Gold Ends at 3-Month Low; Silver Marks Over 21-Month Low


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

 



Source

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.

Leave a Reply

Your email address will not be published.