Gold Ends Near 2-Week High, Snapping 3-Session Losing Streak

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Prices for gold, silver and platinum climbed on Tuesday. Gold’s gain snapped a three-session losing streak. The yellow metal also ended near a two-week high.

Gold for February delivery — the new, most-active contract, rose $8.40, or 0.5%. to settle at $1,763.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 16.

"Some safe-haven demand has surfaced amid the civil unrest in China. The key ‘outside markets’ — the U.S. dollar index and crude oil — are in a bullish posture for gold and silver today as the USDX is a bit lower and crude oil prices are higher," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,752.90 and $1,773.40. They shed 0.8% on Monday.

Silver for March delivery bounced 31.1 cents, or 1.5%, to settle at $21.436 an ounce. Silver futures ranged from $21.06 to $21.64. They dropped 2.2% on Monday.

In other precious metals prices Tuesday:

  • January platinum added $9.30, or 0.9%, to $1,008.60 an ounce, trading between $995.40 and $1,018.50.

  • Palladium for March delivery declined $12.90, or 0.7%, to $1,833.90 an ounce, ranging from $1,811.50 to $1,884.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales have been unchanged this week. 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 / Last 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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Antonio

Today was a good day. Gold and silver are up.