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|