Precious metals rallied in their start to the new trading week, month and quarter. Silver led gains, soaring 8.1% and ending at a more than seven-week high. Gold rose the least, up 1.8%, but closed near a three-week high.
Gold for December delivery moved up $30 to settle at $1,702 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 14.
"The two precious metals [gold and silver] are catching a solid safe-haven bid as the global stock and financial markets remain jittery, as media outlets are focusing on a desperate Russian president that may resort to using nuclear weapons in his war with Ukraine, and amid bullish outside markets that see higher crude oil prices and a weaker U.S. dollar index on this day,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,666.50 and $1,709.40. They fell 1% last week and posted their sixth monthly loss in a row. Last Monday at $1,633.40 an ounce, gold logged its lowest settlement since April 1, 2020.
Silver for December delivery jumped $1.55 to settle at $20.589 an ounce. The close was silver’s best since Aug. 12. Silver futures ranged from $18.98 to $20.78. On Friday, they marked a 6.5% monthly increase.
In other precious metals futures prices on Monday:
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January platinum added $41, or 4.8%, to $900.10 an ounce, ranging from $856.20 to $903.80.
- Palladium for December delivery gained $50, or 2.3%, to $2,232.20 an ounce, trading between $2,167.50 and $2,264.50.
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 | May | June | July | August | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 164,500 | 31,000 | 59,500 | 47,500 | 47,500 | 780,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 7,000 | 6,000 | 5,000 | 2,000 | 0 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 8,000 | 18,000 | 2,000 | 4,000 | 4,000 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 135,000 | 20,000 | 20,000 | 15,000 | 560,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 56,000 | 21,500 | 39,500 | 22,500 | 38,500 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 1,350,000 | 925,000 | 850,000 | 850,000 | 833,000 | 13,239,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 23,500 | 15,500 | 1,000 | 0 | 80,000 |
