Precious metals split on Tuesday with gold and palladium rising and silver and platinum falling. Silver and platinum ended at about three-week lows. Gold’s gain was its first in three sessions and follows its nearly two-and-a-half-year low on Monday
Gold for December delivery rose $2.80, or 0.2%, to settle at $1,636.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Today is just a little bit of a recovery after some of the extreme weakness seen over recent days … but I don’t think there’s really any fundamental change taking place in the gold market," Reuters quoted Ryan McKay, commodity strategist at TD Securities.
Gold futures traded between $1,628.70 and $1,650.10. They gave back 1.3% on Monday, marking their lowest settlement since April 1, 2020.
Silver for December delivery slipped 14.3 cents, or 0.8%, to finish at $18.337 an ounce. The close was silver’s lowest since it ended at $18.26 an ounce on Sept. 7. Silver futures ranged from $18.29 to $18.79. They fell 2.3% on Monday.
In other precious metals prices on Tuesday:
January platinum — the new, most-active contract — declined $5.20, or 0.6%, to $839.70 an ounce, trading between $838 and $858. The settlement was the metal’s worst since Sept. 6.
- Palladium for December delivery advanced $41.40, or 2%, to $2,090.40 an ounce, ranging from $2,023 to $2,130.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Tuesday. 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||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|