Palladium kicked off the first trading day of June with a modest loss, while prices for other precious metals advanced — slightly for gold and decently for silver and platinum.
Gold for August delivery inched up 30 cents, or 0.02%, to settle at $1,848.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, August gold futures see an 11-week-old price downtrend in place on the daily bar chart. Bears have the firm overall near-term technical advantage," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. "Bulls’ next upside price objective is to produce a close above solid resistance at $1,900.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the May low of $1,785.00."
Gold futures traded between $1,830.20 and $1,852.90. They shed 0.5% on Tuesday, ending the month of May with a 3.3% decline.
Silver for July delivery rose 22.7 cents, or 1.1%, to settle at $21.915 an ounce. Silver futures ranged from $21.41 and $22. They fell 1.9% on Tuesday, posting a loss in May of 6.1%.
In PGM futures on Wednesday:
July platinum tacked on $28.10, or 2.9%, to $996.40 an ounce, trading between $958.30 and $1,007.50.
- Palladium for September delivery dipped $4.40, or 0.2%, to $2,001.90 an ounce, ranging from $1,972 to $2,034.
US Mint Bullion Sales in 2022
Published U.S. 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 / Week||Last Week||March||April||May||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||44,500||140,500||80,500||137,500||568,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||3,000||5,000||3,000||5,000||58,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||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||15,500||64,500||27,500||52,000||234,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||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|