Precious metals settled higher on the last day of trading before Thanksgiving, posting increases ranging from 0.1% for palladium to 1.5% for silver. The metals added slightly to their gains in after-hours dealings when minutes from the Fed’s last policy meeting were released.
Rising for a second session following five straight losses, gold for December rose $5.70, or 0.3%. to close at $1,745.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold traded higher in a relief rally after the Fed minutes contained no hawkish surprises, and just about confirmed the pace of hikes would drop to 50 bps in December," Reuters quoted Tai Wong, a senior trader at Heraeus Precious Metals in New York.
Gold futures traded between $1,719 and $1,754.90. They inched 0.02% higher on Tuesday and they lost 0.8% on Monday, ending at their lowest price since Nov. 9.
Silver for December delivery advanced 31.8 cents to settle at $21.367 an ounce. Silver futures ranged from $20.92 to $21.63. They gained 0.9% on Tuesday and they gave back 0.6% on Monday, logging their weakest close since Nov. 4.
In PGM futures on Wednesday:
January platinum added $1.10 to $996.80 an ounce, trading between $984.30 and $1,010.50.
- Palladium for December delivery added $18.40, or 1%, to $1,875.90 an ounce, ranging from $1,856.50 to $1,898.50.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Wednesday. 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)|
|Wednesday||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|