Precious Metals Decline Wednesday, May 18

6

Precious metals declined on Wednesday, led by matching 2% drops in platinum and palladium. Losses in silver and palladium were their first in four sessions.

Gold for June delivery settled down $3, or 0.2%, to $1,815.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, June gold futures see a nine-week-old price downtrend in place on the daily bar chart. Bears have the solid overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $1,875.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,750.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.”

Gold futures traded between $1,805 and $1,822.90. They rose 0.3% on both Tuesday and Monday.

Silver for July delivery shed 20.6 cents, or 1%, to settle at $21.544 an ounce. Silver futures ranged from $21.38 to $21.75. They gained 0.9% on Tuesday and they surged 2.6% on Monday.

In PGM futures on Wednesday:

  • July platinum declined $19, or 2%, to $924.40 an ounce, trading between $918.60 and $957.30.

  • Palladium for June delivery fell $39.60, or 2%, to $1,992.60 an ounce, ranging from $1,965 to $2,100.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged 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 Last Week This Week March April May 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 57,000 140,500 80,500 93,000 523,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 5,000 3,000 2,000 55,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 20,000 14,000 8,000 110,000
$5 American Eagle 1/10 Oz Gold Coin 0 50,000 0 75,000 25,000 50,000 370,000
$50 American Buffalo 1 Oz Gold Coin 0 0 20,000 64,500 27,500 36,500 218,500
$1 American Eagle 1 Oz Silver Coin 0 0 425,000 1,080,500 850,000 850,000 9,281,500
$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

 

Subscribe
Notify of
guest
6 Comments
Inline Feedbacks
View all comments
Rich

Silver and Gold were down some, but Stocks were a Wipe Out!

wipeout.jpg
Antonio

Least he has a leash.

SENZA

All pet sharks must be kept on a leash

05-18-2022_028.jpg
SENZA

One time my harness tangled with some thick seaweed and I thought it was the End but this isn’t about me; it’s about who’s First on Thread and there is no denying it’s Rich = CONGRATS BRO YOUR IN THE RHYTHM https://www.youtube.com/watch?v=9YuLlHHukwU

05-18-2022_026.jpg
Antonio

Bitcoin up +995 on May 19th.

worlds-fastest-growing-cryptocurrency-platform-crypto-com-launches-campaign-introducing-platform-to-global-consumers.jpg
SENZA

Now $1,467.00 looks like they got a couple suckers to jump in – it won’t end well = BitCon

Just ask John, wait you can’t -shortly after he proclaimed BitCon would put the US Government out of Business – he was “found dead”

05-19-2022_037.jpg