Precious metals posted another round of losses on Monday. Gold ended the day at a fresh, nearly two-and-a-half-year low.
Gold for December delivery gave back $22.20, or 1.3%, to settle at $1,633.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s weakest since ending at $1,591.40 an ounce on April 1, 2020.
"Rising government bond yields and a very strong U.S. dollar index are the main bearish factors pushing the precious metals markets down," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,628.80 and $1,657.20. They fell 1.7% last week.
Silver for December delivery settled down 43 cents, or 2.3%, to $18.48 an ounce. The close was silver’s lowest since it closed at $18.442 an ounce on Sept. 8. Silver futures ranged from $18.33 to $19.05. They declined 2.4% last week.
In other precious metals prices on Monday:
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October platinum shed $8.60, or 1%, to $850.10 an ounce, trading between $844.10 and $864.80. The finish was the metal’s worst since Sept. 7.
- Palladium for December delivery declined $21.50, or 1%, to $2,049 an ounce, ranging from $2,025 to $2,098. Like for platinum, the close was palladium’s lowest since Sept. 7.
Last week, platinum fell 4.7% and palladium lost 2%.
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 | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 27,500 | 164,500 | 31,000 | 59,500 | 47,500 | 47,500 | 780,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 7,000 | 6,000 | 5,000 | 2,000 | 0 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 8,000 | 18,000 | 2,000 | 4,000 | 4,000 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 50,000 | 135,000 | 20,000 | 20,000 | 15,000 | 560,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 27,000 | 56,000 | 21,500 | 39,500 | 22,500 | 38,500 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 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 | 0 | 23,500 | 15,500 | 1,000 | 0 | 80,000 |
