Gold and Silver Score Multi-month Highs

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Platinum finished lower on Monday while gold, silver and palladium gained. Silver notched its best finish in five-and-a-half months and gold logged its top close in three months.

Gold for December rose $7.50, or 0.4%, to settle at $1,776.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 16.

"Bullish traders stepped in to buy the early price weakness today. However, gains in the precious metals were limited by a rebound in the U.S. dollar index and rising U.S. Treasury yields to start the trading week," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,755.80 and $1,778.40. They gained 5.5% last week.

Silver for December delivery tacked on 44.60 cents, or 2.1%, to settle at $22.113 an ounce. The settlement was the highest since June 2. Silver futures traded between $21.37 and $22.19. They advanced 4.3% last week.

In other precious metals prices on Monday:

  • January platinum lost $5.10, or 0.5%, to $1,033 an ounce, ranging from $1,013.60 to $1,049.20.

  • Palladium for December delivery rose $13, or 0.6%, to $2,039.50 an ounce, trading between $1,951.50 and $2,045.

Last week, platinum surged 8.1% and palladium soared 10.2%.

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)
Monday / 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
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Antonio

Yay! Precious metals are looking good today, so far.

Dazed and Coinfused

If this keeps up, the mint will have to start making silver eagles out of copper. And mad Mike Mezak will have to allow 7 flex pays or 24 months no interest on his TV pitches

Kaiser Wilhelm

Not to mention the use of fool’s gold, play platinum and genuine imitation palladium. By the way, I think I’ll alternate Caffeine Mike with Mad Mike (Mezack) going forward.

Antonio

Caffeine? Mad? Sounds like a Monday morning.

monday-morning-face.jpg
Kaiser Wilhelm

I like that one a lot, Antonio. Kudos on the clever text/meme juxtaposition.

Kaiser Wilhelm

By the way, Antonio, I have an exemption from that stressful Monday morning “I have to go to work feeling” thanks to every day being one of glorious leisure as a consequence of (twenty-two years of) retirement.

Last edited 20 days ago by Kaiser Wilhelm
Antonio

Must get boring. You don’t happen to have an “I’m Retired” fishing hat do you?

Kaiser Wilhelm

Here’s the thing, Antonio; I don’t even know what boring means. I’ve experienced a lot of different states of existence over 75 years, some uplifting and some depressing, but boredom has never been one of them. I’m what one would call a self-starter; I in no way depend on outside forces to make my life interesting as I have always possessed more than enough inner drive for that to take care of itself. My only “problem”, if it can even be considered as such, is that I never seem to have enough time to do everything.

Last edited 20 days ago by Kaiser Wilhelm