Gold Gains on Safe-Haven Demand, US Mint Gold Coins Up

One gold bullion bar
Precious metals advanced as a group for a second straight day Thursday. US Mint gold coins in the one-ounce size also gained.

Gold prices advanced for a second straight session Thursday, spurred by safe-haven demand as tensions increased between Russia and Ukraine.

Gold for June delivery rose $6, or 0.5%, to end at $1,290.60 an ounce on the Comex division of the New York Mercantile Exchange. Prices ranged from a low of $1,268.40 to a high of $1,299.

"Given the deteriorating situation in Ukraine, we expect safe-haven demand to support gold and to aid price gains in the coming weeks," MarketWatch quoted Mark O’Byrne, a director at GoldCore.

Tensions escalated sharply Thursday after Ukrainian forces said they killed five pro-Russian insurgents and Russia launched new military exercises near the Ukrainian border.

In other precious metals, silver and palladium climbed for a third day and platinum rose for a second day. In the daily closings:

  • Silver for May delivery gained a quarter, or 1.3%, to $19.69 an ounce, trading between $18.93 and $19.91.

  • July platinum added $5.70, or 0.4%, to $1,409.60 an ounce, ranging from $1,387.30 to $1,417.20.

  • Palladium for June delivery surged $16.30, or 2.1%, to $802.30 an ounce, trading between $778 and $806.

London Fix Precious Metals

Earlier fixed London precious metals were mixed following modest prior-day losses. In contrasting the London fix prices from Wednesday PM to Thursday PM:

  • Gold rose $6.25, or 0.5%, to $1,291.50 an ounce,
  • Silver fell 40 cents, or 2.1%, to $19.06 an ounce,
  • Platinum lost $6, or 0.4%, to $1,394 an ounce, and
  • Palladium added $1, or 0.1%, to $787 an ounce

US Mint Bullion Sales in March

U.S. Mint bullion sales increased across one-ounce gold coins with 22-karat Gold Eagles rising 1,500 and 24-karat Gold Buffalo coins advancing 500.

Below is a sales breakdown for U.S. Mint bullion coins with columns listing the number of bullion coins sold on Thursday, last week, this week so far, last month, the month-to-date, and this year so far.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Sales Last Week Week-To-Date Sales March Sales April Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 300 100 10,000 1,000 11,000
$50 American Eagle Gold Coins 1,500 7,500 3,000 16,000 22,500 123,000
$25 American Eagle Gold Coins 0 0 0 2,000 1,000 18,000
$10 American Eagle Gold Coins 0 8,000 2,000 4,000 20,000 62,000
$5 American Eagle Gold Coins 0 10,000 5,000 30,000 35,000 275,000
$50 American Buffalo Gold Coins 500 3,000 1,000 12,000 14,000 79,500
$1 American Eagle Silver Bullion Coins 0 1,085,000 1,140,500 5,354,000 3,569,000 17,448,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins N/A* 7,400 600 12,400 10,600 23,000


*The U.S. Mint on Monday, April 21, said it temporarily sold out of Great Smoky Mountains National Park 5 Oz Silver Bullion Coins and that it would have additional inventory available in a few weeks.

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