Gold Inches Up for First Gain in Six Sessions

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Precious metals registered modest gains on Tuesday, led by a 0.9% increase in silver. Gold’s advance was its first in six sessions.

Gold for December edged up 30 cents, or 0.02%. to settle at $1,739.90 an ounce on the Comex division of the New York Mercantile Exchange.

"The metals [gold and silver] are getting a slight lift from a lower U.S. dollar index and higher crude oil prices on this day. U.S. Treasury yields have down-ticked today and that’s also limiting selling interest in the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,737.90 and $1,751. They lost 0.8% on Monday, ending at their lowest price since Nov. 9.

Silver for December delivery rose 17.7 cents to settle at $21.049 an ounce. Silver futures ranged from $20.86 to $21.37. They gave back 0.6% on Monday, logging their weakest close since Nov. 4.

In other precious metals prices Tuesday:

  • January platinum added $7.80, or 0.8%, to $995.70 an ounce, trading between $989.10 and $1,007.60.

  • Palladium for December delivery added $4.50, or 0.2%, to $1,857.50 an ounce, ranging from $1,845 to $1,893.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on Tuesday. On Monday, they showed the first gains for the month. 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 July August September October November / This Week 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 59,500 47,500 47,500 59,500 6,000 846,000
$25 American Eagle 1/2 Oz Gold Coin 0 5,000 2,000 0 2,000 0 75,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 4,000 4,000 2,000 0 140,000
$5 American Eagle 1/10 Oz Gold Coin 0 20,000 20,000 15,000 15,000 0 575,000
$50 American Buffalo 1 Oz Gold Coin 0 39,500 22,500 44,500 39,500 4,500 410,000
$1 American Eagle 1 Oz Silver Coin 0 850,000 850,000 833,000 1,258,000 1,407,000 15,904,500
$100 American Eagle 1 Oz Platinum Coin 0 15,500 1,000 0 0 0 80,000
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