Gold, Silver and Platinum Mark New Lows Tuesday, July 5

4

In kicking off the new trading week Tuesday following the U.S. Independence Day holiday on Monday, precious metals posted losses ranging from 1% for palladium to 2.8% for silver. Gold, silver and platinum marked another, new round of settlement lows.

Gold for August delivery fell $37.60, or 2.1%, to settle at $1,763.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since gold ended at $1,762.70 an ounce on Dec. 2.

"Gold futures hit a 6.5-month low and silver a two-year low today. The precious metals are reeling from a stronger U.S. dollar index that scored a 20-year high today, and by big losses in crude oil that saw Nymex crude drop back below $100 a barrel," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,763 and $1,815.20. They shed 1.6% last week.

Silver for September delivery gave back 54.6 cents to end at $19.121 an ounce. The close was the lowest since silver settled at $19.053 an ounce on July 10, 2020. Silver futures ranged from a low of $18.97 to a high of $20.10. They sank 6.9% last week.

In other precious metals futures prices on Tuesday:

  • October platinum settled down $20.60, or 2.4%, to $850.70 an ounce — the lowest since ending at $848.40 an ounce on Oct. 30, 2020. Platinum traded between $837.60 and $878.70.

  • Palladium for September delivery declined $19.30 to $1,918.80 an ounce, ranging from $1,876.50 to $1,953.

Last week, platinum fell 3.6% while palladium increased 4.5%.

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 / July Last Week April May June 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 27,500 80,500 164,500 27,500 622,500
$25 American Eagle 1/2 Oz Gold Coin 0 4,000 3,000 7,000 4,000 64,000
$10 American Eagle 1/4 Oz Gold Coin 0 16,000 14,000 8,000 16,000 126,000
$5 American Eagle 1/10 Oz Gold Coin 0 105,000 25,000 50,000 105,000 475,000
$50 American Buffalo 1 Oz Gold Coin 0 12,500 27,500 56,000 15,000 253,000
$1 American Eagle 1 Oz Silver Coin 0 861,000 850,000 1,350,000 861,000 10,642,500
$100 American Eagle 1 Oz Platinum Coin 0 18,500 0 0 18,500 58,500
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0

 

Subscribe
Notify of
guest
4 Comments
Inline Feedbacks
View all comments
SENZA

Scrooge used to shovel out a Tablespoon of Gold to pay the monthly expenses now he needs a double wide shovel –

07-05-2022_015.jpg
SENZA

Thanks for that warm award – it reminds me of setting around at the Grand Floridian with Scrooge McDuck and Goofy while the Kitchen prepares one of those huge Steak Burgers – hold the bacon.

07-05-2022_024.jpg
SENZA

All I can say is……………..

07-06-2022_003.jpg
SENZA

A glance at futures as we come into the home stretch

07-06-2022_013.jpg