Gold Marks First Decline in Six Sessions

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Precious metals ended lower on Wednesday. Their losses ranged from 0.7% for gold to 3.9% for palladium. Gold’s drop was its first in six sessions.

Gold for December delivery lost $13.30 to settle at $1,776.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Rising U.S. Treasury yields, a firmer U.S. dollar index and lower crude oil prices at mid-week are squelching buying interest in the precious metals. An up-tick in trader/investor risk appetite today is also bearish for the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,770 and $1,789.40. They edged up 0.1% on Tuesday, for their strongest close since July 1, and they gained 0.3% on Monday.

Falling for a second day in a row after advancing for five straight sessions, silver for September delivery shed 24.5 cents, or 1.2%, to end at $19.894 an ounce. Silver futures ranged from $19.75 to $20.14. They fell 1.1% on Tuesday and they gained 0.8% on Monday to end at their best price since June 29.

In PGM futures on Wednesday:

  • October platinum declined $16.50, or 1.8%, to $888.50 an ounce, trading between $880.50 and $896.40.

  • Palladium for September delivery fell $82.30 to $2,007.90 an ounce, ranging from $1,983.50 to $2,093. On Monday, palladium at $2,199.40 an ounce registered its highest finish since May 4.

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 / Week / August May June July 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 164,500 31,000 59,500 685,500
$25 American Eagle 1/2 Oz Gold Coin 0 7,000 6,000 5,000 71,000
$10 American Eagle 1/4 Oz Gold Coin 0 8,000 18,000 2,000 130,000
$5 American Eagle 1/10 Oz Gold Coin 0 50,000 135,000 20,000 525,000
$50 American Buffalo 1 Oz Gold Coin 0 56,000 21,500 39,500 299,000
$1 American Eagle 1 Oz Silver Coin 0 1,350,000 925,000 850,000 11,556,500
$100 American Eagle 1 Oz Platinum Coin 0 0 23,500 15,500 79,000
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SENZA

Today somebody told me they were doubling down on Silver so they could trade it in for Gold

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Antonio

Me leprechaun gold is rising. ūüėČ