In precious metals trading on Monday, silver gained while gold, platinum and palladium declined. Pricing changes in all but palladium were fairly modest.
Gold for December delivery slipped $2.20, or 0.1%, to settle at $1,654.10 an ounce on the Comex division of the New York Mercantile Exchange.
"The market is still in wait-and-see mode… what will the Fed signal as far as the weakness they’re seeing in the economy… that for the short term should be somewhat supportive for gold," Reuters quoted Edward Moya, senior analyst with OANDA.
But "inflation is a hard beast to kill. The Fed is going to take its time with these rate hikes before signalling that pivot."
Gold futures traded between $1,648 and $1,675.50. They climbed 0.5% last week.
Silver for December delivery added 12.3 cents, or 0.7%, to settle at $19.189 an ounce. Silver futures ranged from $18.98 to $19.68. They soared 5.5% last week.
In other precious metals prices on Monday:
-
January platinum declined $7.30 or 0.8%, to $926.60 an ounce, trading between $922.90 and $949.80.
- Palladium for December delivery fell $37.70, or 1.9%, to $1,967.80 an ounce, ranging from $1,960 to $2,064.50.
Last week, platinum jumped 4.4% and palladium edged up 0.4%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Monday. 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 | June | July | August | September | October | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 31,000 | 59,500 | 47,500 | 47,500 | 54,500 | 835,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 6,000 | 5,000 | 2,000 | 0 | 1,000 | 74,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 18,000 | 2,000 | 4,000 | 4,000 | 2,000 | 140,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 135,000 | 20,000 | 20,000 | 15,000 | 15,000 | 575,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 21,500 | 39,500 | 22,500 | 44,500 | 32,500 | 398,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 925,000 | 850,000 | 850,000 | 833,000 | 850,000 | 14,089,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 23,500 | 15,500 | 1,000 | 0 | 0 | 80,000 |
