Precious metals advanced Thursday. Platinum logged a solid increase while palladium surged. Gains for gold and silver were more modest.
Gold for April delivery settled up $13.60, or 0.7%, to $1,935.90 an ounce on the Comex division of the New York Mercantile Exchange.
“Gold prices are moderately higher in midday U.S. trading Thursday, on continued safe-haven demand as risk appetite remains squelched by the Russia-Ukraine geopolitical situation,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
“Risk aversion remains elevated amid the Russia-Ukraine war that has intensified. Crude oil and grain prices are soaring and that’s also stoking inflation fears.”
Gold futures traded between $1,923.10 and $1,941.40. They shed 1.1% on Wednesday, 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 edged up 2.2 cents, or 0.09%, to settle at $25.212 an ounce. Silver futures ranged from $25.07 to $25.67. They lost 1.4% on Wednesday, they soared 4.8% on Tuesday, for their best close since Aug. 3, and they climbed 1.5% on Monday.
In other precious metals futures prices on Thursday:
- April platinum added $12.80, or 1.2%, to $1,080.80 an ounce, trading between $1,069.70 and $1,095.50.
- Palladium for June delivery added $65.90, or 2.5%, to $2,730.80 an ounce, ranging from $2,619 to $2,786.
US Mint Bullion Sales in 2022
Published U.S. Mint bullion sales increased for Thursday by 8,500 ounces in American Gold Eagles, by 5,000 ounces in American Gold Buffalos, and by 4,700 ounces in American Platinum Eagles.
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) | ||||||
|---|---|---|---|---|---|---|
| Thursday / March | Last Week | This Week | January | February | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 8,500 | 35,500 | 27,500 | 123,500 | 86,000 | 218,000 |
| $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 | 5,000 | 10,000 | 11,500 | 61,500 | 28,500* | 95,000 |
| $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 | 4,700 | 25,800 | 4,700 | N/A | 25,800 | 30,500 |
| $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 |
*The U.S. Mint on March 3 published adjusted February American Gold Buffalo sales. Their total moved up 2,000 ounces to 28,500 ounces.