Precious Metals Fall Monday, March 28

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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:

  • 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

 

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Rich

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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Last edited 1 month ago by Rich
SENZA

And as we bring the Quadruple Witching Hour to and end we must celebrate the most coveted Award of all “The First One Done” Award and all of it’s Magical Honors and Entitlements now bestowed upon our own Magical Commentator RICH…………

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Rich

Too bad the award doesn’t come with a prize…

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SENZA

LMAO I have never even tried for one of those and I know if I get one I won’t be able to get rid of it……………………………………..

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