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|