Gold Scores 8-Month High on Wednesday, Feb. 16

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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

 

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SENZA

Breaking Out

02-16-2022_080.jpg
SENZA

Busting Out —it’s important to know technical terminology

Rich

Looks like something got yanked.