In kicking off the new trading week on Monday, platinum rose slightly, palladium tumbled, and gold and silver declined more modestly.
Ending lower for a a fifth straight session, gold for December lost $14.80, or 0.8%. to settle at $1,739.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s weakest since Nov. 9.
"The metals [gold and silver] are feeling the heat of strong gains in the U.S. dollar index to start the trading week and a big drop in crude oil prices," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,733.90 and $1,755. They slipped 0.9% last week. Last Monday at $1,776.90 an ounce, gold marked its best finish since Aug. 16.
Silver for December delivery gave back 12.5 cents, or 0.6%, to close at $20.872 an ounce. The settlement was silver’s lowest since Nov. 4.
Silver futures ranged from $20.60 to $21.04. They declined 3.1% last week. Last Monday at $22.113 an ounce, the precious metal posted its highest finish since June 2.
In other precious metals prices on Monday:
January platinum rose $3.60, or 0.4%, to $987.90 an ounce, trading between $970.70 and $995.30.
- Palladium for December delivery sunk $85.90, or 4.4%, to $1,853 an ounce, ranging from $1,826.50 to $1,946.
Last week, platinum dropped 5.2% and palladium fell 4.3%.
US Mint Bullion Sales in 2022
On Monday, published United States Mint bullion sales changed for the first time this month. Advances included 6,000 ounces in American Gold Eagles; 1,407,000 ounces in American Silver Eagles; and 4,500 ounces in American Gold Buffalos.
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||6,000||31,000||59,500||47,500||47,500||59,500||846,000|
|$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||4,500||21,500||39,500||22,500||44,500||39,500||410,000|
|$1 American Eagle 1 Oz Silver Coin||1,407,000||925,000||850,000||850,000||833,000||1,258,000||15,904,500|
|$100 American Eagle 1 Oz Platinum Coin||0||23,500||15,500||1,000||0||0||80,000|