Precious metals gained for a second straight session Wednesday, led by palladium. Gold’s climb was the lowest, but the yellow metal still ended the day at a more than 13.5-month high.
Gold for April delivery edged up $3, or 0.2%, to settle at $1,910.40 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Jan. 7, 2021, when gold ended at $1,913.60 an ounce.
"Risk aversion is still elevated at mid-week, and that’s also supportive for the safe-haven metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"On the front burner of the marketplace remains the Russian incursion into Ukraine. The U.S. and other nations have slapped sanctions on Russia, but it appears the West has no intention of military action against Russia. That has somewhat assuaged the marketplace, for now," Wyckoff said.
Gold futures traded between $1,891.10 and $1,912.90. They rose 0.4% in their start to the trading week on Tuesday.
Silver for March delivery increased 24.2 cents, or 1%, to end at $24.553 an ounce. The settlement was the highest since Jan. 20 when silver settled at $24.716 an ounce. Silver futures traded between $24.05 and $24.60. They advanced 1.3% on Tuesday.
In PGM futures on Wednesday:
-
April platinum added $5.70, or 0.5%, to $1,091.70 an ounce, ranging from $1,078.50 to $1,096.90.
- Palladium for March delivery tacked on $68.80, or 2.9%, to $2,440.60 an ounce, trading between $2,342 and $2,462.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased on Wednesday by 19,500 ounces in American Silver Eagles; 3,000 ounces in American Gold Eagles; and 500 ounces in American Platinum 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) | ||||||
|---|---|---|---|---|---|---|
| Wednesday | Last Week | This Week | January | February | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 3,000 | 10,500 | 16,000 | 123,500 | 47,500 | 171,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 45,000 | 0 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 64,000 | 4,000 | 68,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 0 | 195,000 | 15,000 | 210,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 6,500 | 4,500 | 61,500 | 16,500 | 78,000 |
| $1 American Eagle 1 Oz Silver Coin | 19,500 | 480,500 | 519,500 | 5,001,000 | 1,500,000 | 6,501,000 |
| $100 American Eagle 1 Oz Platinum Coin | 500 | N/A | 25,800 | N/A | 25,800 | 25,800 |
| $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 |
