Precious Metals Dip on Thursday, Jan. 13

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Precious metals finished lower Thursday, led by a 1.4% drop in palladium. Losses for gold and silver were their first in five sessions. Both finished Wednesday near a two-week high.

Gold for February delivery shed $5.90, or 0.3%, to settle at $1,821.40 an ounce on the Comex division of the New York Mercantile Exchange.

“Gold and silver futures prices are weaker in midday U.S. trading Thursday, on some profit-taking pressure from the shorter-term futures traders following recent gains. The precious metals had been supported this week by friendly daily outside markets that included higher crude oil prices, a weaker U.S. dollar index and a slight drop in U.S. Treasury yields,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,811.80 to a high of $1,828.30. They gained 0.5% on Wednesday, reaching their highest settlement since Dec. 31, they rose 1.1% on Tuesday, and they edged 0.08% higher on Monday.

Silver for March delivery lost 4.5 cents, or 0.2%, to end at $23.162 an ounce. Silver futures traded between $23.03 and $23.32. They advanced 1.7% on Wednesday, for their best finish since Dec. 31, they gained 1.6% on Tuesday, and they inched up 0.2% on Monday.

In other precious metals futures prices on Thursday:

  • April platinum declined $7.90, or 0.8%, to $972.20 an ounce, ranging from $961.30 to $977.70.

  • Palladium for March delivery fell $25.80 to $1,890 an ounce, trading between $1,861 and $1,919.

US Mint Bullion Sales in 2022

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 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

 

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