Precious Metals Advance Thursday, June 16


Precious metals moved ahead as a group for a second straight session Thursday. Palladium’s gain was actually its third in a row. Advances on the day ranged from 1.7% for gold to 2.9% for platinum.

Gold for August delivery tacked on $30.30 to settle at $1,849.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Safe-haven demand and bargain hunting are featured as marketplace anxiety has upticked, following this week’s moves by major central banks, including a Federal Reserve interest rate hike Wednesday afternoon. A sharp sell off in the U.S. dollar index today is also benefitting the metals market bulls," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

The Fed raised its target interest rate on Wednesday by three-quarters of a percentage point to between 1.5% and 1.75%. The hike was the biggest since 1994.

Gold futures traded between $1,816.30 and $1,855.30. They edged up 0.3% on Wednesday, they fell 1% on Tuesday, marking their lowest settlement since May 13, and they dropped 2.3% on Monday.

Silver for July delivery surged 46.5 cents, or 2.2%, to close at $21.885 an ounce. Silver futures ranged from $21.32 and $21.96. They jumped 2.2% on Wednesday, they declined 1.4% on Tuesday, registering their lowest finish since May 12, and they lost 3.1% on Monday.

In other precious metals futures prices on Thursday:

  • July platinum rose $26.50 to $951.10 an ounce, trading between $919 and $952.20. On Tuesday, platinum at $910.70 an ounce closed at its lowest price since April 27.

  • Palladium for September delivery added $32.20, or 1.8%, to $1,866.50 an ounce, ranging from $1,821 to $1,872. On Monday, palladium at $1,778.40 an ounce logged its lowest finish since Dec. 20.

US Mint Bullion Sales in 2022

Published U.S. Mint bullion sales were unchanged on 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 / 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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The price of Palladium has come back down this week to being on par with Gold at around $1,850/oz, and correspondingly the Mint prices for the 2021 and 2020 Palladium American Eagles has dropped to $2,800. That’s a far cry from the $3,900 price the Mint increased them to following the Ukraine Invasion. There is now only a $100 price difference between the 1 ounce Proof Gold American Eagle (at $2,700) and the 1 ounce Proof Palladium American Eagle (at $2,800). And this Breaking News just in… Kaiser Wilhelm is back with us after taking a little time off. Welcome… Read more »


And we are blessed to have you back. The comment sections were almost non-existent and so boring without you. Although, Antonio did his best to liven things up. Now all we need is the return of SENZA The Great for order to be fully restored.

Last edited 9 months ago by Rich