Gold, silver and platinum gained on Wednesday while palladium declined. Increases in gold and silver were their fifth in a row. Both metals also scored one-month settlement highs.
Gold for June delivery advanced $8.60, or 0.4%, to settle at $1,984.70 an ounce on the Comex division of the New York Mercantile Exchange. The close was gold’s highest since March 11.
"Gold and silver prices are posting moderate gains in midday U.S. trading Wednesday, after another U.S. inflation report that ran record hot. A big rally in crude oil prices this week and a lower U.S. dollar index on this day are bullish outside market forces for the precious metals at mid-week," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"The U.S. producer price index for March, reported this morning, came in at up 1.4% from February and compares to the forecast for up 1.1%. Year on year, PPI was up 11.2%, which is a record reading for the report."
Gold futures traded between $1,966.30 and $1,985.80. They climbed 1.4% on Tuesday and they edged 0.1% higher on Monday.
Silver for May delivery tacked on 29.5 cents, or 1.2%, to end at $26.03 an ounce. Like for gold, the settlement was silver’s best since March 11. Silver futures ranged from $25.53 to $26.07. They surged 3% on Tuesday and they rose 0.7% on Monday.
In PGM futures on Wednesday:
July platinum added $17.20, or 1.8%, to $989.60 an ounce, trading between $966.40 and $991.
- Palladium for June delivery declined $14.80, or 0.6% to $2,339.50 an ounce, ranging from $2,303.50 and $2,419.50.
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 / 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|
Unlike the Rise of the Silver Surfer!