Gold and Silver Rise Modestly on Monday, Jan. 10


Precious metals split in their start to the new trading day on Monday with gold and silver rising and platinum and palladium falling.

Gold for February delivery climbed $1.40, or 0.08%, to settle at $1,798.80 an ounce on the Comex division of the New York Mercantile Exchange.

“Technically, February gold futures bulls and bears are on a level overall near-term technical playing field amid recent choppy trading. Bulls’ next upside price objective is to produce a close above solid resistance at the January high of $1,833.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the December low of $1,753.00,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,789.30 to a high of $1,802. They declined 1.7% last week.

Silver for March delivery rose 5.3 cents, or 0.2%, to settle at $22.462 an ounce. Silver futures traded between $22.20 and $22.54. They dropped 4% last week.

In other precious metals prices on Monday:

  • April platinum gave back $22.90, or 2.4%, to $933.60 an ounce, ranging from $919.50 to $961.40.

  • Palladium for March delivery declined $12.40, or 0.7%, to $1,909.20 an ounce, trading between $1,886.50 and $1,964.

Last week platinum lost 1% while palladium rose 0.5%.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales increased Monday by 500,000 ounces in silver coins and a combined 37,000 ounces in gold coins.

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)
Monday Last Week December 2021 Sales 2022 Sales
$50 American Eagle 1 Oz Gold Coin 14,000 73,500 41,000 1,115,500 87,500
$25 American Eagle 1/2 Oz Gold Coin 18,000 26,000 1,000 95,000 44,000
$10 American Eagle 1/4 Oz Gold Coin 14,000 38,000 2,000 162,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 35,000 115,000 0 490,000 150,000
$50 American Buffalo 1 Oz Gold Coin 7,000 35,000 10,500 350,500 42,000
$1 American Eagle 1 Oz Silver Coin 500,000 3,001,000 0 28,275,000 3,501,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 75,000 0
$25 American Eagle 1 Oz Palladium Coin 0 0 0 8,700 0
Tuskegee Airmen 5 oz Silver Coin 0 0 0 52,900 0

 



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Deb Morgan has been a coin collector since she was young. She loves researching and reporting news about the numismatic community, and also about bullion coins, including silver, gold, platinum and palladium.

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