Precious metals posted heavy losses on Monday that ranged from 1.1% for palladium to 3.2% for silver. The settlements for gold, silver and platinum were their lowest since Sept. 30.
Gold for December delivery dropped $34.10, or 2%, to settled at $1,675.20 an ounce on the Comex division of the New York Mercantile Exchange.
"The safe-haven metals are being hit hard by a higher U.S. dollar index, rising U.S. Treasury yields and weaker crude oil prices to start the trading week. An aggressively tight monetary policy from the U.S. Federal Reserve is also serving as an anchor on the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,672.50 and $1,707.40. They gained 2.2% last week.
Silver for December delivery plunged 64 cents to settle at $19.615 an ounce. Silver futures ranged from $19.52 to $20.21. They soared 6.4% last week.
In other precious metals prices on Monday:
-
January platinum declined $22.10, or 2.4%, to $895.80 an ounce, trading between $893.20 and $916.
- Palladium for December delivery gave back $23.40 to $2,167.90 an ounce, ranging from $2,152 to $2,270. The finish was palladium’s lowest since Sept. 27.
Last week, platinum surged 6.8% while palladium inched 0.4% higher.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales have been unchanged this month. 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) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Monday | 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 |
