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 / March | Last Week | This Week | January | February | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 35,500 | 19,000 | 123,500 | 86,000 | 209,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 45,000 | 0 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 64,000 | 4,000 | 68,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 0 | 195,000 | 25,000 | 220,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 10,000 | 4,500 | 61,500 | 26,500 | 88,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 519,500 | 0 | 5,001,000 | 1,500,000 | 6,501,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 25,800 | 0 | N/A | 25,800 | 25,800 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 |