Gold and Silver Log 1-Month Lows on Tuesday, June 14

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Palladium edged higher on Tuesday, after logging a near six-month low on Monday, while gold, silver and platinum declined and marked another round of settlement lows.

Gold for August delivery fell $18.30, or 1%, to settle at $1,813.50 an ounce on the Comex division of the New York Mercantile Exchange. The close was the lowest since May 13 when gold ended at $1,808.20 an ounce.

"A strong U.S. dollar index that this week hit a 20-year high and U.S. Treasury yields that this week hit multi-year highs are significantly bearish elements keeping the metals prices under selling pressure. Gold and silver bulls got no help from another hot U.S. inflation reading today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

"Today’s U.S. producer price index report for May came in a up 10.8%, year-on-year and up 0.5% from April. "

Gold futures traded between $1,806.40 and $1,833.30. They dropped 2.3% on Monday.

Silver for July delivery shed 30.1 cents, or 1.4%, to close at $20.954 an ounce. The settlement was the weakest since May 12 when silver ended at $20.773 an ounce. Silver futures ranged from $20.84 and $21.36. They lost 3.1% on Monday.

In other precious metals futures on Tuesday:

  • July platinum declined $21.60, or 2.3%, to $910.70 an ounce, trading between $908.70 and $939.30. The finish was the lowest since April 27 when platinum ended at $910.40 an ounce.

  • Palladium for September delivery rose $1.80, or 0.1%, to $1,780.20 an ounce, ranging from $1,765 to $1,836. On Monday, palladium dropped 6.7% and closed at its lowest price since Dec. 20.

US Mint Bullion Sales in 2022

Published U.S. Mint bullion sales were unchanged on Tuesday. 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)
Tuesday / This Week Last Week April May June 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 80,500 137,500 0 568,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 3,000 5,000 0 58,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 14,000 8,000 0 110,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 50,000 0 370,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 27,500 56,000 2,500 240,500
$1 American Eagle 1 Oz Silver Coin 0 0 850,000 850,000 0 9,281,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 40,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0

 

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