On Tuesday, precious metals started the new trading month of November with gains that ranged from 0.6% for gold to 2.9% for silver.
Snapping a three-session losing streak, gold for December delivery rose $9 to settle at $1,649.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are higher in midday U.S. trading Tuesday, but down from daily highs as the U.S. dollar index has rebounded from solid early losses. Falling U.S. Treasury yields on this day are supporting the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold future traded between $1,633.60 and $1,660.30. They dipped 0.3% on Monday, driving their October loss to 1.9%.
Ending higher for the first time in three sessions, silver for December delivery soared 54.8 cents to $19.667 an ounce. The settlement was the highest since Oct. 7. Silver futures ranged from $19.08 to $20.04. They slipped 0.2% on Monday, trimming their October increase to 0.4%.
In other precious metals prices on Tuesday:
January platinum added $20.40, or 2.2%, to $950.50 an ounce, trading between $930.80 and $963.
- Palladium for December delivery tacked on $45.30, or 2.5%, to $1,877 an ounce, ranging from $1,838 to $1,945.
US Mint Bullion Sales in 2022
On Tuesday, the United States Mint adjusted October bullion sales, increasing:
- American Buffalo gold coins to 39,500 from 32,500
- American Silver Eagles to 1,258,000 from 850,000
- American Eagle 1-ounce gold coins to 59,500 from 54,500
- American Eagle 1/2-ounce gold coins to 2,000 ounces from 1,000 ounces
No bullion sales additions were published for November.
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)|
|Tuesday / November||June||July||August||September||October||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||31,000||59,500||47,500||47,500||59,500||840,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||6,000||5,000||2,000||0||2,000||75,000|
|$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||39,500||405,500|
|$1 American Eagle 1 Oz Silver Coin||0||925,000||850,000||850,000||833,000||1,258,000||14,497,500|
|$100 American Eagle 1 Oz Platinum Coin||0||23,500||15,500||1,000||0||0||80,000|