Gold Posts Fourth Gain and New 9-Month High

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Precious metals advanced on Tuesday, posting gains ranging from 0.4% for gold to 2% for palladium. Gold’s increase was a fourth straight. It also logged a new, over nine-month high.

Gold for February delivery rose $6.80 to settle at $1,935.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since it ended at $1,948.20 an ounce on April 21.

"Gold prices are modestly higher in choppy, two-sided trading at midday Tuesday, after hitting a nine-month peak overnight. The market is seeing some normal backing and filling on the charts today. Still, the technical posture for gold remains fully bullish," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,918.20 and $1,943.80. They edged 0.02% higher on Monday.

Silver for March delivery moved up 19.5 cents, or 0.8%, to settle $23.749 an ounce. Silver futures ranged from $23.31 and $23.88. They fell 1.6% on Monday.

In other precious metals prices on Tuesday:

  • April platinum added $10.50, or 1%, to $1,066.80 an ounce, trading between $1,050.70 and $1,068.80.

  • Palladium for March delivery gained $34.10 to $1,735.50 an ounce, ranging from $1,683 to $1,747.

US Mint Bullion Sales in 2023

Published United States Mint bullion sales were unchanged on Tuesday. 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 November December 2022 Sales Last Week This Week 2023 Sales
$50 American Eagle 1 Oz Gold Coin 0 6,000 4,000 850,000 11,000 3,500 104,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 75,000 1,000 0 35,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 140,000 2,000 0 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 575,000 0 0 115,000
$50 American Buffalo 1 Oz Gold Coin 0 4,500 0 410,000 500 9,000 53,500
$1 American Eagle 1 Oz Silver Coin 0 1,407,000 59,000 15,963,500 500,000 0 3,949,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 80,000 0 0 0
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Antonio

Gold is looking golden. 🙂

Kaiser Wilhelm

Goldilocks, Goldie Hawn, Goldfinger, Golden Earring, Gold Rush and Goldwater agree.

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Antonio

How about American Gold Eagle and Gold Buffalo?

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Kaiser Wilhelm

Not to mention Kaiser Wilhelm II Gold 20 Mark.

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Antonio

Sorry, I’m ‘Merican here.

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Kaiser Wilhelm

I’m extremely proud to be an American also, Antonio, but occasionally I find myself waxing just a bit nostalgic regarding my eighteen years overseas as an Austrian with German roots.