Precious Metals Rise Wednesday, Nov. 23

2

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
Subscribe
Notify of
guest

2 Comments
Inline Feedbacks
View all comments
Kaiser Wilhelm

It doesn’t matter if silver has the highest percentage increase of any of the precious metals on a given day since that still translates into the lowest dollar rise among them.

Kaiser Wilhelm

One of these days, Other Precious Metals, one of these days!