Gold Prices Return to Top 15.5-Month Low

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Gold, silver and platinum declined on Wednesday while palladium rose modestly. Gold ended the day at a more than 15.5-month low.

Gold for August delivery declined $10.50, or 0.6%, to settle at $1,700.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since March 30, 2021, when gold ended at $1,686 an ounce.

"There has been a ‘collapse in volatility’ on the daily bar chart, which suggests a significantly bigger price move is on the horizon in gold — possibly yet this week. Given that gold prices are trending lower on the daily chart, odds favor that bigger price move being on the downside. Improved trader/investor risk appetite this week is keeping buyers in the safe-haven metals mostly standing on the sidelines," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,697.30 and $1,712.70. They edged up 0.03% on Tuesday and they rose 0.4% on Monday.

Silver for September delivery ended down 4.5 cents, or 0.2%, to $18.668 an ounce. Silver futures ranged from $18.58 to $19.03. They shed 0.7% on Tuesday and they moved up 1.3% on Monday.

In PGM futures on Wednesday:

  • October platinum fell $12.40, or 1.4%, to $846.50 an ounce, trading between $841 and $871.

  • Palladium for September delivery rose $7.40, or 0.4%, to $1,861.60 an ounce, ranging from $1,842 to $1,897.00.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Wednesday. 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)
Wednesday / This Week 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
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SENZA

It’s been a Hell of a Ride Miners’ it’s just a damn good thing we’re not in this to profit https://www.youtube.com/watch?v=V51Itpvc1Pw

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Rich

Maybe there’s some light at the end of the tunnel

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SENZA

USPS updated my tracking says I will have it tomorrow

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SENZA

.

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Rich

That’s good news, SENZA. I just checked the USPS tracking for my CPH and it’s out for delivery, so I should have it today (it previously had my expected delivery date for tomorrow, Friday). So my shipment is arriving a day earlier and yours a day latter than originally expected (because of your Hotlanta detour). Anyways, let’s compare notes/pictures tomorrow. Hope we both got 70s!

Last edited 18 days ago by Rich