Palladium registered a new, near five-month high on Thursday. Gold, silver and platinum, meanwhile, tumbled. Gold finished at a three-week low.
Gold for February delivery fell $36.60, or 2%, to settle at $1,793.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s weakest since Jan. 6.
"The precious metals [gold and silver] are getting hammered following a more-hawkish-than-expected Federal Reserve meeting and some upbeat U.S. economic data — both of which have helped push the U.S. dollar index to a 1.5-year high today,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,790.60 to a high of $1,821.40. They lost 1.2% on Wednesday and they tacked on 0.6% on Tuesday to mark their best settlement since Nov. 18. Gold prices rose 0.5% on Monday.
Silver for March delivery sank $1.13, or 4.8%, to settle at $22.676 an ounce. The close was silver’s lowest since Jan. 10. Silver futures traded between $22.58 and $23.63. They shed 0.4% on Wednesday, they gained 0.4% on Tuesday, and they lost 2.1% on Monday.
In other precious metals futures prices on Thursday:
April platinum declined $24.10, or 2.3%, to $1,021.80 an ounce, ranging from $1,012.40 to $1,039.30.
- Palladium for March delivery advanced $15.90, or 0.7%, to $2,366.50 an ounce, trading between $2,237 and $2,390. The settlement was the highest since Sept. 3 when palladium ended at $2,416.30 an ounce.
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||0||22,500||41,000||1,115,500||110,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||1,000||95,000||45,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||10,000||2,000||162,000||62,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||30,000||0||490,000||180,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||11,000||10,500||350,500||53,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||1,000,000||0||28,275,000||4,501,000|
|$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|