Gold and Silver Mark 2-Week Highs on Tuesday, Feb. 8

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Precious metals climbed Tuesday. Gains in gold and silver were their third in row, and their sixth in seven sessions. Gold and silver each marked 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 $1,816 and $1,829.90. They rose 0.8% on Monday.

Silver for March tacked on 12.4 cents, or 0.5%, to settle at $23.20 an ounce. Silver futures ranged from $22.77 to $23.27. Like for gold, the settlement was silver’s highest since Jan. 26. Silver surged 2.7% on Monday.

In other precious metals futures prices on Tuesday:

  • April platinum added $16.30, or 1.6%, to $1,036.30 an ounce, trading between $1,004 and $1,037.40.

  • Palladium for March delivery added $4.10, or 0.2%, to $2,264.20 an ounce, ranging from $2,200 to $2,284.50.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales increased Tuesday by 19,500 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 Last Week This Week / February December January 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 13,500 19,500 41,000 123,500 143,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 45,000 45,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 2,000 64,000 64,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 5,000 0 195,000 200,000
$50 American Buffalo 1 Oz Gold Coin 0 8,500 5,000 10,500 61,500 66,500
$1 American Eagle 1 Oz Silver Coin 19,500 500,000 500,000 0 5,001,000 5,501,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 0
$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

 

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