Platinum rose on Tuesday while gold, silver and palladium declined. Silver closed at a more than 21-month low. Gold, meanwhile, ended at a 3-month low.
Gold for June delivery settled down $17.60, or 1%, to $1,841 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since Feb. 10 when gold ended at $1,837.40 an ounce.
"Bearish outside markets today that saw a higher U.S. dollar index and lower crude oil prices helped to pressure the precious metals markets. Fully negative near-term technical charts are also fueling the bearish short-term speculative traders. The safe-haven metals have also been punished recently by rising bond yields,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note."The bulls remain perplexed that their metals are ignoring a wobbly U.S. stock market and elevated risk aversion in the overall marketplace due to a major war and rising inflation."
Gold futures ranged from $1,838.70 to $1,864.70. They fell 1.3% on Monday.
Silver for July delivery lost 39.6 cents, or 1.8%, to close at $21.424 an ounce. The settlement was the lowest since silver ended at $20.192 an ounce on July 20, 2020. Silver futures traded between $21.38 and $22.09. They dropped 2.5% on Monday.
In other precious metals futures on Tuesday:
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July platinum rose $8.70, or 0.9%, to $947.20 an ounce, ranging from $930.50 to $970.10.
- Palladium for June delivery declined $17.80, or 0.9%, to $2,043.70 an ounce, trading between $2,020 and $2,149.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased on Tuesday by 5,000 ounces in American Gold Eagles. 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 | March | April | May | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 36,000 | 140,500 | 80,500 | 36,000 | 466,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 5,000 | 3,000 | 1,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 20,000 | 14,000 | 4,000 | 106,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 50,000 | 0 | 75,000 | 25,000 | 50,000 | 370,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 16,500 | 64,500 | 27,500 | 16,500 | 198,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 425,000 | 1,080,500 | 850,000 | 425,000 | 8,856,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 14,200 | 0 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
