Platinum rose on Tuesday while gold, silver and palladium declined. Silver closed at a more than 21-month low. Gold, meanwhile, ended at a 3-month low.
Gold for June delivery settled down $17.60, or 1%, to $1,841 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since Feb. 10 when gold ended at $1,837.40 an ounce.
“Bearish outside markets today that saw a higher U.S. dollar index and lower crude oil prices helped to pressure the precious metals markets. Fully negative near-term technical charts are also fueling the bearish short-term speculative traders. The safe-haven metals have also been punished recently by rising bond yields,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.”The bulls remain perplexed that their metals are ignoring a wobbly U.S. stock market and elevated risk aversion in the overall marketplace due to a major war and rising inflation.”
Gold futures ranged from $1,838.70 to $1,864.70. They fell 1.3% on Monday.
Silver for July delivery lost 39.6 cents, or 1.8%, to close at $21.424 an ounce. The settlement was the lowest since silver ended at $20.192 an ounce on July 20, 2020. Silver futures traded between $21.38 and $22.09. They dropped 2.5% on Monday.
In other precious metals futures on Tuesday:
July platinum rose $8.70, or 0.9%, to $947.20 an ounce, ranging from $930.50 to $970.10.
- Palladium for June delivery declined $17.80, or 0.9%, to $2,043.70 an ounce, trading between $2,020 and $2,149.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased on Tuesday by 5,000 ounces in American Gold Eagles. 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 / This Week||Last Week||March||April||May||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||36,000||140,500||80,500||36,000||466,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||5,000||3,000||1,000||54,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||4,000||20,000||14,000||4,000||106,000|
|$5 American Eagle 1/10 Oz Gold Coin||50,000||0||75,000||25,000||50,000||370,000|
|$50 American Buffalo 1 Oz Gold Coin||0||16,500||64,500||27,500||16,500||198,500|
|$1 American Eagle 1 Oz Silver Coin||0||425,000||1,080,500||850,000||425,000||8,856,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||14,200||0||0||40,000|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||0||0|