 0.4% on Monday to finish at their lowest price since April 21.
Silver for July delivery closed at $25.619 an ounce, after gaining 38.9 cents, or 1.5%. Like gold, this marked the highest settlement since April 13. Silver futures fluctuated between $24.82 and $25.77, after a slight increase of 0.02% on Monday.
In other precious metals prices on Tuesday:
-
July platinum rose by $13.60, or 1.3%, to reach $1,078.30 an ounce, trading between $1,052.70 and $1,079.70.
- Palladium for June delivery declined by $25.80, or 1.8%, to $1,421 an ounce after falling 4.2% on Monday. It ranged from $1,416 to $1,460.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales were unchanged on Tuesday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Tuesday / Week | Last Week | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 37,000 | 41,500 | 211,000 | 159,000 | 529,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 12,000 | 10,000 | 12,000 | 96,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 35,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,000 | 19,500 | 73,000 | 61,000 | 212,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 900,000 | 900,000 | 900,000 | 6,649,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 7,500 | 500 | 8,000 |
In other news, snoop has been high at least 3 weeks
That’s horrible. Sounds like all those people had their catalytic converters stolen for nothing. Amazing so much polluting to extract gold from the ground. Then to break up the rock its in. Then melt down the gold. Try to separate the impurities. Ship again to refinery. So purer bars or rounds, or into chain for jewelry. Then turned into a finished product like coin or jewelry or stays in bar form. Only to be stored and locked away most of the time. All these tons of gold just sitting in vaults, or inside a mountain, or in safes (not Knox)… Read more »
I wonder if trump would allow his image on a silver medal. Seems to me he would only allow for his image to be on gold. But not up to him.