Palladium gained on Thursday while gold, silver and platinum declined. Gold ended the day at a seven-week low.
Gold for February delivery fell $21.60, 1.2%, to settle at $1,762.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Oct. 12 when gold ended at $1,759.30 an ounce.
"The near-term chart posture for the gold market is deteriorating now, and that has invited some technical-based sellers into the market. Also, weak-handed longs in the gold futures markets are being forced to liquidate their positions amid the recent sell off. A slumping crude oil market this week is also a negative for the metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,762.20 to a high of $1,785.20.
Silver for March delivery settled down 2.3 cents, or 0.1%, to $22.316 an ounce. The settlement was the lowest since Sept. 30 when silver closed at $22.047 an ounce. Silver futures traded between $22.21 and $22.51.
In other precious metals prices on Thursday:
January platinum declined $2.10, or 0.2%, to $933.10 an ounce, ranging from $926.90 to $947.
- Palladium for March delivery tacked on $17.90, or 1%, to $1,771.40 an ounce, trading between $1,705 and $1,780.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales were unchanged Thursday. 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)|
|Thursday||Last Week||This Week||October||November||December||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||24,000||21,500||135,500||116,500||2,000||1,067,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||7,000||6,000||0||94,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||2,000||22,000||10,000||0||160,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||5,000||85,000||40,000||0||490,000|
|$50 American Buffalo 1 Oz Gold Coin||0||8,500||5,500||41,000||39,500||1,000||341,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||448,000||1,076,000||1,447,000||0||28,198,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||0||75,000|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||8,700||0||8,700|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||0||0||52,900|