Precious metals scored third straight session gains on Tuesday, with increases ranging from 1.9% for palladium to 2.8% for silver. Silver ended near a 20-week high while gold closed by a 5-week high.
Gold for December gained $35.50, or 2.1%, to settle at $1,716 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Oct. 6.
"The precious metals are benefitting from heavy short covering in the futures markets, perceived bargain hunting in the cash markets, and even some safe-haven demand as the crypto currency markets are selling off,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,667.10 and $1,720.40. They climbed 0.2% on Monday. As recently as Thursday, gold at $1,630.90 an ounce marked its lowest price since April 1, 2020.
Silver for December delivery jumped 58.3 cents to close at $21.502 an ounce. The settlement was silver’s best since June 21. Silver futures traded between $20.57 and $21.72. They rose 0.7% on Monday.
In other precious metals prices on Tuesday:
January platinum added $25.10, or 2.5%, to $1,014.50 an ounce, ranging from $979.10 to $1,015.80.
- Palladium for December delivery added $35.10 to $1,932.60 an ounce, trading between $1,847.50 and $1,937.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales have been unchanged for the month so far. 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|