Gold Edges Higher on Tuesday, Dec. 6

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Precious metals changed little Tuesday, aside from platinum which fell 1.2%. While modest, only gold scored a gain on the day.

Up for the first time in three sessions, gold for February delivery rose $1.10, or 0.06%, to settle at $1,782.40 an ounce on the Comex division of the New York Mercantile Exchange.

"The gold futures bulls have the overall near-term technical advantage. Prices are in a four-week-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at this week’s high of $1,822.90. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,733.50,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,779.10 and $1,793.20. They fell 1.6% on Monday.

Silver for March delivery shed 8.2 cents, or 0.4%, to settle at $22.335 an ounce. Silver futures ranged from $22.19 and $22.78. They dropped 3.6% on Monday.

In other precious metals prices on Tuesday:

  • January platinum gave back $12.10 to $995.40 an ounce, trading between $994.60 and $1,013.30.

  • Palladium for March delivery declined $9.80, or 0.5%, to $1,851.50 an ounce, ranging from $1,862.50 to $1,898.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales last changed on Nov. 21. 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 / December July August September October November 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

Is silver considered so minimally priced that its value is now measured in half cents?

Antonio

Gold is getting closer to $1,800 an ounce.

Last edited 1 month ago by Antonio
Kaiser Wilhelm

Just as a thought, Antonio, I’ve long been aware that at one time platinum had exceeded gold in value, but I recently discovered there was a stretch when the price of gold surpassed that of palladium before being left behind again. Things change.

Last edited 1 month ago by Kaiser Wilhelm