In futures trading Wednesday, palladium declined while gold, silver and platinum advanced. Increases in gold and silver were their fourth in a row, with ending near a two-week high.
Gold for February delivery settled up $8.80, or 0.5%, to $1,827.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Dec. 31.
“The precious metals are boosted at mid-week by positive daily outside markets that include solidly higher crude oil prices that are near last fall’s seven-year high, a lower U.S. dollar index that hit a two-month low today, and a slight drop in U.S. Treasury yields,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"The U.S. data point of the week was Wednesday morning’s consumer price index report for December, which came in at up 7.0%, year-on-year."
The Labor Department reported Wednesday that consumer prices increased 0.5% in December from 0.8% in November. Annual inflation at 7% was the highest since June 1982.
Gold futures ranged from a low of $1,814.40 to a high of $1,828. They rose 1.1% on Tuesday and they edged 0.08% higher on Monday.
Silver for March delivery gained 39.5 cents, or 1.7%, to settle at $23.207 an ounce. Like for gold, silver’s finish was its highest since Dec. 31. Silver futures traded between $22.68 and $23.26. They gained 1.6% on Tuesday and they inched up 0.2% on Monday.
In PGM futures on Wednesday:
April platinum rose $6.90, or 0.7%, to $980.10 an ounce, ranging from $961.50 to $983, after soaring 4.2% on Tuesday.
- Palladium for March delivery declined $6.30, or 0.3%, to $1,915.80 an ounce, trading between $1,895.50 and $1,948.50, after rising 0.7% on Tuesday.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged Wednesday. 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)|
|Wednesday||Last Week||This Week||December||2021 Sales||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||73,500||14,000||41,000||1,115,500||87,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||26,000||18,000||1,000||95,000||44,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||38,000||14,000||2,000||162,000||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||115,000||35,000||0||490,000||150,000|
|$50 American Buffalo 1 Oz Gold Coin||0||35,000||7,000||10,500||350,500||42,000|
|$1 American Eagle 1 Oz Silver Coin||0||3,001,000||500,000||0||28,275,000||3,501,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||75,000||0|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||8,700||0|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||52,900||0|