Gold Prices Near Unchanged Thursday, Sept. 29

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In precious metals trading Thursday, palladium recorded a solid gain while gold, silver and platinum posted modest losses.

Gold for December delivery dipped $1.40, or 0.08%, to settle at $1,668.60 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures traded between $1,649.30 and $1,673.10.

"The yellow metal has erased its early losses as is seeing some safe-haven buying the U.S. stock market is melting down again and risk aversion is on the rise, amid shaky currency and bond markets. Also, daily bullish elements for the precious metals include a slight drop in the U.S. dollar index and in Treasury yields at midday," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold prices gained 2.1% on Wednesday, they rose 0.2% on Tuesday and they gave back 1.3% on Monday, marking their lowest settlement since April 1, 2020.

Declining for the fourth time in five sessions, silver for December delivery fell 16.8 cents, or 0.9%, to settle at $18.712 an ounce. Silver futures ranged from $18.46 to $18.92. They jumped 3% on Wednesday, they slipped 0.8% on Tuesday, for their weakest close since Sept. 7, and they fell 2.3% on Monday.

In other precious metals futures prices on Thursday:

  • Down for the sixth time in seven sessions, January platinum shed 60 cents, or 0.07%, to $860.20 an ounce, trading between $840.60 and $868.40.

  • Palladium for December delivery advanced $42, or 1.9%, to $2,211.10 an ounce, ranging from $2,117 to $2,260.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Thursday. 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)
Thursday / 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

 

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Antonio

In case anyone is interested. The first coin to feature King Charles III.

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Antonio

If 5 Pounds is too much.

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Kaiser Wilhelm

These releases are more than a little bit of a surprise to me. I thought for sure the word was that no Charles III coinage would be showing up in public until early next year.

Antonio

There you have it. Starting Monday, coins will be available from the Royal Mint. This weekend, £20 and £50 notes will be withdrawn from circulation. Next year, coins from 1p to £2 will start to appear for sale and in circulation. No word yet on £5 and £10 notes.

Kaiser Wilhelm

Well, Antonio, you must have much better access to the railroad tracks as you are clearly able to put your ear to them long before I can. 😉

Last edited 2 months ago by Kaiser Wilhelm
Kaiser Wilhelm

Holy cowbells! Palladium has extended its “lead” over gold to just shy of $500 per ounce.

Rich

More cowbell, please.

Antonio

We need more cowbell, we gotta have more cowbell!

Kaiser Wilhelm

One of the greatest skits in the history of Saturday Night Live, with the incomparable Christopher Walken in a performance only he could pull off.

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