Gold and Silver Mark More Than Two-Month Lows

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Precious metals tumbled Monday, registering losses ranging from 2% for gold to 10.7% for palladium. Drops in gold, silver and platinum were their fifth in a row. Gold and silver also ended the day at more than two-month lows.

Gold for June delivery fell $38.30 to settle at $1,896 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Feb 25.

"The entire raw commodity sector was hit hard today by concerns regarding demand as Covid cases in China, the world’s second-largest economy, are spreading rapidly. Serious near-term technical damage was inflicted in gold and silver today, which has emboldened the chart-based bears," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,891.80 and $1,935.50. They lost 2.1% last week.

Silver for May delivery declined 58.9 cents, or 2.4%, to end at $23.67 an ounce. The settlement was the lowest since Feb. 16. Silver futures ranged from $23.42 to $24.24. They dropped 5.6% last week.

In other precious metals prices on Monday:

  • July platinum gave back $22.40, or 2.4%, to $905 an ounce, trading between $901.40 and $927.90.

  • Palladium for June delivery plummeted $254.20 to $2,122.10 an ounce, ranging from $2,058.50 to $2,363.50.

Last week, platinum sank 6.7% while palladium edged 0.8% higher.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Monday. 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)
Monday Last Week February March April 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 39,500 86,000 140,500 61,000 411,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 0 5,000 3,000 53,000
$10 American Eagle 1/4 Oz Gold Coin 0 8,000 4,000 20,000 14,000 102,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 75,000 25,000 320,000
$50 American Buffalo 1 Oz Gold Coin 0 10,000 28,500 64,500 17,000 171,500
$1 American Eagle 1 Oz Silver Coin 0 408,000 1,500,000 1,080,500 833,000 8,414,500
$100 American Eagle 1 Oz Platinum Coin 0 0 25,800 14,200 0 40,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0

 

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SENZA

Might as well throw that shiny stuff in the trash with DogeCrap and BitCon

Last edited 1 month ago by SENZA
Rich

What a battering!

SENZA

This is one of my earliest Battered coins

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Rich

SENZA, You are Number One! Sir Kaiser is manufacturing an awesome Award to bestow upon you at his Kiss This Guy Foundry and Factory Outlet.

SENZA

Yikes!

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Antonio

I didn’t buy enough gold and silver last week and this is the result. LoL.

SENZA

One must diversify

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Antonio

Yes! Some is a good bottle of rum. 😉

Rich

Very appetizing, Sir Kaiser!

Rich

,,,

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SENZA

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SENZA

Well, it looks like the US Mint Enrollment establishment has failed me again – I guess I’ll just have to crawl out of bed by noon tomorrow and see what kind of rigged, unprofessional coin drudgery the US Mint will be oozing out tomorrow.

I’m sure there is no need to worry https://www.youtube.com/watch?v=27xTF3kGzbY

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Last edited 1 month ago by SENZA