Precious metals advanced in their start to the new trading week on Monday following an extended three-day weekend. Gains ranged from 0.6% for gold to 3.8% for palladium. Gold and silver settled at more than five-week highs.
Gold for June delivery tacked on $11.50 to end at $1,986.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since March 10.
"Save-haven demand and chart-based buying are featured, to suggest still more upside in the near term," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"Risk aversion remains elevated amid the Russia-Ukraine war that shows no signs of ending any time soon and the Covid surge in China that has locked down major cities in the world’s second-largest economy," Wyckoff noted.
Gold futures traded between $1,974.40 and $2,003. They advanced 1.5% last week.
Silver for May delivery added 45 cents, or 1.8%, to finish at $26.15 an ounce. The close was silver’s highest since March 11. Silver futures ranged from $25.80 to $26.50. They surged 3.5% last week.
In other precious metals prices on Monday.
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July platinum ended up $26.30, or 2.7%, to $1,020.50 an ounce, trading between $991.20 and $1,024.90. Platinum gained 1.9% last week.
- Palladium for June delivery jumped $89.70 to $2,445.10 an ounce, ranging from $2,345 and $2,467. Palladium dropped 2.7% last week.
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 | April | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 123,500 | 86,000 | 140,500 | 21,500 | 371,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 45,000 | 0 | 5,000 | 1,000 | 51,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 64,000 | 4,000 | 20,000 | 6,000 | 94,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 195,000 | 25,000 | 75,000 | 25,000 | 320,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 61,500 | 28,500 | 64,500 | 7,000 | 161,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 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 |
