Platinum and palladium declined on Thursday, for a second straight session, while gold and silver reclaimed a portion of their prior-day losses after news that U.S. inflation hit a fresh 40-year high.

Advancing for the fifth time in six sessions, gold for April delivery rose $12.20, or 0.6%, to end at $2,000.40 an ounce on the Comex division of the New York Mercantile Exchange.

“Gold and silver prices are higher in midday U.S. trading Thursday, on more safe-haven demand amid risk aversion that is still keen in the marketplace. Global stock markets and the U.S. stock indexes are still on shaky ground amid the biggest geopolitical crisis in decades that appears to be worsening. Some hot U.S. inflation data today was also bullish for the metals markets,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

The Labor Department reported Thursday that consumer prices rose 0.8% in February from 0.6% in January, boosting annual inflation to 7.9% for the biggest gain since January 1982.

For the day, gold futures ranged from $1,975 to $2,015.10. They dropped 2.7% on Wednesday, they jumped 2.4% on Tuesday to $2,043.30 an ounce for their highest settlement since Aug. 6, 2020, and they gained 1.5% on Monday.

Meanwhile, silver for May delivery advanced 44 cents, or 1.7% to settle at $26.256 an ounce. Silver futures traded between $25.60 and $26.43. They tumbled 4% on Wednesday, they soared 4.6% on Tuesday to $26.895 an ounce for their strongest finish since June 16, and they shed 0.3% on Monday.

In other precious metals prices on Thursday:

  • April platinum declined $12.40, or 1.1%, to $1,095.20 an ounce, ranging from $1,080.10 to $1,116.70.
  • Palladium for June delivery declined $29.30, or 1%, to $2,920.50 an ounce, trading between $2,850 and $2,975. On Friday, palladium posted a record settlement of $2,981.90.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales increased on Thursday by 118,000 ounces in silver coins; 4,000 ounces in platinum coins; and a combined 51,500 ounces in gold coins.

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)
ThursdayLast WeekThis WeekJanuaryFebruaryMarch2022 Sales
$50 American Eagle 1 Oz Gold Coin35,50027,50060,500123,50086,00069,000278,500
$25 American Eagle 1/2 Oz Gold Coin1,00001,00045,00001,00046,000
$10 American Eagle 1/4 Oz Gold Coin6,000012,00064,0004,00012,00080,000
$5 American Eagle 1/10 Oz Gold Coin25,000045,000195,00025,00045,000265,000
$50 American Buffalo 1 Oz Gold Coin11,50011,50022,00061,50028,50027,000117,000
$1 American Eagle 1 Oz Silver Coin118,0000600,0005,001,0001,500,000600,0007,101,000
$100 American Eagle 1 Oz Platinum Coin4,0004,7006,500N/A25,80011,20037,000
$25 American Eagle 1 Oz Palladium Coin0000000
Tuskegee Airmen 5 oz Silver Coin0000000

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