Precious metals notched gains on Wednesday that ranged from 0.7% for both gold and silver to 4.7% for platinum. Silver’s increase was its fifth in a row.
Higher for a second straight session, gold for December delivery advanced $11.20 to settle at $1,669.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Oct. 13.
"The key outside markets are working in favor of the precious metals bulls at mid-week, as the U.S. dollar index is sharply lower, U.S. Treasury yields are lower and crude oil prices are higher,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,653.80 and $1,679.40. They edged up 0.2% on Tuesday and they slipped 0.1% on Monday.
Silver for December delivery added 13.7 cents to end at $19.486 an ounce. The close was the highest since Oct. 11. Silver futures ranged from $19.18 to $19.77. They rose 0.8% on Tuesday and they gained 0.7% on Monday.
In PGM futures on Wednesday:
-
January platinum jumped $42.80 to $962.50 an ounce, trading between $915.80 and $965.10.
- Palladium for December delivery gained $41.70, or 2.2%, to $1,960.50 an ounce, ranging from $1,922.50 to $1,973.50.
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 | 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 |
Sir Kaiser, not sure if this helps, but… The standard, traditional order of value of the four precious metals, from the most valuable to least valuable, has been platinum, gold, palladium, silver. Considering these relative values, the Mint established the face of $50 for the one ounce Gold Eagles and $1 for the one ounce Silver Eagles first minted in 1986, $100 for the one ounce Platinum Eagles first minted in 1997, and $25 for the Palladium Eagles first minted in 2017. Using the 1 ounce AGE face value of $50 (the approximate book value of the Government’s gold in… Read more »