Palladium Rises Tuesday, Dec. 22, As Other Metals Decline

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Five gold bullion bars
Gold futures declined slightly Tuesday, Dec. 22
Five gold bullion bars
Gold futures declined slightly Tuesday, Dec. 22

Palladium gained Tuesday while other precious metals declined. Gold and platinum each lost 0.7%. Silver sank 3.2% after posting a more than three-month high on Monday.

Gold for February delivery fell $12.50 to settle at $1,870.30 an ounce on the Comex division of the New York Mercantile Exchange.

Gold and silver were "pressured by profit taking from recent gains by the shorter-term futures traders. Also, the key outside markets are bearish for the metals on this day — higher U.S. dollar index and lower crude oil prices. Also, global stock markets have somewhat stabilized Tuesday after hitting some fresh Covid turbulence on Monday — somewhat reducing risk aversion," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,864.60 to a high of $1,889.40. They gave back 0.3% on Monday.

Silver for March delivery tumbled 84.4 cents to settle at $25.535 an ounce.  Silver futures traded between $25.28 and $26.82. They advanced 1.3% on Monday, marking their best settlement since Sept. 18.

In other precious metals futures Tuesday:

  • January platinum lost $6.70 to $1,009.40 an ounce, ranging from $989.70 to $1,023.40.

  • Palladium for March delivery gained $6.70, or 0.3%, to $2,323.10 an ounce, trading between $2,307.50 and $2,356.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold edged up 25 cents, or 0.01%, to $1,880 an ounce.
  • Silver added 34 cents, or 1.3%, to $26.155 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday / This Week Last Week October November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 12,000 64,500 77,000 42,500 741,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 6,000 4,000 0 68,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 8,000 10,000 0 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 19,500 23,500 8,500 240,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,397,000 4,805,000 751,000 30,089,500
America Samoa 5 oz Silver Coin* 0 0 0 0 0 45,000
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 45,000
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 45,000
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 45,000
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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Steve B.

WOW!

I wish I’d bought palladium when it was down a few months back!