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|