Precious metals prices tumbled Thursday, led by a 7.3% drop in palladium. Silver marked a nearly 22-month low and gold finished at a more than 3-month low.
Gold for June delivery fell $29.10, or 1.6%, to settle at $1,824.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Feb. 8 when gold ended at $1,821.80 an ounce.
Gold and silver were "pressured in part by a very strong U.S. dollar index that today scored a 20-year high. Bearish charts are also keeping the technically based bears active on the sell side in the futures markets,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note."
Gold futures ranged from $1,820.70 to $1,858.80. They rose 0.7% on Wednesday, they declined 1% on Tuesday, and they fell 1.3% on Monday.
Silver for July delivery tumbled 80.2 cents, or 3.7%, to close at $20.773 an ounce. The settlement was the lowest since silver ended at $20.192 an ounce on July 20, 2020. Silver futures traded between $20.59 and $21.63. They added 0.7% on Wednesday, they lost 1.8% on Tuesday, and they dropped 2.5% on Monday.
In other precious metals futures prices on Thursday:
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July platinum declined $58.40, or 5.9%, to $931.40 an ounce, ranging from $929.30 to $987.40.
- Palladium for June delivery sank $147.30, to $1,860.60 an ounce, trading between $1,837 and $2,025.00.
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 | March | April | May | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 36,000 | 0 | 140,500 | 80,500 | 36,000 | 466,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 0 | 5,000 | 3,000 | 1,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 0 | 20,000 | 14,000 | 4,000 | 106,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 75,000 | 25,000 | 50,000 | 370,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 16,500 | 0 | 64,500 | 27,500 | 16,500 | 198,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 425,000 | 0 | 1,080,500 | 850,000 | 425,000 | 8,856,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 14,200 | 0 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
