Precious metals suffered heavy losses on Thursday, led by palladium which fell 5.6%. Gold lost the least, declining 1.7%, ending at a more than one-week low.
Gold for February delivery dropped $30.90 to settle at $1,787.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Dec. 6.
"The precious metals bulls were running for cover today amid sharp gains in the U.S. dollar index and in the aftermath the FOMC meeting that sees the Federal Reserve still leaning hawkish on U.S. monetary policy," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
The Federal Reserve on Wednesday raised its benchmark funds rate by 0.5% to a range of 4.25% to 4.5%.
Gold futures traded between $1,782 and $1,819.70. They shed 0.4% on Wednesday, they tacked on 1.9% on Tuesday, ending at their best level since June 24, and they fell 1% on Monday.
Silver for March delivery plunged 83.1 cents, or 3.4%, to end at $23.305 an ounce. The settlement was the weakest since Dec. 8. Silver futures ranged from $23.15 and $24.18. They rose 0.6% on Wednesday, for their highest finish since April 22, they surged 2.5% on Tuesday, and they declined 1.3% on Monday.
In other precious metals prices on Thursday:
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January platinum gave back $25.50, or 2.5%, to $1,013.20 an ounce, trading between $1,010.60 and $1,039.40.
- Palladium for March delivery sank $108.50 to $1,813.60 an ounce, ranging from $1,763 to $1,927.
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) | |||||||
|---|---|---|---|---|---|---|---|
| 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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