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 |
We should be thankful, gold edged up fifty cents and silver one cent. What heady times we live in!
I’m so excited, I’m already making all kinds of plans as to what to do with that one cent!