Precious metals divided on Thursday with platinum and palladium rising and gold and silver falling. Losses for gold and silver were their first in six sessions and follow one-month settlement highs.
Gold for June delivery shed $9.80, or 0.5%, to settle at $1,974.90 an ounce on the Comex division of the New York Mercantile Exchange.
Gold and silver declined "on downside corrections following recent good gains. A higher U.S. dollar index that hit a two-year high and rising U.S. Treasury yields that this week hit three-year highs are bearish elements that worked against the precious metals market bulls on this day," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,962.70 and $1,984. They rose 0.4% on Wednesday, for their highest settlement since March 11, they climbed 1.4% on Tuesday, and they edged 0.1% higher on Monday. For the week, gold prices advanced 1.5%.
Silver for May delivery lost 33 cents, or 1.3%, to close at $25.70 an ounce. Silver futures ranged from $25.46 to $26.12. They gained 1.2% on Wednesday, also for their best settlement since March 11, they surged 3% on Tuesday, and they rose 0.7% on Monday. For the week, silver prices soared 3.5%.
In other precious metals prices on Thursday and for the week:
July platinum added $4.60, or 0.5%, to $994.20 an ounce, trading between $972.20 and $996. It gained 1.9% on the week.
- Palladium for June delivery rose $15.90, or 0.7%, to $2,355.40 an ounce, ranging from $2,308 and $2,381.50. It dropped 2.7% on the week.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Thursday and for the week. 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||January||February||March||April||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||21,500||123,500||86,000||140,500||21,500||371,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||45,000||0||5,000||1,000||51,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||6,000||64,000||4,000||20,000||6,000||94,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||25,000||195,000||25,000||75,000||25,000||320,000|
|$50 American Buffalo 1 Oz Gold Coin||0||7,000||61,500||28,500||64,500||7,000||161,500|
|$1 American Eagle 1 Oz Silver Coin||0||425,000||5,001,000||1,500,000||1,080,500||425,000||8,006,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||N/A||25,800||14,200||0||40,000|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||0||0||0|