Gold extended its streak of losses to four in a row on Thursday, and also ended the day at a one-week low. Silver, platinum and palladium, meanwhile, declined for a second straight session.
Gold for August delivery shed $8.60, or 0.5%, to settle at $1,829.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since June 15.
"Gold and silver prices are modestly lower in midday U.S. trading Thursday, as the metals markets are participants in a general commodity market erosion led by crude oil. U.S. and global economic recession fears have hit the commodity markets hard amid ideas of reduced demand in the coming months, including for metals,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,823.50 and $1,848.90. They slipped 0.02% on Wednesday and they dipped 0.1% in starting the trading week on Tuesday.
Silver for July delivery settled down 37.9 cents, or 1.8%, to $21.042 an ounce. The finish was the lowest since June 14. Silver futures ranged from $20.89 to $21.50. They declined 1.6% on Wednesday and they rose 0.8% on Tuesday.
In other precious metals futures prices on Thursday:
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July platinum gave back $22.50, or 2.4%, to $904.40 an ounce, trading between $902.20 and $928.90. The finish was the lowest since Dec. 15 when platinum ended at $894.20 an ounce.
- Palladium for September delivery declined $13.80, or 0.8%, to $1,824.10 an ounce, ranging from $1,819 to $1,884.50. The settlement was the lowest since June 17.
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 / 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 | 0 | 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 |
As Sir Kaiser has noted, Gold and Palladium are playing Leap Frog.