Gold Scores First Monthly Gain in Eight Months

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Most precious metals climbed on final trading day of November, and they all logged sharp gains for the month. Gold’s monthly increase was its first in eight months.

Slipping from a near two-week high, gold for February delivery dipped $3.80, or 0.2%. to settle at $1,759.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, February gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at the November high of $1,806.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,700.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold soared 7.3% in November following seven straight monthly declines that had cut its prices by a combined $313.30, or 16%. Still, gold prices are 3.8% lower on the year. On Tuesday, gold marked its highest settlement since Nov. 16.

Silver for March delivery tacked on 34.5 cents, or 1.6%, to close at $21.781 an ounce. Silver prices rallied 13.9% in November following gains of 0.4% in October and 6.5% in September. They are 6.7% lower on the year.

In PGM futures on Wednesday and for the month:

  • January platinum added $30.70, or 3%, to end at $1,039.30 an ounce, for a monthly increase of 11.7%.

  • Palladium for March delivery added $32.10, or 1.8%, to end at $1,866 an ounce, for a more modest gain of 1.9% in November.

The two are divided on the year so far with platinum 7.6% higher and palladium 2.4% lower.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales only changed once this month, rising on Nov. 21 with advances of 6,000 ounces in American Gold Eagles; 1,407,000 ounces in American Silver Eagles; and 4,500 ounces in American Gold Buffalos.

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 / This Week 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

Gold and silver are up. The happy days have returned.

Rich

Sir Kaiser, the American Eagle Silver One Ounce Proof Coin Subscription- San Francisco (S) is back available for ordering (Add to Bag) as of 4pm ET today (12/1/22). You mentioned that you were interested in getting an subscription enrollment order in for this coin. Good luck!