Palladium closed at its best price since September 7th
Gold and silver prices fell on Wednesday while platinum and palladium rose. Palladium’s win was the seventh in a row. The metal also posted its highest settlement since early September.
gold for February, the supply lost $22.80 or 1.2% to end at $1,829.70 per ounce on the Comex division of the New York Mercantile Exchange.
“Bulls still have the short-term overall technical advantage. Prices are in a six week old uptrend on the daily bar chart. The bulls’ next target is a close above solid resistance at the November high of $1,881.90. Bears The next short-term price target on the downside is to push futures prices below solid technical support at $1,800.00,” said Jim Wyckoff, a senior analyst at Kitco Inc, in a daily research note.
Gold futures ranged from a low of $1,822.80 to a high of $1,850.20. They were up 0.6% on Tuesday, marking their best deal since November 18. Gold prices rose 0.5% on Monday.
silver 8.9 cents or 0.4% are charged for delivery in March $23,807 an ounce. Silver futures traded between $23.62 and $24.03. They gained 0.4% on Tuesday and lost 2.1% on Monday.
In PGM futures on Wednesday:
April platinum $20.40 or 2% added $1,045.90 per ounce, ranging from $1,024.40 to $1,064.60.
- palladium for March delivery rose by $161.70, or 7.4% $2,350.60 per ounce, which is trading between $2,173 and $2,380. The comparison was the highest since Sept. 7, when palladium ended at $2,353.50 an ounce.
“The geopolitical drama with Russia is raising serious concerns about future palladium supplies,” MarketWatch quoted Chris Blasi, President of Neptune Global as saying.
“A full-scale conflict with Russia would exacerbate an already critical supply problem in the palladium space” and likely “push palladium well past $4,000 an ounce,” he said.
US Mint Bullion Sales in 2022
The United States Mint’s published bullion sales were unchanged on Wednesday. Below is a breakdown of US Mint bullion product sales with columns detailing the number of coins sold over different time periods.
|US Mint Bullion Sales (number of coins)|
|Wednesday||Last week||In this week||December||Sale 2021||Sale 2022|
|$50 American Eagle 1 ounce gold coin||0||0||22,500||41,000||1,115,500||110,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||1,000||95,000||45,000|
|$10 American Eagle 1/4 oz gold coin||0||0||10,000||2,000||162,000||62,000|
|$5 American Eagle 1/10 oz gold coin||0||0||30,000||0||490,000||180,000|
|American Buffalo $50 1 ounce gold coin||0||0||11,000||10,500||350,500||53,000|
|$1 American Eagle 1 ounce silver coin||0||0||1,000,000||0||28,275,000||4,501,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||75,000||0|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||8,700||0|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||52,900||0|
Article Source : https://www.coinnews.net/2022/01/26/gold-retreats-palladium-scores-over-4-5-month-high/