Gold Returns to $1,800 and Logs Third Gain

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Precious metals finished higher, across-the-board, for a second straight session Thursday. Gold’s increase was its third in a row. The yellow metal ended above $1,800 an ounce for the first time since Friday.

Gold for February delivery tacked on $3.50, or 0.2%, to settle at $1,801.50 an ounce on the Comex division of the New York Mercantile Exchange.

"The precious metals are being supported by a lower U.S. dollar index and firmer crude oil prices on this day. Bullish charts are also inviting the technical traders to the long sides of the gold and silver markets,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,793.20 and $1,806.90. They climbed 0.9% on Wednesday, they edged up 0.06% on Tuesday, and they fell 1.6% on Monday.

Silver for March delivery settled up 32.4 cents, or 1.4%, to $23.246 an ounce. Silver futures ranged from $22.72 and $23.43. They jumped 2.6% on Wednesday, they shed 0.4% on Tuesday, and they dropped 3.6% on Monday.

In other precious metals prices on Thursday:

  • January platinum rose $3.10, or 0.3%, to $1,014.60 an ounce, trading between $1,005.60 and $1,021.60.

  • Palladium for March delivery soared $76.50, or 4.1%, to $1,930.80 an ounce, ranging from $1,842 to $1,945.

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)
Thursday / 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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Antonio

Time to sell!

Kaiser Wilhelm

Over my occasionally somewhat moribund body!