On Tuesday, precious metals advanced together, with gains ranging from 0.6% for gold to 5.3% for palladium. Increases in gold and silver were their first in three sessions.
Gold for June delivery rose by $12.70 to settle at $2,019.70 an ounce on the Comex division of the New York Mercantile Exchange
"Gold and silver prices are are solidly higher in midday U.S. trading Tuesday, on corrective bounces and some perceived value buying following recent selling pressure. A lower U.S. dollar index and a dip in U.S. Treasury yields on this day also favor the metals market bulls," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
After dropping 0.4% on Monday, gold futures traded between $2,003.30 and $2,024.60. On Thursday, gold had reached its highest level since August 6, 2020, finishing at $2,055.30 per ounce.
Meanwhile, silver for May delivery rebounded by 17.5 cents, or 0.7%, to settle at $25.263 an ounce, after a 1.5% decline on Monday. Silver futures ranged from $25.03 to $25.43. On Thursday, silver ended at $25.925 an ounce, its highest closing price since April 18, 2022.
In other precious metals prices on Tuesday:
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July platinum jumped $37.70, or 3.6%, to $1,097.30 an ounce, trading between $1,059.70 and $1,101.90.
- Palladium for June delivery soared $82.40 to $1,642.90 an ounce, ranging from $1,562 to $1,649.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales were unchanged on Tuesday. 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 / This Week | Last Week | January Sales | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 56,500 | 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 | 0 | 10,000 | 115,000 | 85,000 | 10,000 | 30,000 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 25,500 | 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 |
Ah the Space X didn’t take off as planned. Maybe that’s the case with palladium as well. There’s still gold pressed latinum. It’s holding its value throughout the galaxy, at least in the Alpha Quadrant.