Precious metals posted sharp advances on Thursday that ranged from 1.8% for gold to 5.3% for palladium. Gains in gold and silver were their first in five sessions.
Gold for April delivery bounced $34 to settle at $1,943.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Markets continue to watch the interaction of supportive factors with headwinds," MarketWatch quoted Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. "Supportive factors include geopolitical risks from the Russia/Ukraine conflict, still very negative real interest rates, and investors seeking shelter from higher interest rates and resulting poor bond returns." Headwinds include a stronger U.S. dollar and the "ongoing cyclical reopening and recovery from the coronavirus pandemic."
Gold futures traded between $1,924 and $1,951. They fell 1.1% on Wednesday, marking their lowest settlement since Feb. 28, they shed 1.6% on Tuesday, and they gave back 1.2% on Monday.
Silver for May delivery surged 90.6 cents, or 3.7%, to settle at $25.616 an ounce. Silver futures ranged from a low of $25.16 to a high of $25.75. They dropped 1.8% on Wednesday, for, also like gold, their lowest finish since Feb. 28, they slipped 0.6% on Tuesday, and they fell 3.3% on Monday.
In other precious metals futures prices on Thursday:
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April platinum added $23.20, or 2.3%, to $1,031.30 an ounce, trading between $1,013.20 and $1,035.50. Platinum gained 0.6% on Wednesday, plunged 4.7% on Tuesday, and lost 3.3% on Monday.
- Gaining for the first time in seven sessions, palladium for June delivery soared $124.70 to $2,492 an ounce, ranging from $2,366 and $2,537.50. Palladium fell 1.9% on Wednesday, dipped 0.2% on Tuesday, and sank 13.6% on Monday.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Thursday. 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 / This Week | Last Week | January | February | March | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 60,500 | 123,500 | 86,000 | 69,000 | 278,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 45,000 | 0 | 1,000 | 46,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 12,000 | 64,000 | 4,000 | 12,000 | 80,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 45,000 | 195,000 | 25,000 | 45,000 | 265,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 22,000 | 61,500 | 28,500 | 27,000 | 117,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 600,000 | 5,001,000 | 1,500,000 | 600,000 | 7,101,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 6,500 | N/A | 25,800 | 11,200 | 37,000 |
| $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 |
