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|