Gold Snaps 4-Session Winning Streak on Wednesday, May 25

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Gold prices declined for the first time in five sessions on Wednesday, and after posting a more than two-week high on Tuesday.

Gold for June delivery fell $19.10, or 1%, to settle at $1,846.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Corrective pullbacks from recent good price gains are featured at mid-week. A rebound in the U.S. dollar index and rising U.S. Treasury yields are negatives for the precious metals on this day,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,838.70 and $1,866.70. They gained 1% on Tuesday, for their highest settlement since May 6, and they climbed 0.3% on Monday.

Silver for July delivery shed 19.3 cents, or 0.9%, to end at $21.87 an ounce. Silver futures ranged from $21.72 to $22.15. They finished up 1.6% on Tuesday, also for their best close since May 6, and they edged 0.2% higher on Monday.

In PGM futures on Wednesday:

  • July platinum declined $13.60, or 1.4%, to $929.30 an ounce, trading between $922.40 and $946.80.

  • Palladium for June delivery rose $2.70, or 0.1%, to $1,989.30 an ounce, ranging from $1,943 to $2,037.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on 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 / This Week 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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