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|