Precious metals divided on Tuesday as prices for gold and silver increased while those for platinum and palladium declined. Gains in gold and silver were their fourth straight. Gold also ended the day at a one-month high.
Gold for June delivery settled up $27.90, or 1.4%, to $1,976.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since March 11.
"Gold continues to benefit from the tailwinds provided by spicy inflation numbers," including [Tuesday’s] reading, which some are calling the prelude to a peak," Adam Koos, president at Libertas Wealth Management Group, told MarketWatch. "Not even interest rates or the rise in the [U.S. dollar] can seem to stop the higher prices in the yellow metal."
"Another U.S. inflation report that ran hot and big gains in crude oil futures today boosted the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"Rising and problematic inflation have been historically bullish for hard assets like the metals."
For the day, gold futures traded between $1,953 and $1,982.70. They edged 0.1% higher on Monday.
Meanwhile, silver for May delivery rallied 74.8 cents, or 3%, to finish at $25.735 an ounce. The close was silver’s best since March 24. Silver futures ranged from $25.02 to $25.84. They rose 0.7% on Monday.
In other precious metals futures prices on Tuesday:
July platinum declined $5.40, or 0.6%, to $972.40 an ounce, trading between $960.50 and $987.50.
- Palladium for June delivery dropped $62.50, or 2.6% to $2,354.30 an ounce, ranging from $2,301 and $2,458.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged on Tuesday. 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)|
|Tuesday / This Week||Last Week||January||February||March||April||2022 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||21,500||123,500||86,000||140,500||21,500||371,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||45,000||0||5,000||1,000||51,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||6,000||64,000||4,000||20,000||6,000||94,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||25,000||195,000||25,000||75,000||25,000||320,000|
|$50 American Buffalo 1 Oz Gold Coin||0||7,000||61,500||28,500||64,500||7,000||161,500|
|$1 American Eagle 1 Oz Silver Coin||0||425,000||5,001,000||1,500,000||1,080,500||425,000||8,006,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||N/A||25,800||14,200||0||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|