Gold and Silver Decline on Wed., Oct. 5

5

Precious metals declined on Wednesday following two days of across-the-board gains. Their losses ranged from 0.6% for gold to 3.2% for palladium.

Gold for December delivery shed $9.70 to settle at $1,720.80 an ounce on the Comex division of the New York Mercantile Exchange.

"We’re seeing a resurgence in the dollar and yields, as a result, we’ve seen a pullback in gold after a pretty aggressive move higher over the course of the last several sessions," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures traded between $1,708.80 and $1,736.60. They rose 1.7% on Tuesday, for the highest finish since Sept. 12, and they moved up 1.8% on Monday.

Silver for December delivery fell 55.5 cents, or 2.6%, to settle at $20.544 an ounce. Silver futures ranged from $19.98 to $21.14. They surged 2.5% on Tuesday, for their best settlement since June 27, and they soared 8.1% on Monday.

In PGM futures on Wednesday:

  • January platinum lost $19.10, or 2.1%, to $914.60 an ounce, ranging from $903.10 to $940.

  • Palladium for December delivery tumbled $74.30 to $2,255.90 an ounce, trading between $2,202 and $2,339.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Wednesday. 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)
Wednesday / This Week Last Week May June July August September 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 164,500 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 0 50,000 135,000 20,000 20,000 15,000 560,000
$50 American Buffalo 1 Oz Gold Coin 0 0 56,000 21,500 39,500 22,500 38,500 360,000
$1 American Eagle 1 Oz Silver Coin 0 0 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

 

Subscribe
Notify of
guest

5 Comments
Inline Feedbacks
View all comments
Antonio

Agh, profiteers. Just when our hopes rise, they have to dash them.

Rich

The Battle of 1700 continues.

Kaiser Wilhelm

The dollar and retail prices are again on the upswing while stocks and precious metals resume their slide. The rule of negative correlation refuses to be denied.

OIP.jpg
Antonio

Good one!

Kaiser Wilhelm

Thanks, Antonio. Always more than happy to oblige!