Precious metals bounced Tuesday, recovering some, or in the case of silver, more than their prior-day losses. Silver’s gain lifted it to a near one-year high.
Gold for June delivery rose $15.20, or 0.8%, and settled at $2,019 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are higher in midday U.S. trading Tuesday, supported by chart-based buying amid bullish technicals. A weaker U.S. dollar index and higher crude oil prices are also bullish outside market elements for the metals on this day. Traders are awaiting the next major data point, which is a U.S. inflation report Wednesday morning," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $2,003.70 and $2,022.50, after falling 1.1% on Monday. Last Tuesday, gold ended at $2,038.20 an ounce, marking its best settlement since March 8, 2022.
Meanwhile, silver for May delivery tacked on 27.4 cents, or 1.1%, to end at $25.186 an ounce. The settlement is the highest since April 20, 2022. Silver futures traded within a range of $24.97 to $25.28, after slipping 0.7% on Monday.
In other precious metals prices on Tuesday:
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July platinum edged up $2.20, or 0.2%, to $1,005.10 an ounce, trading within a range of $1,000.60 to $1,018.60. Platinum fell by 1.4% on Monday.
- After tumbling 3.8% on Monday, palladium for June delivery bounced $36, or 2.6%, to $1,443.60 an ounce, with a trading range of $1,413.50 to $1,459.50.
US Mint Bullion Sales in 2023
Published sales figures from the U.S. Mint on Tuesday showed gains in bullion coins for the first time this week. Specifically, American Gold Eagles saw an increase totaling 57,500 ounces and American Gold Buffalos increased by 25,500 ounces.
U.S. Mint published bullion sales were unchanged on Monday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Tuesday / Week | Last Week | January Sales | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 56,500 | 53,500 | 118,000 | 41,500 | 211,000 | 74,500 | 445,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 37,000 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 62,000 | 12,000 | 10,000 | 10,000 | 94,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 10,000 | 0 | 115,000 | 85,000 | 10,000 | 30,000 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 25,500 | 15,500 | 59,000 | 19,500 | 73,000 | 35,000 | 186,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 3,949,000 | 900,000 | 900,000 | 450,000 | 6,199,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | N/A | 7,500 | 500 | 8,000 |
This could be the One Neo. Almost double over around 2018 price. Keep in mind SA part own credit suisse. They like shiny there. The oil has sheen. Or toned as we say our circle. Maybe the tea leaves are wrong. Maybe XRP really means xpect rising prices.
Ah, silver is back above $25 an ounce. Reminds me of the good ole days.
Perhaps CoinWeek could highlight the huge differences in premiums on the US Mint American Silver Eagles to the end consumer, of whom the products were actually intentioned vs what the AP’s/middlemen are paying? For example, here is a post I made on MNB re: said topic. So the AP’s buy the American Silver Eagles at a 9.37375% premium($2.35/coin over spot) and after only 1 “Major Middleman” being involved, the 2023 1 oz American Silver Eagle, a revenue generator for both the US Mint and Government, will cost the “public” just, a whopping 92.42% premium over spot. Yay, FUN, with numbers!… Read more »
CaliSkier, APMEX put a note in red letters at the top of its website main page last week that they have raised their minimum purchase to $250. In normal times they charge shipping fees for orders under $199, about $10. Modern Coin Mart put a note on their website that they have no minimum purchase amount, but for the first time in their history they are now, starting this year are charging shipping fees of $7.99 for orders under $199. They also no longer accept checks like they used to for a small discount price over using a credit/debit card.… Read more »
With respect to those silver planchets, per the Coin Act of 1985, American silver eagles are only to be produced with U.S. mined silver (most of the silver mined in the U.S. is from Alaska, Nevada and Idaho).
Yes Rich, but the U.S. Mint has made exceptions to the law for the gold, platinum & palladium American Eagle coins & purchased some precious metals from the Perth Mint Australia because of a loophole in the law. Plus, there is a major abundance of silver in the USA mines – just tour the Sunshine Mining Company in Coeur D’Alene, Idaho (and Sunshine Minting Company, its sister company & their modern Mint in Henderson, Nevada near Las Vegas – they control tons of silver & sometimes sells silver planchets to the U.S. Mint. Plus all the other mines in the… Read more »
Kaiser, There is a strange & very strong segment of coin collectors in the USA, believe it or not, who have a cult-like following for the ASE $1 bullion version coins in MS-70 grade from PCGS, NGC & ANACS who will pay major money for them, especially the early dated ones. Just look at a coin price guide that lists the MS-70 values. For example, 1986 (S) $1250, 1987 (S) $750, 1988 (S) $2200, 1989 (S or W) $700, 1990 (S or W) $15,000, and on & on…1993 (S or W) $15,000, 1994 (S or W) $6,000, 1996 (S or… Read more »