Precious metals posted gains on Thursday that ranged from 0.5% for palladium to 2.9% for silver. Both gold and silver finished today at nearly two-week highs.
Gold for April delivery advanced $24.90, or 1.3%, to finish at $1,962.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since March 11.
"Gold and silver prices are are sharply higher in midday U.S. trading Thursday, as safe-haven demand is featured amid marketplace risk aversion that remains elevated amid the Russia-Ukraine war. Sharp gains in crude oil prices this week are also bullish for the metals markets, even though oil prices backed off today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"The other element impacting the marketplace is inflation, which has intensified because of the war. Rising inflation is historically bullish for metals markets. Global bond market yields have been rising sharply recently, with U.S. Treasury yields nearing three-year highs," Wyckoff added.
Gold futures ranged from $1,937.40 to $1,967.20. They rose 0.8% on Wednesday, 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 surged 73.1 cents to end at $25.92 an ounce. The close was also silver’s highest since March 11. Silver futures traded between $25.17 and $26.16. They gained 1.1% on Wednesday, they dropped 1.6% on Tuesday, also for their lowest settlement since March 16, and they rose 0.9% on Monday.
In other precious metals futures prices on Thursday:
April platinum climbed $10.20, or 1%, to $1,031.20 an ounce, ranging from $1,014.70 to $1,039.10.
- Palladium for June delivery added $11.30 to $2,530.60 an ounce, trading between $2,483 and $2,563.
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||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|