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:
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|