Gold Prices Ease After U.S. Inflation Data


Prices for precious metals divided Tuesday with those for silver and palladium advancing, registering fresh settlement highs, and those for gold and platinum falling.

Gold for April delivery shed $5.60, or 0.3%, to settle at $1,910.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are weaker in midday U.S. trading Tuesday, on a normal downside correction following strong gains posted Monday," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. "The general marketplace breathed a slight sigh of relief following a U.S. inflation report today that did not come in hotter than expected amid the current financial turmoil."

On Tuesday, the U.S. Labor Department reported that consumer prices increased 0.4% in February after rising 0.5% in January, with annual inflation easing to 6% from 6.4%. The levels were in line with expectations. The core rate for the month, at 0.5% from 0.4%, was slightly higher than forecasted.

Gold futures traded between $1,899.80 and $1,919.40. They gained 2.5% on Monday, for their highest close since Feb. 2.

Meanwhile, silver for May delivery added 11.7 cents, or 0.5%, to finish at $22.04 an ounce. The settlement was the highest since Feb. 10. Silver futures ranged from $21.46 to $22.09. They soared 6.9% on Monday.

In other precious metals prices Tuesday:

  • After ending at their highest price since Feb. 2, April platinum fell $7.60, or 0.8%, to $997.30 an ounce, trading between $983.30 and $1,009.50.

  • Palladium for June delivery tacked on $41, or 2.8%, to $1,517.70 an ounce, ranging from $1,432.50 to $1,532. The settlement was the highest since Feb. 21. As recently as Wednesday, palladium at $1,363.10 an ounce logged its lowest settlement since June 7, 2019.

US Mint Bullion Sales in 2023

On Tuesday, published United States Mint bullion sales increased. Gains included a combined 41,500 ounces in American Gold Eagles and 14,500 ounces in American Gold Buffalos.

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 Sales February March 2023 Sales
$50 American Eagle 1 Oz Gold Coin 39,500 10,500 118,000 41,500 50,000 209,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 37,000 8,000 1,000 46,000
$10 American Eagle 1/4 Oz Gold Coin 8,000 2,000 62,000 12,000 10,000 84,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 115,000 85,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 14,500 4,500 59,000 19,500 19,000 97,500
$1 American Eagle 1 Oz Silver Coin 0 450,000 3,949,000 900,000 450,000 5,299,000
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All I’m hearing is crickets.

Kaiser Wilhelm

Antonio, you mean these?

Buddy Holly SB 996999.jpg
Last edited 6 months ago by Kaiser Wilhelm

The Crickets, Beatles, and Grasshoppers…I’ve always loved the study of entomology!


Sounds like we need The Yardbirds…

Kaiser Wilhelm

Possibly could use some serious backup from the Eagles, the Black Crowes, and why the heck not, a whole darn Flock of Seagulls!


Sir Kaiser, you surely have a heart full of soul.

Kaiser Wilhelm

Thank you, ever gracious Good Sir Rich; reciprocity affirmed!

Kaiser Wilhelm

I’m feeling inundated by a flutter of feathers, but I like it! I guess that made me wonder what exactly the trouble with Tribbles was!

Kaiser Wilhelm

Blackhawks, Blackhearts, six of one and half a dozen of the other.

Kaiser Wilhelm

By the way, please feel free to click on the above gif to get the full and actual Talking Heads “Ministry of Silly Walks” effect.

Kaiser Wilhelm

Don’t neglect the Roches, Adam and the Ants and Iron Butterfly. Insects rule!


Man, I used to love listening to In-a-gatta-de-vita by Iron Butterfly, back in the day when musicians could actually play instruments.

Kaiser Wilhelm

One of the songs that served to define an era, Craig, which was the gradual transition from the bliss of the “(1967) Summer of Love” to the ultimate rancor of the Vietnam War protests and from the psychedelic sounds to those of heavy metal, this gem was released a month after my 21st birthday but very much to my chagrin not in honor of it. While I don’t think anyone knows for sure it is generally assumed that the original title was meant to be In The Garden Of Eden, one that was totally misunderstood as In-A-Gadda-Da-Vida in the recording… Read more »


“Hold Me Closer Tony Danza”

Kaiser Wilhelm

One of the very best, Good Sir Rich, and there are so many…

Kaiser Wilhelm

Speaking of which, Good Sir Rich, and I guess I just was…

Kaiser Wilhelm

Ah yes, Major D, I remember this from a basement lounge dance/”mixer” at my dorm in 1966 as delivered by a local cover band. The lyrics seemed to say “I [had carnal knowledge of] her every night at ten, and then in the morning I [ditto from before] her again” or some such wistfully imagined barely post-adolescent drivel. By the way, the song was almost a decade old at that point since the Kingsmen’s 1963 release was a far more popular version of Richard Berry’s 1957 original.