Gold Ends at 3-Week Low; Palladium Scores Near 5-Month High

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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

 

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Antonio

My precious.