Gold, Silver and Palladium Rise Wednesday, March 23

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In trading action Wednesday, prices for platinum moved lower while those for gold, silver and palladium settled higher. The ending for gold was its best in nearly a week.

Gold for April delivery tacked on $15.80, or 0.8%, to finish at $1,937.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since March 17.

"Gold and silver prices are moderately higher near midday Wednesday, lifted in part by sharp gains in crude oil prices and a lower U.S. stock market at mid-week," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

"The other element very near the front burner of the marketplace is inflation worries. Rising inflation is historically bullish for the metals markets," Wyckoff added.

Gold futures ranged from $1,915.60 to $1,940. They shed 0.4% on Tuesday for their lowest settlement since March 16 and they inched 0.01% higher on Monday.

Silver for May delivery finished up 28.5 cents, or 1.1%, to $25.189 an ounce. Silver futures traded between $24.78 and $25.30. They dropped 1.6% on Tuesday, also for their lowest settlement since March 16, and they rose 0.9% on Monday.

In PGM futures on Wednesday:

  • April platinum dipped $4.10, or 0.4%, to $1,021 an ounce, ranging from $1,015.40 to $1,034.

  • Palladium for June delivery picked up $42.80, or 1.7%, to $2,519.30 an ounce, trading between $2,483 and $2,589.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales were unchanged on 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 January February March 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 41,500 123,500 86,000 110,500 320,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 3,000 45,000 0 4,000 49,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 64,000 4,000 16,000 84,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 20,000 195,000 25,000 65,000 285,000
$50 American Buffalo 1 Oz Gold Coin 0 0 20,500 61,500 28,500 47,500 137,500
$1 American Eagle 1 Oz Silver Coin 0 0 480,500 5,001,000 1,500,000 1,080,500 7,581,500
$100 American Eagle 1 Oz Platinum Coin 0 0 3,000 N/A 25,800 14,200 40,000
$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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Antonio

Everything is up, including petroleum. Oh, and I first to enter a comment here? Whoopie me.

Rich

Congratulations Antonio, even you are up today (for the “first one and done award”). And I was betting on Sir Kaiser…

Kaiser Wilhelm

Good Sir Rich and First In Line Antonio,

I must be losing my touch. My admittedly unbelievably feeble excuse is that I just so happened to miss my usually obligatory afternoon grandpa nap today…oh shucks. Can’t win them all, or sometimes any of them.

By the way, congrats to Antonio for being First In Line At The Thread!

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Rich

Oh no, I hope Sam (I am) Tweedy doesn’t find out about this.

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Kaiser Wilhelm

Well, I look at it this way, Good Sir Rich. sam “I am” tweedy has in fact already blanket-labelled us Old Ladies!!!!!!!, so what’s a few old people naps (and a couple of missing molars) more or less between friends?

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Last edited 2 months ago by Kaiser Wilhelm
SENZA

Speaking of Tweedy

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SENZA

Well this is a Double First – your not only the First One In but it’s also your first time being first – what a spectacular celebration this is.

And I don’t bring out Santa’s Stripping Elves for just any event.

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