Gold Marks Six Loss in Seven Sessions

7

Palladium gained on Wednesday while gold, silver and platinum declined. Silver’s loss was its seventh straight. Gold and platinum, meanwhile, have dropped in six of the last seven sessions, with their most recent advance on Tuesday.

Gold for June delivery declined $15.40, or 0.8%, to finish at $1,888.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Feb. 25.

"With interest rate hikes all but guaranteed by the U.S. central bank in May and June and highly likely in July too, gold’s lack of yield has seen it fall out of favor by investors," said Rupert Rowling, market analyst at Kinesis Money, in a note reported by MarketWatch.

"That said, $1,900 remains a very high level for gold historically and given the fragile state of markets currently, it wouldn’t take much for renewed fear trading to push its price upward once again," he wrote.

Gold futures traded between $1,881.60 and $1,908.10. The rose 0.4% on Tuesday and they fell 2% on Monday.

Silver for July delivery — the new, most-active contract — fell 8.5 cents, or 0.4%, to settle at $23.505 an ounce. The settlement was the lowest since Feb. 15. Silver futures ranged from $23.32 to $23.81. They shed 0.5% on Tuesday and they dropped 2.4% on Monday.

In PGM futures on Wednesday:

  • July platinum gave back $1.70, or 0.2%, to $910.40 an ounce, trading between $895.40 and $930.

  • Palladium for June delivery added $16.60, or 0.8%, to $2,195.10 an ounce, ranging from $2,146.50 to $2,248.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales increased on Wednesday, and for the first time this week, by 17,000 ounces in silver coins and a combined 29,500 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)
Wednesday / This Week Last Week February March April 2022 Sales
$50 American Eagle 1 Oz Gold Coin 19,500 39,500 86,000 140,500 80,500 430,500
$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 10,000 10,000 28,500 64,500 27,000 181,500
$1 American Eagle 1 Oz Silver Coin 17,000 408,000 1,500,000 1,080,500 850,000 8,431,500
$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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Rich

Gold and Silver, Shot down in a blaze of glory (again).

BTW, today is the expected shipping date for the Negro Leagues Baseball 100 Privy Proof Silver Dollar; Has anyone received an email shipping notice from the Mint yet?

SENZA

Rich,

I didn’t order any of those coins but it doesn’t mean the factory doesn’t make their Awards

Your faster than a greasy Krabby Patty today and you landed First on Thread for which your granted the keys to Centerfield https://www.youtube.com/watch?v=Xq3hEMUeBGQ

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Last edited 1 month ago by SENZA
Rich

Thanks, SENZA! You’re the best!

Antonio

It’s like the bouncing ball. I always think of the long term, not the short term. It’ll drive you mad if you do. So my investments are for the long term, or at least the 2030s, for me.
I hope you enjoy your Negro Leagues Baseball silver dollar with privy mark. I think privy marks are the “thing” now, although they’ve been around for some time.

SENZA

That’s a Privy interesting take on long-term investing Antonio, I’m sure your wealth will continue to grow steadily

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Rich

Antonio, I like your way of thinking, and your long term timing is looking good since the longer upward trend in gold and silver should continue into the 2030s. Knowing when to sell an asset is just, if not more important than knowing when to buy.

SENZA

Happy Belated Birthday unless I was there and I just forgot because I’m forgetful https://www.youtube.com/watch?v=Cs5vUfddkT8

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