Gold, Silver and Platinum Log First Losses in Four Sessions

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Precious metals declined on Thursday, posting losses ranging from 0.3% for gold to 2.2% for palladium. Drops in gold, silver and platinum were their first in four sessions.

Gold for April delivery shed $6.20 to settle at $1,804.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Rising U.S. Treasury yields on this day are a bearish element for the safe-haven metals, which pay no dividend. This week’s big rebound in the U.S. stock indexes is also an underlying negative for the precious metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,788.50 and $1,809.50. They gained 0.5% on Wednesday, for the best close since Jan. 26, they climbed 0.3% on Tuesday, and they rose 0.6% on Monday.

Silver for March delivery fell 33.2 cents, or 1.5%, to settle at $22.375 an ounce. Silver futures ranged from $21.98 to $22.66. Like for gold, silver prices on Wednesday added 0.5% and claimed their highest settlement since Jan. 26. The metal rose 0.9% on Tuesday and increased 0.4% on Monday.

In other precious metals futures Thursday:

  • April platinum lost $13.40, or 1.3%, to $1,030.30 an ounce, trading between $1,020.80 and $1,041.50.

  • Palladium for March delivery declined $51.80 to $2,317.70 an ounce, ranging from $2,278 to $2,393. On Friday, palladium at $2,375.30 an ounce logged its highest settlement since Sept. 3.

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 January 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 22,500 13,500 41,000 123,500 123,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 1,000 45,000 45,000
$10 American Eagle 1/4 Oz Gold Coin 0 10,000 2,000 2,000 64,000 64,000
$5 American Eagle 1/10 Oz Gold Coin 0 30,000 15,000 0 195,000 195,000
$50 American Buffalo 1 Oz Gold Coin 0 11,000 8,500 10,500 61,500 61,500
$1 American Eagle 1 Oz Silver Coin 0 1,000,000 500,000 0 5,001,000 5,001,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 0
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 0

 

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