Gold Logs 10-Month High; Palladium Marks Another Record

Gold bullion and gold coins
Gold scored its best close since April 19

Precious metals futures rallied Tuesday in their start to the new trading week. U.S. markets closed Monday for Presidents Day. Palladium registered another record. Gold posted its highest close in 10 months.

Gold for April delivery advanced $22.70, or 1.7%, to settle at $1,344.80 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since April 19 when the yellow metal ended at $1,348.80 an ounce.

"Technical buying, some geopolitical uncertainties and ideas of easier monetary policies being put in place by the world’s major central banks are boosting the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A drop in the U.S. dollar index today, after holding mild gains overnight, is also working in favor the metals market bulls today. There are no early chart clues gold’s push higher will end anytime soon."

Gold futures ranged from a low of $1,323.80 to a high of $1,345.

Elsewhere, silver for March delivery gained 22.4 cents, or 1.4%, to finish at $15.967 an ounce. Silver futures traded between $15.71 and $15.98.

In precious metals futures prices Tuesday:

  • April platinum rose $14.10, or 1.8%, to $821 an ounce, ranging from $804 to $824.50.

  • Palladium for March delivery soared $46.70, or 3.3%, to $1,453.90 an ounce — a fresh record settlement. Palladium prices traded between $1,406.20 and $1,465.80.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM

  • Gold rose $8.65, or 0.7%, to $1,334.15 an ounce.
  • Silver added 1.5 cents, or 0.1%, to $15.78 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint 2019 Bullion Sales

Gains in United States Mint bullion coins included 2,000 ounces in American Gold Eagles and 222,500 ounces in American Silver 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)
Tuesday / This Week Last Week January February 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 400 27,100 1,800 28,900
$50 American Eagle 1 Oz Gold Coin 1,500 2,000 44,500 8,000 52,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 15,000 1,000 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 0 20,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 5,000 85,000 10,000 100,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 23,500 5,500 29,000
$1 American Eagle 1 Oz Silver Coin 222,500 775,000 4,017,500 1,282,500 5,300,000


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