Gold, silver and palladium rallied on Monday. Platinum also gained, but more modestly. Gold’s advance was its seventh in a row, and its tenth in eleven sessions. The yellow metal also notched a nearly three-month high.
Gold for April delivery rose $27.30, or 1.5%, to settle at $1,869.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 17 when gold ended at $1,870.20 an ounce.
"We got a flight to safety going into gold at the moment as equity markets are selling off. We also have a lot of big economic data coming out this week, and the main focus is inflation," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.
Gold futures traded between $1,851.90 and $1,876.50. They advanced 1.9% this week.
Marking the sixth gain in seven sessions, silver for March surged 47.9 cents, or 2.1%, to settle at $23.848 an ounce. The close was the highest since Jan. 25 when silver finished at $23.896 an ounce. Silver futures ranged from $23.55 to $23.94. They soared 4% last week.
In other precious metals futures prices on Monday:
April platinum added $9.30, or 0.9%, to $1,028 an ounce, trading between $1,020.60 and $1,044.30.
- Palladium for March delivery soared $152.40, or 7%, to $2,346 an ounce, ranging from $2,252 to $2,391.
Last week, platinum lost 0.5% and palladium plunged 4.2%.
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 17,500 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||Last Week||December||January||February||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||10,500||21,000||41,000||123,500||31,500||155,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||45,000||0||45,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||2,000||64,000||2,000||66,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||10,000||0||195,000||15,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||6,500||5,500||10,500||61,500||12,000||73,500|
|$1 American Eagle 1 Oz Silver Coin||480,500||500,000||0||5,001,000||980,500||5,981,000|
|$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|