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.