Precious metals kicked off the new trading month on Tuesday with solid gains for platinum and palladium and very sharp increases for gold and silver. Silver closed near a 7-month high while gold ended near a 14-month high.

Gold for April delivery increased $43.10, or 2.3%, to settle at $1,943.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Jan. 5, 2021, when gold ended at $1,954.40 an ounce.

“More safe-haven demand amid a very spooked marketplace is featured as the Russia-Ukraine geopolitical situation appears to be deteriorating by the day,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,903 and $1,945.50. They rose 0.7% on Monday, advancing their gain in February to 5.8%.

Silver for May delivery soared $1.18, or 4.8%, to settle at $25.541 an ounce. The close was the best since Aug. 3 when silver finished at $25.582 an ounce. Silver futures ranged from $24.34 to $25.65. They climbed 1.5% on Monday, marking a February increase of 8.8%.

In other precious metals prices on Tuesday:

  • April platinum added $13.20, or 1.3%, to $1,051.90 an ounce, trading between $1,041 and $1,066.50.
  • Palladium for June delivery added $33.20, or 1.3%, to $2,537.80 an ounce, ranging from $2,481 to $2,718.

US Mint Bullion Sales in 2022

Published U.S. Mint bullion sales were unchanged Tuesday. 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 / MarchLast WeekThis WeekJanuaryFebruary2022 Sales
$50 American Eagle 1 Oz Gold Coin035,50019,000123,50086,000209,500
$25 American Eagle 1/2 Oz Gold Coin00045,000045,000
$10 American Eagle 1/4 Oz Gold Coin02,000064,0004,00068,000
$5 American Eagle 1/10 Oz Gold Coin010,0000195,00025,000220,000
$50 American Buffalo 1 Oz Gold Coin010,0004,50061,50026,50088,000
$1 American Eagle 1 Oz Silver Coin0519,50005,001,0001,500,0006,501,000
$100 American Eagle 1 Oz Platinum Coin025,8000N/A25,80025,800
$25 American Eagle 1 Oz Palladium Coin000000
Tuskegee Airmen 5 oz Silver Coin000000

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