Gold Dips as Silver Extends Gains to Sixth Straight


In precious metals Thursday, prices for gold and palladium declined while those for silver and platinum climbed — modestly. Silver’s increase was its sixth in a row.

Down following two straight gains, gold for December delivery dipped $3.60, or 0.2%, to settle at $1,665.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, the gold futures bears have the firm overall near-term technical advantage. However, more price gains in the near term would form a bullish double-bottom reversal pattern on the daily bar chart, to suggest a market bottom is in place. Bulls’ next upside price objective is to produce a close above solid resistance at $1,700.00,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,658.50 and $1,674.80. They advanced 0.7% on Wednesday, for their best finish since Oct. 13, they edged up 0.2% on Tuesday, and they slipped 0.1% on Monday.

Silver for December delivery inched up 0.8 cents, or 0.04%, to close at $19.494 an ounce. The settlement was the highest since Oct. 10. Silver futures ranged from $19.25 to $19.66. They added 0.7% on Wednesday, rose 0.8% on Tuesday and they gained 0.7% on Monday.

In other precious metals prices on Thursday:

  • January platinum gained $4.90, or 0.5%, to $967.40 an ounce, trading between $948.30 and $974.10.

  • Palladium for December delivery fell $22.30, or 1.1%, to $1,938.20 an ounce, ranging from $1,904 to $1,992.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Thursday. 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)
Thursday 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
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Gold, gold. All I care about is Gold Buffaloes.


Antonio, I didn’t know you were a Gold Buff. I thought you were a Sovereign Man.

Last edited 1 year ago by Rich

I’ve been called a Renaissance Man.

James Whitman

PM prices way under valued….go gold go silver

East Coast Guru

It looks like my prior post didn’t get saved. My question was has anyone seen increased silver prices bleed from the ASE’s over to the less expensive silver bullion such as Maples, Brit‘s, Phil’s, etc? It seems like everything is going up but spot is flat. Or am I just seeing things?

Last edited 1 year ago by East Coast Guru
Dazed and Coinfused

I understand royal mint and us mint under scrutiny for their metals sales. I think the ase are trusted so usually have spot plus a high premium. The maple and Freddy Krueger rand are also popular but slightly cheaper. Interesting is also how the strong dollar bringing down other currencies is playing a role in values. Silver was up yesterday but moves are small. Metals seem opposite of gas. Gas price goes up and takes forever to decline when market prices reduce, but metals barely move up on good news, but falls fast on negative. I think it may just… Read more »