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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Kaiser Wilhelm

Palladium and gold are still running fairly even, platinum is valued at half of either, and silver remains pretty much an afterthought. All’s well in the world of precious metals.