In their start to the new trading year on Tuesday — markets closed on Monday for the New Year’s holiday, palladium tumbled while gold, silver and platinum gained. Gold was the biggest daily winner, scoring a more than 6.5-month high.
Gold for February delivery tacked on $19.90, or 1.1%, to settle at $1,846.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since June 16.
“Safe-haven demand is featured to start the new year, along with technical buying amid bullish charts. Risk aversion is keener early this week as global stock markets remain wobbly amid concerns about weakening economic growth in 2023 for major industrialized countries,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,831.30 and $1,856.60. They climbed 1.2% last week, trimming their 2022 loss to just 0.1%.
Silver for March delivery rose 19.6 cents, or 0.8%, to end at $24.236 an ounce. Silver futures ranged from $24.09 to $24.78. They climbed 0.5% last week, lifting their 2022 gain to 3%.
In other precious metals prices on Tuesday:
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April platinum settled up $10.40, or 1%, to $1,093.30 an ounce, trading between $1,080.80 and $1,108.70.
- Palladium for March delivery plunged $105.10, or 5.9%, to $1,692.90 an ounce, ranging from $1,674 to $1,816.50.
Last year, platinum soared 12.1% while palladium dropped 6%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales last changed on Dec. 29. 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) | |||||||
|---|---|---|---|---|---|---|---|
| August | September | October | November | December | 2022 Sales | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 47,500 | 47,500 | 59,500 | 6,000 | 4,000 | 850,000 | 0 |
| $25 American Eagle 1/2 Oz Gold Coin | 2,000 | 0 | 2,000 | 0 | 0 | 75,000 | 0 |
| $10 American Eagle 1/4 Oz Gold Coin | 4,000 | 4,000 | 2,000 | 0 | 0 | 140,000 | 0 |
| $5 American Eagle 1/10 Oz Gold Coin | 20,000 | 15,000 | 15,000 | 0 | 0 | 575,000 | 0 |
| $50 American Buffalo 1 Oz Gold Coin | 22,500 | 44,500 | 39,500 | 4,500 | 0 | 410,000 | 0 |
| $1 American Eagle 1 Oz Silver Coin | 850,000 | 833,000 | 1,258,000 | 1,407,000 | 59,000 | 15,963,500 | 0 |
| $100 American Eagle 1 Oz Platinum Coin | 1,000 | 0 | 0 | 0 | 0 | 80,000 | 0 |