Gold, silver and platinum declined together for a sixth session in a row on Monday. They also registered near four-week lows. Palladium, meanwhile, closed lower as well, for its second straight loss, and posted an almost five-week low.
Gold for December delivery declined $14.50, or 0.8%, to settle at $1,748.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since July 27.
"A strong U.S. dollar index that hit a five-week high overnight and is very close to its 20-year high scored in July is keeping the precious metals market buyers scarce at present," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,740.20 and $1,762.10. They gave back 2.9% last week.
Silver for September delivery shed 19.1 cents, or 1%, to settle at $18.878 an ounce. Like for gold, the close was silver’s lowest since July 27. Silver futures ranged from $18.60 to $19.07. They sank 7.9% last week.
In other precious metals prices on Monday.
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October platinum fell $20, or 2.3%, to $868 an ounce — the weakest since July 26, trading between $855.60 and $892.70.
- Palladium for September delivery tumbled $149.60, or 7%, to $1,981.80 an ounce — the lowest since July 21, ranging from $1,947 to $2,146.50.
Last week, platinum dropped 7.4% and palladium fell 4%.
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 | August | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 6,000 | 164,500 | 31,000 | 59,500 | 27,000 | 712,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 7,000 | 6,000 | 5,000 | 1,000 | 72,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 8,000 | 18,000 | 2,000 | 2,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 135,000 | 20,000 | 15,000 | 540,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,500 | 56,000 | 21,500 | 39,500 | 11,000 | 310,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 17,000 | 1,350,000 | 925,000 | 850,000 | 425,000 | 11,981,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 23,500 | 15,500 | 1,000 | 80,000 |
