Gold and Silver Fall Slightly on Tuesday, April 5

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Precious metals logged losses on Tuesday that ranged from 0.2% for silver to 1.8% for both platinum and palladium. Silver’s fall was its third in a row.

Gold for June delivery shed $6.50, or 0.3%, to settle at $1,927.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Comments from Federal Reserve governor Lael Brainard Tuesday morning that were more hawkish than expected spiked U.S. Treasury yields higher today, which also worked to pressure the precious metals markets. Brainerd said at a virtual conference, ‘it is of paramount importance to get inflation down’. Brainerd also said the Fed will do a series of interest rate hikes this year, which was not unexpected by the marketplace" Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,920.90 and $1,948.90. They edged 0.5% higher on Monday.

Silver for May delivery declined 5.6 cents to end at $24.534 an ounce. The close was the lowest since Feb. 28 when silver settled at $24.366 an ounce. Silver prices ranged from $24.42 to $25.11. They dipped 0.3% on Monday.

In other precious metals prices Tuesday:

  • July platinum lost $17.90 to $973.10 an ounce, trading between $969.30 and $992.40.

  • Palladium for June delivery fell $39.70 to $2,235.30 an ounce, ranging from $2,226.50 to $2,319.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales increased on Tuesday, and for the first time this month, by 425,000 ounces in silver coins and a combined 33,000 ounces in gold coins.

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)
Tuesday / This Week / April Last Week January February March 2022 Sales
$50 American Eagle 1 Oz Gold Coin 21,500 19,000 123,500 86,000 140,500 371,500
$25 American Eagle 1/2 Oz Gold Coin 1,000 1,000 45,000 0 5,000 51,000
$10 American Eagle 1/4 Oz Gold Coin 6,000 2,000 64,000 4,000 20,000 94,000
$5 American Eagle 1/10 Oz Gold Coin 25,000 5,000 195,000 25,000 75,000 320,000
$50 American Buffalo 1 Oz Gold Coin 7,000 11,000 61,500 28,500 64,500 161,500
$1 American Eagle 1 Oz Silver Coin 425,000 0 5,001,000 1,500,000 1,080,500 8,006,500
$100 American Eagle 1 Oz Platinum Coin 0 0 N/A 25,800 14,200 40,000
$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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Antonio

It’s the speculators who make the prices rise or fall. I’m just sitting on mine until I retire and sell it off a little at a time to make sure I have money to live on comfortably. Ah, first world problems.

SENZA

Sounds like a Bad Moon Rising and that ain’t a good sign for Gold but a little Silver might come in handy https://www.youtube.com/watch?v=Qrq0NGC5qnA

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Rich

There is stopping the dynamic duo, Antonio and Sir Kaiser, today from achieving “First on Thread” with break-neck speed and a smooth role reversal. As Ron Simmons and SENZA like to say, DAMN!

SENZA

These threads are like the twilight zone – everywhere I go Kaiser has been there already https://www.youtube.com/watch?v=TKktECKDgIs

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