Precious metals ended lower on Monday, led by 6.3% drop in palladium prices. Gold dropped the least by percentage, sliding 0.7%.
Gold for April delivery ended down $14.40 to $1,939.80 an ounce on the Comex division of the New York Mercantile Exchange.
"The war in Ukraine continues to provide a steady flow of flight to quality buying interest, but another layer of sanctions on Russia likely infuriates the Russian leader and that could lead to more volatile actions from Russia and more volatility in gold and silver," analysts at Zaner wrote in Monday’s commentary that was reported by MarketWatch.
Gold futures ranged from $1,924.50 to $1,959.80. They rose 1.3% last week.
Silver for May delivery fell 41.9 cents, or 1.6%, to finish at $25.196 an ounce. Silver futures traded between $25.03 and $25.80. They advanced last week by 2.1%.
In other precious metals futures prices on Monday:
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April platinum gave back $17.40, or 1.7%, to $991.10 an ounce, ranging from $982.10 to $1,008.80.
- Palladium for June delivery sank $151.90 to $2,242.40 an ounce, trading between $2,151.50 and $2,396.
Last week, platinum declined 2.7% and palladium tumbled 4%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Monday. 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) | ||||||
|---|---|---|---|---|---|---|
| Monday | Last Week | January | February | March | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 52,500 | 123,500 | 86,000 | 121,500 | 331,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 3,000 | 45,000 | 0 | 4,000 | 49,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 6,000 | 64,000 | 4,000 | 18,000 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 25,000 | 195,000 | 25,000 | 70,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 26,500 | 61,500 | 28,500 | 53,500 | 143,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 480,500 | 5,001,000 | 1,500,000 | 1,080,500 | 7,581,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 3,000 | N/A | 25,800 | 14,200 | 40,000 |
| $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 |
As expected today, Monday the 28th, we had a Comex option expiration for the April futures contracts for gold and silver, which is a fairly important option expiration. It usually allows the Cartel to Layeth the Smacketh Down on the precious metals
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