Prices for precious metals ended mixed on the final trading day of 2022 and ahead of a long holiday weekend with markets closed on Monday for the New Year’s holiday. Gold ended the day at a six-month high, although the yellow metal finished a smidgen lower for 2022.
On Friday, gold for February delivery rose 20 cents, or 0.01%, to settle at $1,826.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s best since Jun 24.
Gold prices scored gains of 1.2% for the week, 3.8% for the month, and 9.2% for the fourth quarter, but dipped 0.1% on the year.
Elsewhere, silver for March delivery shed 21 cents, or 0.9%, to finish at $24.04 an ounce, trimming its weekly, monthly, quarterly and annual gains to 0.5%; 10.4%; 26.3%; and 3%.
April platinum advanced $17.90, or 1.7%, to end at $1,082.90 an ounce, driving higher its weekly, monthly, quarterly and 2022 gains to 5.2%; 4.2%; 26.1%; and 12.1%.
Palladium, meanwhile, was a big loser except for the week. On Friday, palladium for March delivery gave back $18.40, or 1%, to settle at $1,798 an ounce, slimming its weekly increase to 3.8%. For the month, quarter and annual periods, the metal posted losses of 3.6%, 17.6%, and 6%.
US Mint Bullion Sales in 2022
Representing their first published increases since Nov. 21, the United States Mint on Thursday updated bullion sales with gains of 4,000 ounces in American Gold Eagles and 59,000 ounces in American Silver Eagles. No changes were published on Friday.
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) | |||||||
|---|---|---|---|---|---|---|---|
| July | August | September | October | November | December | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 59,500 | 47,500 | 47,500 | 59,500 | 6,000 | 4,000 | 850,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 5,000 | 2,000 | 0 | 2,000 | 0 | 0 | 75,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 4,000 | 4,000 | 2,000 | 0 | 0 | 140,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 20,000 | 20,000 | 15,000 | 15,000 | 0 | 0 | 575,000 |
| $50 American Buffalo 1 Oz Gold Coin | 39,500 | 22,500 | 44,500 | 39,500 | 4,500 | 0 | 410,000 |
| $1 American Eagle 1 Oz Silver Coin | 850,000 | 850,000 | 833,000 | 1,258,000 | 1,407,000 | 59,000 | 15,963,500 |
| $100 American Eagle 1 Oz Platinum Coin | 15,500 | 1,000 | 0 | 0 | 0 | 0 | 80,000 |
Tell me, what’s palladium again?
Palladium is named after the asteroid Pallas, in turn named after the Greek goddess of wisdom, Pallas.