Gold Ends at 1-Week High; Palladium Marks Fifth Gain

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Precious metals closed higher Tuesday, logging gains ranging from less than 0.1% for palladium to 1.5% for platinum. Palladium’s increase was its fifth in a row.

Gold for February delivery rose $5.20, or 0.3%, to settle at $1,784.70 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Nov. 29.

"A strong rally in raw commodity sector leader crude oil so far this week is keeping a floor under the metals markets. However, the safe-haven metals’ gains are being limited as trader/investor risk appetite has significantly improved this week," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,772.40 to a high of $1,785.50. They shed 0.3% on Monday.

Silver for March delivery added 26 cents, or 1.2%, to settle at $22.523 an ounce. Silver futures traded between $22.23 and $22.48. They lost 1% on Monday, marking their lowest finish since Sept. 30.

In other precious metals futures Tuesday:

  • January platinum gained $13.60 to $950 an ounce, ranging from $931.50 and $956.

  • Palladium for March delivery climbed $1.40, or 0.08%, to $1,847 an ounce, trading between $1,825 and $1,884.50.

US Mint Bullion Sales in 2021

Published 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.

US Mint Bullion Sales (# of coins)
Tuesday This Week October November December 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 18,500 135,500 125,500 20,500 1,095,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 7,000 6,000 2,000 96,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 22,000 10,000 0 160,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 85,000 40,000 0 490,000
$50 American Buffalo 1 Oz Gold Coin 0 7,000 41,000 39,500 8,000 348,000
$1 American Eagle 1 Oz Silver Coin 0 0 1,076,000 1,523,500 0 28,275,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 75,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 8,700 0 8,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900

 

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Kaiser Wilhelm

Palladium futures prices have once again jumped ahead of gold futures. On the spot market, however, the two precious metals are still more or less running neck and neck.

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Last edited 1 month ago by Kaiser Wilhelm