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

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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!