In precious metals trading Wednesday, gold climbed to a six-week high while silver, platinum and palladium declined.
Gold for April delivery tacked on $20.40, or 1.1%, to settle at $1,931.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Feb. 1.
"It’s a total safe-haven trade. There’s a lot of concern about Credit Suisse and now European banks are really coming under quite a bit of pressure. So it’s a complete flight to safety," Reuters quoted Phillip Streible, chief market strategist at Blue Line Futures in Chicago.
Gold futures traded between $1,889.50 and $1,942.50. They shed 0.3% on Tuesday and they gained 2.5% on Monday.
Elsewhere, silver for May delivery fell 15.8 cents, or 0.7%, to end at $21.882 an ounce. Silver futures ranged from $21.60 to $22.53. They rose 0.5% on Tuesday, registering their highest close since Feb. 10, and they soared 6.9% on Monday.
In PGM futures on Wednesday:
April platinum lost $27, or 2.7%, to $970.30 an ounce, trading between $953 and $997.70.
- After ending at their highest price since Feb. 21, palladium for June delivery tumbled $72.90, or 4.8%, to $1,444.80 an ounce, ranging from $1,415 to $1,516.50. Last Wednesday, palladium at $1,363.10 an ounce logged its lowest settlement since June 7, 2019.
US Mint Bullion Sales in 2023
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||Last Week||This Week||January Sales||February||March||2023 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||10,500||39,500||118,000||41,500||50,000||209,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||37,000||8,000||1,000||46,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||8,000||62,000||12,000||10,000||84,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||0||115,000||85,000||10,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||4,500||14,500||59,000||19,500||19,000||97,500|
|$1 American Eagle 1 Oz Silver Coin||0||450,000||0||3,949,000||900,000||450,000||5,299,000|
“After ending at their highest price since Feb. 21, palladium for June delivery tumbled $72.90, or 4.8%, to $1,44.80 an ounce, ranging from $1,415 to $1,516.50. Last Wednesday, palladium at $1,363.10 an ounce logged its lowest settlement since June 7, 2019.” – CoinNews.net
Palladium not only dropped like a rock but also exhibited an unusual price point.
The Army 2.5 oz silver medal is back available today. 53 as of 9:35 am EST March 16.
The 100% Genuine Official Magic Product Availability Yoyo of the Mint unspools again.
HOLs were just increased for all Morgan and Peace $’s
2023 Morgan Silver Dollar Uncirculated Coin
2023 Peace Silver Dollar Uncirculated Coin
2023 Morgan Silver Dollar Proof Coin
2023 Peace Silver Dollar Proof Coin
2023 Morgan and Peace Dollar Two-Coin Reverse Proof Set
And the Subscriptions page has crashed
My goodness. Magic Caffeine “Sold Out Limited Edition No One But Me Has Any Of These Once In A Lifetime Opportunity Coins But Hurry They’re Almost Gone” Mezack must have taken a cue from Pewtin and launched a multipronged assault on the system.