Gold Prices Dip; Silver Logs 3-Month Low

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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
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Antonio

I wonder how much my teeth would be worth if I had them filled with gold fillings.

Rich

About $60 per gram.

Antonio

Thanks. I needed that.