Gold declined for a second straight session Wednesday, ending at an eight-week low, while silver, platinum and palladium recovered from some to all their prior-day losses.
Gold for December delivery shed $8.30, or 0.5%, to settle at $1,709.10 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s lowest since closing at $1,700.20 an ounce on July 20.
"Gold could potentially stabilize and right now, the markets are still kind of digesting that inflation report, but it seems that $1,700 level is holding – that’s key for gold," Reuters quoted Edward Moya, senior analyst with OANDA.
Gold futures traded between $1,705.90 and $1,717.30. They fell 1.3% on Tuesday and they gained 0.7% on Monday, for their highest settlement since Aug. 29.
Advancing for the seventh time in eight sessions, silver for December delivery added 7.8 cents, or 0.4%, to settle at $19.569 an ounce. Silver prices traded between $19.21 and $19.69. They lost 1.9% on Tuesday and they soared 5.8% on Monday, for their strongest finish since Aug. 16.
In PGM futures on Wednesday:
Also rising for the seventh time in eight sessions, October platinum tacked on $21.70, or 2.5%, to $905.40 an ounce, ranging from $873.40 and $911.10. The settlement was the highest since Aug. 18.
- Climbing for the fifth time in six sessions, palladium for December delivery rose $61.60, or 2.9%, to $2,172.70 an ounce, trading between $2,069.50 and $2,177.50. On Monday, palladium at $2,274.60 an ounce posted its highest close since Aug. 11.
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||May||June||July||August||September||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||164,500||31,000||59,500||47,500||20,000||753,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||7,000||6,000||5,000||2,000||0||73,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||8,000||18,000||2,000||4,000||4,000||138,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||50,000||135,000||20,000||20,000||5,000||550,000|
|$50 American Buffalo 1 Oz Gold Coin||0||56,000||21,500||39,500||22,500||11,500||333,000|
|$1 American Eagle 1 Oz Silver Coin||0||1,350,000||925,000||850,000||850,000||425,000||12,831,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||23,500||15,500||1,000||0||80,000|