Gold Edges Higher; Silver Logs 8th Loss

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Silver declined on Thursday while gold, platinum and palladium registered modest gains. Silver’s loss was its eighth in a row. The precious metal also ended at a more than 11-week low.

Gold for June delivery rose $2.60, or 0.1%, to settle at $1,891.30 an ounce on the Comex division of the New York Mercantile Exchange.

“With the Fed seen hiking interest rate by 50 basis points and possibly 75 basis points in the next two meetings after the May 4, the dollar is going to remain in demand … It’s very difficult to be bullish on gold at the moment,” Reuters quoted Fawad Razaqzada, market analyst at City Index.

Gold futures traded between $1,870.90 and $1,896.20. The declined 0.8% on Wednesday, for their weakest settlement since Feb. 25, they rose 0.4% on Tuesday, and they fell 2% on Monday.

Silver for July delivery fell 32.40 cents, or 1.4%, to settle at $23.181 an ounce. The settlement was the lowest since Feb. 7. Silver futures ranged from $22.94 to $23.46. They slipped 0.4% on Wednesday, they shed 0.5% on Tuesday, and they dropped 2.4% on Monday.

In other precious metals futures prices on Thursday:

  • July platinum inched up 70 cents, or 0.08%, to $911.10 an ounce, trading between $900.50 and $927.30.

  • Palladium for June delivery added $15, or 0.7%, to $2,210.10 an ounce, ranging from $2,203 to $2,285.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Thursday. 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 Last Week This Week February March April 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 39,500 19,500 86,000 140,500 80,500 430,500
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 0 0 5,000 3,000 53,000
$10 American Eagle 1/4 Oz Gold Coin 0 8,000 0 4,000 20,000 14,000 102,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 25,000 75,000 25,000 320,000
$50 American Buffalo 1 Oz Gold Coin 0 10,000 10,000 28,500 64,500 27,000 181,500
$1 American Eagle 1 Oz Silver Coin 0 408,000 17,000 1,500,000 1,080,500 850,000 8,431,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 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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Antonio

And again, gold goes up, gold goes down. Silver goes up, silver goes down. It’s like a yoyo. I only know, I enjoy my silver and gold coins. The value will be what it is.

Rich

Like life, it has its ups and downs. Look at the big picture and follow the long term trends. Oops, you did it again…

Antonio

I look at it this way, how much silver is in your safety deposit box?

SENZA

The problem is that no matter how much we talk about it we are addicted to the dollar and fail to use the shiny stuff https://www.youtube.com/watch?v=-0kcet4aPpQ

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SENZA

Unfortunately, I don’t think you have anything to worry about 🙁

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Antonio

Send that man some gold foil chocolates!

SENZA
SENZA

Agreed

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Antonio

Stop the presses! Gold is above $1900 and silver is at $23.10!

Rich

Sir Kaiser, Silver was barely holding above $23, but got monkey hammered in the last hour of trading and closed at $22.70 spot.

SENZA

🙂

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SENZA

Great image – I can feel the joy – everyone’s a winner today

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SENZA

🙂

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Rich

SENZA, you’re a Pro, Bro

SENZA

Antonio 2020 was the Golden year for selling that stuff from outer space – right now is the best time to just admire what you have – and that’s another FIRST ON THREAD victory P.S. Turn this S__ Up Loud https://www.youtube.com/watch?v=ApHM1ct4tdM

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Antonio

I’m an old man, I have to turn EVERYTHING Up Loud just to hear it.

Last edited 29 days ago by Antonio
Rich

I hear that!

SENZA

Your not alone Antonio, I can’t even hear the voices in my head anymore

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SENZA

It must be nice to have close friends

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Antonio

I have tinnitus, all I hear is ringing.

SENZA

I have that annoying issue too – I even asked a doctor about it and he dodged the question.

I have read that it’s a major side or after effect of the COVID but have no idea how credible that information is.

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Antonio

I’ve had it for years, long before COVID. I noticed it when I was in the Army but I may have had it before and my service only aggravated it.

Rich

Especially for Heavy Metal Maniacs

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SENZA

True Rich,

All those loud nights at the Nudie Bar I was bound to catch something

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Last edited 28 days ago by SENZA
Rich

“I see” said the blind man to the deaf man

SENZA

🙂

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SENZA

It’s up to you Sir Kaiser and Rich,

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SENZA

One man’s treasure

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Antonio

I had a higher mass this morning. I was sure to flush it down.

SENZA

Always flush twice –

Rich

As Erma Bombeck noted, “The Grass Is Always Greener over the Septic Tank”

SENZA

I think it’s time to boldly go where https://www.youtube.com/watch?v=l-tAyQAS6JY

Antonio

For fear of offending anyone, I’m an egalitarian, we’re all No. 1. 🙂

Antonio

Russia could learn from that.

SENZA

🙂

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SENZA

Thank you Sir Kaiser,

Meme’s are proof of alternate universes –

if you go to Reddit you can see people (memetards) posting jpg images from 20 years ago and calling them memes and saying they created something new and unique

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Antonio

Don’t tell my wife that, she’ll kill me.

SENZA

I joined the Strip Club instead – No Regrets