Precious metals rebounded Wednesday from their losses on Tuesday. Gains ranged from 0.8% for gold to 4.2% for platinum. Gold’s increase was its eighth in nine sessions. The yellow metal also finished at a more than eight-month high.
Gold for April delivery rose $15.30 to settle at $1,871.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 11 when gold ended at $1,879.60 an ounce.
"Gold prices are posting double-digit advances in midday U.S. trading Wednesday, as bullish bargain buyers stepped up to buy the early weakness. Bullish outside markets that include sharp gains in crude oil prices and a weaker U.S. dollar index also worked in favor of the precious metals market bulls today,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,851.80 and $1,872.40. They shed 0.7% on Tuesday and they climbed 1.5% on Monday.
Silver for March delivery settled up 26.3 cents, or 1.1%, to $23.605 an ounce. Silver futures ranged from $23.29 to $23.63. They fell 2.1% on Tuesday while they oppositely surged 2.1% on Monday for their highest close since Jan. 25.
In PGM futures on Wednesday:
April platinum soared $43.30 to $1,063.70 an ounce, trading between $1,021.40 and $1,067.80.
- Palladium for March delivery added $19.30, or 0.9%, to $2,271.60 an ounce, ranging from $2,211.50 to $2,315.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged Wednesday. 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)|
|Wednesday||Last Week||This Week||December||January||February||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||21,000||10,500||41,000||123,500||31,500||155,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||45,000||0||45,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||2,000||64,000||2,000||66,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||5,000||0||195,000||15,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||5,500||6,500||10,500||61,500||12,000||73,500|
|$1 American Eagle 1 Oz Silver Coin||0||500,000||480,500||0||5,001,000||980,500||5,981,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||0||0|
|$25 American Eagle 1 Oz Palladium Coin||0||0||0||0||0||0||0|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||0||0||0|