Precious metals split in their start to the new trading day on Monday with gold and silver rising and platinum and palladium falling.
Gold for February delivery climbed $1.40, or 0.08%, to settle at $1,798.80 an ounce on the Comex division of the New York Mercantile Exchange.
“Technically, February gold futures bulls and bears are on a level overall near-term technical playing field amid recent choppy trading. Bulls’ next upside price objective is to produce a close above solid resistance at the January high of $1,833.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the December low of $1,753.00,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,789.30 to a high of $1,802. They declined 1.7% last week.
Silver for March delivery rose 5.3 cents, or 0.2%, to settle at $22.462 an ounce. Silver futures traded between $22.20 and $22.54. They dropped 4% last week.
In other precious metals prices on Monday:
April platinum gave back $22.90, or 2.4%, to $933.60 an ounce, ranging from $919.50 to $961.40.
- Palladium for March delivery declined $12.40, or 0.7%, to $1,909.20 an ounce, trading between $1,886.50 and $1,964.
Last week platinum lost 1% while palladium rose 0.5%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased Monday by 500,000 ounces in silver coins and a combined 37,000 ounces in gold coins.
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)|
|Monday||Last Week||December||2021 Sales||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||14,000||73,500||41,000||1,115,500||87,500|
|$25 American Eagle 1/2 Oz Gold Coin||18,000||26,000||1,000||95,000||44,000|
|$10 American Eagle 1/4 Oz Gold Coin||14,000||38,000||2,000||162,000||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||35,000||115,000||0||490,000||150,000|
|$50 American Buffalo 1 Oz Gold Coin||7,000||35,000||10,500||350,500||42,000|
|$1 American Eagle 1 Oz Silver Coin||500,000||3,001,000||0||28,275,000||3,501,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||75,000||0|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||8,700||0|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||52,900||0|