Precious metals finished mixed in their start to the new trading week on Monday with gold and silver rising and platinum and palladium falling. Gold and silver each ended near two-week highs.
Gold for April delivery rose $14, or 0.8%, to settle at $1,821.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Jan. 26.
"My sense is the inflation narrative is starting to take over from the [U.S. dollar] and Treasury yields as the key driver — and hence the strong showing" for gold, Ross Norman, chief executive officer at Metals Daily, told MarketWatch.
Gold futures traded between $1,807.50 and $1,823.20. Last week, gold prices traded 1.2% higher.
Silver for March jumped 60.1 cents, or 2.7%, to settle at $23.076 an ounce. Silver futures ranged from $22.50 to $23.09. Like for gold, the settlement was silver’s highest since Jan. 26. They climbed 0.8% last week.
In other precious metals futures on Monday:
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April platinum declined $4.20, or 0.4%, to $1,020 an ounce, trading between $1,009.80 and $1,031.10.
- Palladium for March delivery lost $30.60, or 1.3%, to $2,260.10 an ounce, ranging from $2,165.50 to $2,306.
Last week platinum gained 1.8% but palladium dropped 3.6%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased Monday by 480,500 ounces in American Silver Eagles and a combined 25,000 ounces in American Eagle and Buffalo 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 / February | Last Week | December | January | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 19,500 | 13,500 | 41,000 | 123,500 | 143,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 45,000 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 2,000 | 64,000 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 15,000 | 0 | 195,000 | 200,000 |
| $50 American Buffalo 1 Oz Gold Coin | 5,000 | 8,500 | 10,500 | 61,500 | 66,500 |
| $1 American Eagle 1 Oz Silver Coin | 480,500 | 500,000 | 0 | 5,001,000 | 5,481,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 |
My precious.