Precious metals divided Wednesday with platinum and palladium extending gains while gold and silver retreated some from their sharp, prior-day increases which tagged them near 14-month and 7-month settlement highs.
Gold for April delivery gave back $21.50, or 1.1%, to settle at $1,922.30 an ounce on the Comex division of the New York Mercantile Exchange.
“We’re seeing a more of a technically motivated pullback as there is a bit of a lesser need for safe havens. We’ve seen equity markets stabilize,” Reuters quoted David Meger, director of metals trading at High Ridge Futures.
Gold futures traded between $1,916 and $1,951.40. They jumped 2.3% on Tuesday, for their highest settlement since Jan. 5, 2021, and they rose 0.7% on Monday.
Silver for May delivery shed 35.1 cents, or 1.4%, to settle at $25.19 an ounce. Silver futures ranged from $24.96 to $25.55. They soared 4.8% on Tuesday, for their best close since Aug. 3, and they climbed 1.5% on Monday.
In PGM futures on Wednesday:
- April platinum added $16.10, or 1.5%, to $1,068 an ounce, trading between $1,051.70 and $1,078.
- Palladium for June delivery rallied $127.10, or 5%, to $2,664.90 an ounce, ranging from $2,550 to $2,671.
US Mint Bullion Sales in 2022
Published U.S. Mint bullion sales were unchanged Wednesday. 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)|
|Wednesday / 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|