Precious metals rebounded Wednesday from their losses on Tuesday. Gains ranged from 0.8% for gold to 4.2% for platinum. Gold’s increase was its eighth in nine sessions. The yellow metal also finished at a more than eight-month high.
Gold for April delivery rose $15.30 to settle at $1,871.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 11 when gold ended at $1,879.60 an ounce.
"Gold prices are posting double-digit advances in midday U.S. trading Wednesday, as bullish bargain buyers stepped up to buy the early weakness. Bullish outside markets that include sharp gains in crude oil prices and a weaker U.S. dollar index also worked in favor of the precious metals market bulls today,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,851.80 and $1,872.40. They shed 0.7% on Tuesday and they climbed 1.5% on Monday.
Silver for March delivery settled up 26.3 cents, or 1.1%, to $23.605 an ounce. Silver futures ranged from $23.29 to $23.63. They fell 2.1% on Tuesday while they oppositely surged 2.1% on Monday for their highest close since Jan. 25.
In PGM futures on Wednesday:
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April platinum soared $43.30 to $1,063.70 an ounce, trading between $1,021.40 and $1,067.80.
- Palladium for March delivery added $19.30, or 0.9%, to $2,271.60 an ounce, ranging from $2,211.50 to $2,315.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged 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 | December | January | February | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 21,000 | 10,500 | 41,000 | 123,500 | 31,500 | 155,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 45,000 | 0 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 2,000 | 64,000 | 2,000 | 66,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 5,000 | 0 | 195,000 | 15,000 | 210,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 5,500 | 6,500 | 10,500 | 61,500 | 12,000 | 73,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 500,000 | 480,500 | 0 | 5,001,000 | 980,500 | 5,981,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Breaking Out
Busting Out —it’s important to know technical terminology
Looks like something got yanked.