Gold, Silver and Platinum Rise Thursday, May 19

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Gold, silver and platinum scored solid increases on Thursday, with each also registering more than one-week settlement highs, while palladium declined for a second straight day after three straight session gains.

Gold for June delivery tacked on $25.30, or 1.4%, to settle at $1,841.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 11.

"The precious metals [gold and silver] are boosted by a sharply lower U.S. dollar index and a slight decline in U.S. Treasury yields on this day," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

“An economic recession in the U.S. is now on the minds of traders and investors who were already saddled with other concerns, including the Russia-Ukraine war and Covid cases causing major cities in China to be on lockdown, which is disrupting global trade. Those concerns are also prompting some safe-haven demand for gold and silver."

Gold futures traded between $1,808.40 and $1,848.20. They dipped 0.2% on Wednesday, and they climbed 0.3% on both Tuesday and Monday.

Silver for July delivery gained 36.4 cents, or 1.7%, to settle at $21.908 an ounce. The settlement was the highest since May 6. Silver futures ranged from $21.25 to $22.01. They declined 1% on Wednesday, they gained 0.9% on Tuesday, and they surged 2.6% on Monday.

In other precious metals futures on Thursday:

  • July platinum added $29.30, or 3.2%, to $953.70 an ounce, trading between $908 and $956.70. Like for gold, the settlement was platinum’s highest since May 11.

  • Palladium for June delivery fell $14.20, or 0.7%, to $1,978.40 an ounce, ranging from $1,928 to $2,010.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged 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 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

 

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Jake

As always, Thank You Coin News, and coin News staff. A special Thank You to KW and Seth also. If you collect coins, you’ll always be on the right track. Cheers!

SENZA

I often here new and seasoned collector’s say it’s expensive to be a collector and I always say – you can’t go wrong collecting money…

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Jake

Hey, your right, and collecting money will always be better than saving money. I got a news flash everyone is a dealer and flipper. But not everyone is smart. And even stupid people know how to breathe air. Also if everyone buys something everyone is a consumer.

SENZA

A few days ago there were 549 (D) Rolls available and today the number is 778 – dealer and flippers literally can’t give them away – priced below cost on Feebay and no takers. This is the Collector – Consumer losing faith in the system and US Mint – when I really think hard about it – it’s a nasty dirty trick for the US Mint to claim a product is sold out (False Scarcity with Hype) and then have thousands of that product available days later – it’s a betrayal to The Collector, The Hobby and the entire Consumer… Read more »

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