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 |
Agh, profiteers. Just when our hopes rise, they have to dash them.
The Battle of 1700 continues.
Good one!