Gold Logs Third Straight Gain on Monday, May 23

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Gold gained for a third straight session on Monday and finished near a two-week high. Silver, platinum and palladium also gained on the day following their losses on Friday.

Gold for June delivery climbed $5.70, or 0.3%, to settle at $1,847.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 11.

"The metals [gold and silver] are being supported by the sharp losses in the U.S. dollar index that hit a four-week low today. Some safe-haven demand is also featured early this week amid an overall marketplace that still shows risk appetite far from robust,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,843.30 and $1,864.30. They advanced 1.9% last week.

Silver for July delivery edged up 4.9 cents, or 0.2%, to settle at $21.723 an ounce. Silver futures ranged from $21.66 to $22.21. They surged 3.2% last week.

In other precious metals futures prices on Monday:

  • July platinum added $9.20, or 1%, to $950.30 an ounce, trading between $948 and $971.70.

  • Palladium for June delivery gained $27, or 1.4%, to $1,966.70 an ounce, ranging from $1,949.50 to $2,025.

Last week, platinum and palladium each rose 1.1%.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Monday. 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)
Monday Last Week March April May 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 57,000 140,500 80,500 93,000 523,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 5,000 3,000 2,000 55,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 20,000 14,000 8,000 110,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 75,000 25,000 50,000 370,000
$50 American Buffalo 1 Oz Gold Coin 0 20,000 64,500 27,500 36,500 218,500
$1 American Eagle 1 Oz Silver Coin 0 425,000 1,080,500 850,000 850,000 9,281,500
$100 American Eagle 1 Oz Platinum Coin 0 0 14,200 0 0 40,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0

 

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Rich

Good as

gooold.jpg
Major D

Rich, I started looking over the Mint’s weekly sales report ending May 22 which is available today (in advance of CoinNews’ follow-up analysis). What jumped out at me is the NLB commemoratives having negative sales in every category silver and gold. The biggest loss with the Privy dollar, which was minus 3,384 from the week prior. I see the Mint now has the Privy back on sale today, which is very surprising to see as we all thought the Privy was going to be the keeper. Next, the ASE W proof has minus 1,095, and the Congrats set has minus… Read more »

Rich

Major D, Thanks for the advance information on last week’s Mint Sales. I have not seen the sales data yet, but from what you have reported, the negative sales is startling, especially for the NLB Privy Proof Dollar. Once I have had a chance to look over the data, I will be able to provide better feedback. My first thought is that the Mint sales of the 2022 Commemorative Program products are being affected by the long time lag between initial pre-sale ordering and the coins actual release/fulfillment, similar to what we saw last year with the pre-sales of the… Read more »

Antonio

Wait! All our previous comments were wiped out? That’s so unfair. Now I see what happened to Kaiser Wilhelm.

Major D

This place seems like a ghost town now. I hope Kaiser can come back.

Antonio

and SENZA. I can hear the wind howling through the trees. Eerie.

Jeff Legan

Oh, I doubt SENZA is gone, Antonio. It has been less than a day since his last post. I find it hard to believe I drove him away from this site with my last reply and I do not think he did anything that would result in this site banning him. I believe he is tough enough that he would not just slink away over some words. I am guessing he is thinking. He is probably preparing a fresh load of insults to unload on me as we speak. Or maybe he will surprise me and unveil a newer, kinder… Read more »

Rich

Antonius, Et tu, SENZA?

Last edited 1 month ago by Rich
Jeff Legan

I miss his posts too, Major D.

Rich

I agree with your assessment, Major D. It may seem like a ghost town here with Sir Kaiser gone, but when you’re dealing with the United States Mint there is never a dull moment and coin-collecting life is full of surprises.