Gold, Silver and Palladium Decline on Thursday, March 16


In precious metals trading Thursday, platinum’s price increased while prices for gold, silver and palladium declined.

Falling from a six-week high, gold for April delivery gave back $8.30, or 0.4%, to settle at $1,923 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices are weaker in midday early U.S. trading Thursday, on profit-taking and corrective pullbacks after both metals scored five-week highs Wednesday. Veteran market watchers would deem the pauses as being actually healthy for the fledling price uptrends in gold and silver to continue,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note

Gold futures traded between $1,911.50 and $1,938. They tacked on 1.1% on Wednesday, registering their highest finish since Feb. 1, they shed 0.3% on Tuesday, and they gained 2.5% on Monday.

Silver for May delivery slipped 19 cents, or 0.9%, to close at $21.692 an ounce. Silver futures ranged from $21.59 to $22.21. They fell 0.7% on Wednesday, they rose 0.5% on Tuesday, registering their highest close since Feb. 10, and they soared 6.9% on Monday.

In other precious metals prices on Thursday:

  • April platinum rose $6.80, or 0.7%, to $977.10 an ounce, trading between $965.10 and $983.90.

  • Palladium for June delivery declined $35.50, or 2.5%, to $1,409.30 an ounce, ranging from $1,403.50 to $1,470.50.

US Mint Bullion Sales in 2023

Published United States Mint bullion sales were unchanged on Thursday. 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 Last Week This Week January Sales February March 2023 Sales
$50 American Eagle 1 Oz Gold Coin 0 10,500 39,500 118,000 41,500 50,000 209,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 37,000 8,000 1,000 46,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 8,000 62,000 12,000 10,000 84,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 0 115,000 85,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 0 4,500 14,500 59,000 19,500 19,000 97,500
$1 American Eagle 1 Oz Silver Coin 0 450,000 0 3,949,000 900,000 450,000 5,299,000
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fyi gold tipped over $2000 (and then promptly fell back below) just a few minutes ago (note i’m looking at the front primary futures contract, not spot). a bunch of the further out contracts are well over $2000 right now, so the indication is for gold spot to climb a bit more. but of course, futures data is only accurate when you look at it, it doesn’t really predict the actual future all that well.

poor palladium, down in the dumps, on the plus side maybe that means catalytic converter thieves won’t get as much and they’ll stop stealing them

Dazed and Coinfused

I hear crime pays well, if it were a country I think I remember it being ranked 2nd behind US. But California is 6th if it were a separate country. Life is one big ponzi scheme.


I purchased exactly 1 palladium coin, just because I thought it would be cool to have one of each metal the mint used for coins (the other metals being fairly easy to get). not one of each type of finish, not one for each mint mark, not one for every year, just one single solitary palladium coin was fine for me. sure, when palladium shot up over $2000/oz I was tempted to sell it and make a profit, but then I would have zero palladium coins, so I didn’t.

Dazed and Coinfused

Imagine gold’s peak when the people around the world all make a run on the banks. In cases like this. I’ll wait for prices to drop and then buy a slabbed mad mike special for less. Plus free oak box and because so many send coins to grade they pay for his grading. I gold oz from mint, I’d bet probably $3250. I wouldn’t hold paper too long. There’s 99 more people doing the same thing in line ahead of ya.