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:
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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/
