Gold Dips as Silver Logs New 2-Month High on Thursday, Jan. 20

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Gold retreated modestly Thursday, dipping from a two-month high, while silver, platinum and palladium surged. Silver scored its best finish since Nov. 19.

Gold for February delivery shed 60 cents, or 0.03%, to settle at $1,842.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is finally finding its footing, largely due to the inflationary environment we find ourselves in, combined with the recent weakness in the U.S. dollar," MarketWatch quoted Adam Koos, president at Libertas Wealth Management Group. "While rising Treasury yields will surely continue to put a ceiling above price, that doesn’t change the fact that there is a clear and distinct increase in relative strength not seen since the late-spring 2021 price spike."

Gold futures traded between $1,836.20 and $1,848.50. They gained 1.7% on Wednesday, marking their best finish since Nov. 19, and they lost 0.2% in the start to the trading week on Tuesday.

Silver for March delivery ended up 48.5 cents, or 2%, to $24.716 an ounce. The settlement was the highest since silver ended Nov. 19 at $24.781 an ounce. Silver futures ranged from a low of $24.12 to a high of $24.76. They rallied 3.2% on Wednesday and they gained 2.5% on Tuesday.

In other precious metals futures prices on Thursday:

  • April platinum rose $22.40, or 2.2%, to $1,050.80 an ounce, trading between $1,017.50 and $1,057.50.

  • Palladium for March delivery advanced $65.30, or 3.3%, to $2,073.70 an ounce, ranging from $1,973 to $2,085.50.

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 / This Week Last Week December 2021 Sales 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 14,000 41,000 1,115,500 87,500
$25 American Eagle 1/2 Oz Gold Coin 0 18,000 1,000 95,000 44,000
$10 American Eagle 1/4 Oz Gold Coin 0 14,000 2,000 162,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 35,000 0 490,000 150,000
$50 American Buffalo 1 Oz Gold Coin 0 7,000 10,500 350,500 42,000
$1 American Eagle 1 Oz Silver Coin 0 500,000 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

 

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