Precious metals advanced across the board on Thursday. Gains were modest for gold and silver and solid for platinum and palladium. Gold’s daily win was its first in eight sessions.
Gold for August delivery rose $3.20, or 0.2%, to settle at $1,739.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are are slightly higher in midday U.S. trading Thursday, on mild short covering in the futures markets and corrective bounces after gold hit an 8.5-month low and silver a two-year low on Wednesday. However, it is disappointing to the gold and silver bulls that their metals’ prices did not react more to the upside with today’s big rebound in crude oil prices," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,734.70 and $1,748.20. They declined 1.6% on Wednesday, for their lowest settlement since Sept. 29, and they fell 2.1% in starting the new trading week on Tuesday.
Scoring a second day of gains following five straight losses, silver for September delivery added 2.9 cents, or 0.2%, to close at $19.188 an ounce. Silver futures ranged from a low of $19.03 to a high of $19.44. They also edged up 0.2% on Wednesday, and they gave back 2.8% on Tuesday for their weakest close since July 10, 2020.
In other precious metals prices on Thursday:
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October platinum tacked on $24.90, or 3%, to $865.80 an ounce, trading between $836.70 and $869.10. On Wednesday, they closed at their lowest price since Sept. 24, 2020.
- Palladium for September delivery soared $97.10, or 5.1%, to $1,993.40 an ounce, ranging from $1,899.50 to $2,007.
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 / 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 |
On the subject of Palladium, the 2021-W American Eagle One Ounce Palladium Proof Coin became “Not Available” two weeks ago, and now surprisingly looks to be the lowest mintage coin of the young series, with a mintage = 5,170 out of a product/mintage limit = 12,000.
Perhaps it’s the new Palladium Blonde Trend that’s causing all of the surprises but I’m confused about the 5170/12,000 split
Curious! Thousands were listed as available not long ago and sale have been sluggish. The 2019 palladium coins show a dramatic reduction in availability from thousands to double digits of late also. Lets see what the sales figures show.
Congrats Sir Kaiser, that’s one way to light up First-On-Thread https://www.youtube.com/watch?v=_3bQ49ZUgG8
I’m sure there will be answers to those important questions -someday – but for now I’m just trying to get my tongue back in my mouth
Another Putin Tax? They (he) does control this weight class.
And let’s not over look that Gold surged to the Moon today in fact, a whole $3.20. Did I mention I’m now buying REITS instead of Silver and Gold.
With the evolution of electric vehicles which do not use catalytic convertors your collection may not fetch a premium but I bet it sure does look pretty
And I bet he upgrades to one of our favorite metals after the fleecing at the pumps he has given all of us
Instant rarity… Freaky!