Gold Dips From 8-Month High on Tuesday, Jan. 10

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In precious metals Tuesday, palladium gained while gold, silver and platinum declined. Gold’s loss was its first in three sessions. The precious metal slipped from an 8-month high.

Gold for February delivery shed $1.30, or 0.07%, to settle at $1,876.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices are near steady and silver prices a bit weaker in midday U.S. trading Tuesday, on normal corrective pullbacks and consolidation following recent gains. A firmer U.S. dollar index and an uptick in U.S. Treasury yields were bearish outside market forces for the metals on this day," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,872 and $1,885.20. They rose 0.4% on Monday, ending at their highest price since May 6.

Silver for March delivery gave back 20.6 cents, or 0.9%, to settle at $23.665 an ounce. Silver futures ranged from $23.55 to $23.91. They dipped 0.5% on Monday.

In other precious metals futures Tuesday:

  • April platinum fell $10.10, or 0.9%, to $1,088.50 an ounce, ranging from $1,082.50 to $1,097.90.

  • Palladium for March delivery climbed $1.90, or 0.1%, to $1,777.30 an ounce, trading between $1,766 and $1,811.

US Mint Bullion Sales in 2023

Published United States Mint bullion sales last changed on Dec. 29. 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)
August September October November December 2022 Sales 2023 Sales
$50 American Eagle 1 Oz Gold Coin 47,500 47,500 59,500 6,000 4,000 850,000 0
$25 American Eagle 1/2 Oz Gold Coin 2,000 0 2,000 0 0 75,000 0
$10 American Eagle 1/4 Oz Gold Coin 4,000 4,000 2,000 0 0 140,000 0
$5 American Eagle 1/10 Oz Gold Coin 20,000 15,000 15,000 0 0 575,000 0
$50 American Buffalo 1 Oz Gold Coin 22,500 44,500 39,500 4,500 0 410,000 0
$1 American Eagle 1 Oz Silver Coin 850,000 833,000 1,258,000 1,407,000 59,000 15,963,500 0
$100 American Eagle 1 Oz Platinum Coin 1,000 0 0 0 0 80,000 0
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Kaiser Wilhelm

Some sort of temporary equilibrium seems to be in effect, as none of the precious metals either gained or lost much of any amount of note, with the possible exception of platinum and even that decline wasn’t drastic.