Gold Tops $1,800 in December Start; Silver Jumps Toward $23

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Precious metals rallied in their start to the new trading month of December. Advances ranged from 1.5% for platinum to 4.9% for silver. The latter marked its best finish in seven months. Gold, meanwhile, ended at its highest price in nearly four months.

Adding to gains from November, gold for February delivery jumped $55.30 to settle at $1,815.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 12.

"A slumping U.S. dollar index, higher crude oil prices and falling U.S. Treasury yields on this day are all boosting the precious metals markets. A dovish lean by the U.S. central bank is also fueling the metals markets bulls today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,782.90 and $1,818.40.

Silver for March delivery soared $1.06 to settle at $22.841 an ounce. The settlement was the highest since April 29. Silver prices ranged from $22.24 to $23.

In other precious metals prices on Thursday:

  • January platinum rose $15.60 to $1,054.90 an ounce, trading between $1,037.80 and $1,066.80.

  • Palladium for March delivery surged $80.30, or 4.3%, to $1,946.30 an ounce, ranging from $1,863 to $1,955.

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)
Thursday / This Week / Dec. 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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Kaiser Wilhelm

All the precious metals are suddenly behaving like fireworks, going up, up, and up!

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Antonio

In the voice of Optimus Prime.

Kaiser Wilhelm

As is so typically the case, Antonio, at the top of your game. No flies on that guy!