Platinum notched a decent gain on Wednesday while gold, silver and palladium declined. Silver’s loss was its eleventh in twelve sessions. The metal also settled at a new, just over three-month low.
Gold for June delivery dipped $1.80, or 0.1%, to end at $1,868.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, June gold futures see a three-week-old price downtrend in place on the daily bar chart. Bears have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at last week’s high of $1,935.50. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold traded between $1,861.10 and $1,889.80. They rose 0.4% on Tuesday and they fell 2.5% on Monday for their lowest settlement since Feb. 15.
Silver for July delivery ended down 26.3 cents, or 1.2%, to $22.402 an ounce. The settlement was silver’s lowest since it finished Feb. 3 at $22.375 an ounce. Silver futures ranged from $22.22 to $22.95. They climbed 0.4% on Tuesday and they dropped 2.2% on Monday.
In PGM futures Wednesday:
July platinum gained $21, or 2.2%, to $979.60 an ounce, trading between $957.20 and $984.20.
- Palladium for June delivery lost $2.30, or 0.1%, to $2,236 an ounce, ranging from $2,211 to $2,282.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Wednesday. 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 / Week / May||Last Week||March||April||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||19,500||140,500||80,500||430,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||5,000||3,000||53,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||20,000||14,000||102,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||75,000||25,000||320,000|
|$50 American Buffalo 1 Oz Gold Coin||0||10,000||64,500||27,000||181,500|
|$1 American Eagle 1 Oz Silver Coin||0||17,000||1,080,500||850,000||8,431,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||14,200||0||40,000|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||0|