Gold Posts First Gain in Six Sessions, Bouncing Atop $1,900

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In futures trading Tuesday, silver declined while gold, platinum and palladium advanced. Gains in gold and platinum were their first in six sessions. Gold also bounced above $1,900 an ounce and from a more than two-month low.

Gold for June delivery rose $8.10, or 0.4%, to settle at $1,904.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are a modestly higher in midday U.S. Trading Tuesday and are trading back above $1,900.00 as the bulls are trying to stop the bleeding after the recent downdraft that saw the market hit a nine-week low Monday. Short covering in the futures market and some perceived bargain hunting in the cash market were featured," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,896.30 and $1,912.20. They fell 2% on Monday, for their lowest settlement since Feb. 25.

Extending its losing streak to six sessions, silver for May delivery lost 12.6 cents, or 0.5%, to close at $23.544 an ounce. The settlement was the lowest since Feb. 15. Silver futures ranged from $23.44 to $23.98. They dropped 2.4% on Monday.

In other precious metals futures prices on Tuesday:

  • July platinum added $7.10, or 0.8%, to $912.10 an ounce, trading between $901.70 and $921.50.

  • Palladium for June delivery added $56.40, or 2.7%, to $2,178.50 an ounce, ranging from $2,122 to $2,243.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Tuesday. 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 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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Antonio

I can’t help thinking, my purchases made a difference.

SENZA

Congrats Anthony the First on Thread Superstar may there be many golden dollars in your future

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Antonio

Yes, at $1900 each, that’s a nice haul. 🙂

Rich

Its no longer FOMO, but FIRH (Fear of Interest Rate Hikes).

SENZA

Where are those Krabby Patties Bro

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Rich

“Barnacles!” Bro

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SENZA

I’m lookin’ high and low https://www.youtube.com/watch?v=_TDgWBPaecQ

SENZA
SENZA

Your doing OK too Kaiser – Anybody seen my Denver Rolls https://www.youtube.com/watch?v=TLV4_xaYynY

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SENZA

Hey Rich, Krabby Patties sound delicious but could I get some more cow bell pleez https://www.youtube.com/watch?v=cVsQLlk-T0s

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Rich

Gotta have more cowbell, is this what you had in mind?

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SENZA

That’s Dino-mite

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SENZA

It goes without saying – we are all very grateful around here

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Rich

That’s Cherry!

SENZA

Oh Yeah

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Rich

Sir Kaiser, wishing you many more good days. Stay well! BTW, Farmer Tans and Hot Nuts just go together.

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SENZA

I bet they would be a Hot item at the Ball of Fire

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Rich

Remember Deez Nuts, Sir Kaiser?

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SENZA

Alert there is a new Thread available good luck and may the best numismatist arrive first

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Rich

SENZA, with all your hits, you should be on First!

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SENZA

I’m trying so hard – I just can’t take my eyes off the ball

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SENZA

Have you ever walked on a cloud, found a message in a bottle or listened to Eminence Front with Headphones on https://www.youtube.com/watch?v=BfrUQA2tb6M

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