Gold and Silver Post First Losses in Six Sessions

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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

 

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Major D

Is anyone day trading this stuff? Let me write the next hundred articles right now- it goes up, it goes down, on and on………

Rich

Wow, Sir Kaiser, that Award is Supercalifragilisticexpialidocious!

Major D

That award sure looks golden! Is it an NFT? How many troy oz is that? I want to see whether it’s up or down now on Coinflation.

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Rich

Congrats Sir Kaiser, First On Thread Award is well deserved. SENZA will be around shortly to present one of his recently manufactured magnificent awards.