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|