Gold rallied on Monday to a more than one-and-a-half-year high while silver, platinum and palladium declined.
Gold for April delivery tacked on $29.30, or 1.5%, to settle at $1,995.90 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since Aug. 18, 2020, when gold ended at $2,013.10 an ounce.
“Gold remains an attractive asset to own beyond the geopolitical issues currently dominating the headlines, as the second order consequence of events in the form of stagflation takes root,” Ross Norman, chief executive officer at Metals Daily, told MarketWatch.
Gold futures ranged from $1,964.20 to $2,007.50. They jumped 4.2% last week.
Silver for May delivery shed 6.9 cents, or 0.3%, to settle at $25.72 an ounce. Silver futures traded between $25.46 and $26.37. They soared 7.4% last week, ending Friday at their highest price since July 16.
In other precious metals futures on Monday:
- April platinum dipped 20 cents, or 0.02%, to $1,116.80 an ounce, ranging from $1,106 to $1,162.40.
- Palladium for June delivery declined $80, or 2.7%, to $2,901.90 an ounce after scoring a record settlement on Friday. Palladium traded between $2,800.50 and $3,425.
Last week, platinum gained 6.4% and palladium rallied 26.1%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased on Monday by 482,000 ounces in silver coins; 2,500 ounces in platinum coins, and a combined 41,500 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)|
|Monday||Last Week||January||February||March||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||25,000||27,500||123,500||86,000||33,500||243,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||45,000||0||0||45,000|
|$10 American Eagle 1/4 Oz Gold Coin||6,000||0||64,000||4,000||6,000||74,000|
|$5 American Eagle 1/10 Oz Gold Coin||20,000||0||195,000||25,000||20,000||240,000|
|$50 American Buffalo 1 Oz Gold Coin||10,500||11,500||61,500||28,500*||15,500||105,500|
|$1 American Eagle 1 Oz Silver Coin||482,000||0||5,001,000||1,500,000||482,000||6,983,000|
|$100 American Eagle 1 Oz Platinum Coin||2,500||4,700||N/A||25,800||7,200||33,000|
|$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|
This article was edited to include updated U.S. Mint bullion figures.