Platinum rose on Tuesday, but gold, silver and palladium declined. Gold finished the day at a bit more than 29.5-month low.
Gold for December delivery lost $7.10, or 0.4%, to settle at $1,671.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s lowest since closing at $1,645.70 an ounce on April 3, 2020.
"Hawkish monetary policies from the U.S. Federal Reserve and other major central banks of the world have cast a pall over the stock and financial markets at present, but have boosted U.S. Treasury yields and the U.S. dollar index — both of which are competing assets with the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,668.10 and $1,688.80. They shed 0.3% on Monday.
Silver for December delivery fell 17.5 cents, or 0.9%, to close at $19.183 an ounce. The finish was silver’s worst since ending at $18.767 an ounce on Sept. 9. Silver futures ranged from $19.07 to $19.61. They dipped 0.1% on Monday.
In other precious metals futures on Tuesday:
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October platinum added $4.30, or 0.5%, to $922.80 an ounce, trading between $917.60 and $933.90.
- Palladium for December delivery dropped $50.20, or 2.3%, to $2,170.50 an ounce, ranging from $2,114 to $2,226.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased Tuesday with gains in American Eagle gold and silver coins and American Buffalo gold coins.
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) | |||||||
|---|---|---|---|---|---|---|---|
| Tuesday / This Week | May | June | July | August | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 27,500 | 164,500 | 31,000 | 59,500 | 47,500 | 47,500 | 780,500 |
| $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 | 10,000 | 50,000 | 135,000 | 20,000 | 20,000 | 15,000 | 560,000 |
| $50 American Buffalo 1 Oz Gold Coin | 27,000 | 56,000 | 21,500 | 39,500 | 22,500 | 38,500 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 408,000 | 1,350,000 | 925,000 | 850,000 | 850,000 | 833,000 | 13,239,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 23,500 | 15,500 | 1,000 | 0 | 80,000 |
That’s more than two years! Yikes!
This is one of those curious ironies of life, Antonio, since the smaller the quantity by way of precious metals one owns the less it matters where they happen to go value wise.