Gold Marks New, More Than 1-Year High

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The price of platinum declined on Thursday while prices for gold, silver and palladium increased for a third straight session. Gold registered a new, more than one-year high.

Gold for April delivery tacked on $15.90, or 0.8%, to settle at $1,926.30 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Jan. 5, 2021, when gold ended at $1,954.40 an ounce.

"Safe-haven demand is featured amid a risk-off trading day in the marketplace, as Russia unleashed a major military attack on its neighboring country, Ukraine. However, by midday most markets had calmed down significantly, including U.S. stock indexes and Treasury markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,911.50 and $1,976.50. They edged up 0.2% on Wednesday and they rose 0.4% in their start to the trading week on Tuesday.

Silver for March delivery rose 13.4 cents, or 0.6%, to close at $24.687 an ounce. The settlement was the highest since Jan. 20 when silver ended at $24.716 an ounce. Silver futures traded between $24.55 and $25.68. They increased 1% on Wednesday and they advanced 1.3% on Tuesday.

In other precious metals prices Thursday:

  • April platinum lost $29.60, or 2.7%, to $1,062.10 an ounce, ranging from $1,053.20 to $1,132.

  • Palladium for June delivery — the new, most-active contract — gained $59.50, or 2.4%, to $2,501.90 an ounce, trading between $2,454 and $2,721.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales increased Thursday by 5,500 ounces in American Gold Buffalos and a combined 20,500 ounces in American Gold 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)
Thursday Last Week This Week January February 2022 Sales
$50 American Eagle 1 Oz Gold Coin 19,500 10,500 35,500 123,500 67,000 190,500
$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 10,000 5,000 10,000 195,000 25,000 220,000
$50 American Buffalo 1 Oz Gold Coin 5,500 6,500 10,000 61,500 22,000 83,500
$1 American Eagle 1 Oz Silver Coin 0 480,500 519,500 5,001,000 1,500,000 6,501,000
$100 American Eagle 1 Oz Platinum Coin 0 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

 

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