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 |
