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 |
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!
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…
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.
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 »