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:
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|