Precious metals posted gains in their kick off to the new trading week on Monday. Their advances ranged from 0.4% for gold to 3% for platinum.
Gold for August delivery rose $6.60 to settle at $1,710.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Bullish outside market that see the U.S. dollar index sharply lower and crude oil prices solidly higher are helping to lift the precious metals markets to start the trading week. A lack of fresh, markets-moving economic or geopolitical news early this week has metals traders looking at the outside markets for direction," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,704.40 and $1,722. They fell 2.2% last week, for their fifth straight weekly loss, and ended Friday at their lowest price since March 30, 2021.
Silver for September delivery moved up 24.6 cents, or 1.3%, to end at $18.84 an ounce. Silver futures ranged from $18.58 to $18.95. They lost 3.3% last week. On Thursday, silver logged its weakest finish settlement since July 1, 2020.
In other precious metals prices on Monday:
-
October platinum added $25.10 to $856 an ounce, trading between $830.70 and $863.70. On Thursday, platinum posted its weakest finish since June 26, 2020.
- Palladium for September delivery gained $19.70, or 1.1%, to $1,849.10 an ounce, ranging from $1,835 to $1,892.50.
Last week, platinum dropped 5.9% and palladium tumbled 15.2%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Monday. 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) | ||||||
|---|---|---|---|---|---|---|
| Monday | Last Week | May | June | July | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 18,000 | 164,500 | 31,000 | 33,000 | 659,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 7,000 | 6,000 | 3,000 | 69,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 8,000 | 18,000 | 2,000 | 130,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 135,000 | 5,000 | 510,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 14,000 | 56,000 | 21,500 | 23,000 | 282,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 425,000 | 1,350,000 | 925,000 | 425,000 | 11,131,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 1,000 | 0 | 23,500 | 15,000 | 78,500 |
