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|