Gold Hits Over 1-Year High, Metals Poised for Sharp Gains in March


Precious metals gained on Thursday and are positioned to potentially increase over a longer term by Friday, with gains ranging from solid for the week to extraordinary for the month. The trading day ended with gold at its best price in more than a year, and silver at its highest price in over two months.

Gold for June delivery rose $13.20, or 0.7%, to end at $1,997.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since March 10, 2022.

"Gold continues to find support on the dips as it remains supported by falling interest-rate expectations, a weakening U.S. dollar, some safe-haven demand, as well as strong physical demand from China," Fawad Razaqzada, market analyst at City Index and, told MarketWatch. "On top of this, you have strong technical bullish momentum, which is helping to keep the downside limited for now."

Gold futures traded between $1,971.60 and $2,002.40. They slipped 0.3% on Wednesday, they gained 1% on Tuesday, and they dropped 1.5% on Monday. The yellow metal is 8.8% higher on the month to date.

Rising for the sixth time in seven sessions, silver for May delivery jumped 52.3 cents, or 2.2%, to finish at $23.989 an ounce. The settlement was the highest since Jan. 26. Silver futures ranged from $23.37 to $24.10. They edged 0.2% higher on Wednesday, they advanced 1.2% on Tuesday, and they shed 0.8% on Monday. Silver is currently 13.9% higher on the month.

In other precious metals prices on Thursday:

  • July platinum settled up $19.50, or 2%, to $996.90 an ounce, trading between $972.10 and $999.

  • Palladium for June delivery gained $26.50, or 1.8, to $1,463.60 an ounce, ranging from $1,423 to $1,497.50.

US Mint Bullion Sales in 2023

Published U.S. Mint bullion sales were unchanged on Thursday. 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)
Thursday Last Week This Week January Sales February March 2023 Sales
$50 American Eagle 1 Oz Gold Coin 0 107,500 26,000 118,000 41,500 183,500 343,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 37,000 8,000 1,000 46,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 62,000 12,000 10,000 84,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 115,000 85,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 0 38,500 9,500 59,000 19,500 67,000 145,500
$1 American Eagle 1 Oz Silver Coin 0 450,000 0 3,949,000 900,000 900,000 5,749,000
$100 American Eagle 1 Oz Platinum Coin 0 7,500 0 N/A N/A 7,500 7,500
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Dazed and Coinfused

I went to buy the 4 piece gold set yesterday and it came with a 2ns mortgage application during checkout. Wonder if numismatic value goes up ratio wise with spot or if the total value just depends on other factors. I know demand and what people will pay is the answer, but there has to be an x y and z and eventual intersection right?

Dazed and Coinfused

Crap. Nobody bought silver last week? 450k was the mark. After 3 million made? Hmmm