Precious metals rebounded Wednesday, scoring their first advances in four sessions. The gains ranged from 1.1% for gold to 6.2% for palladium.
Gold for June delivery rose $21 to settle at $1,939 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are higher in midday U.S. trading Wednesday, on corrective bounces from recent selling pressure that pushed the metals to five-week lows on Tuesday. A strong bounce-back in crude oil prices from this week’s low of $98.44 in Nymex futures is also a bullish element for the metals markets, as well as the rest of the raw commodity sector," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from $1,920.10 to $1,943.40. They fell 1.4% on Tuesday, registering their lowest settlement since March 16, and they dipped 0.7% on Monday.
Silver for May delivery tacked on 37.7 cents, or 1.5%, to end at $25.113 an ounce. Silver futures traded between $24.85 and $25.27. They dropped 1.8% on Tuesday, also for their lowest finish since March 16, and they declined 1.6% on Monday.
In PGM futures on Wednesday:
-
July platinum added $22.40, or 2.3%, to $1,001.20 an ounce, ranging from $984.40 to $1,009.
- Palladium for June delivery jumped $130.40 to $2,243.10 an ounce, trading between $2,125.50 and $2,269.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales increased Wednesday, and for the first time this week, by a combined 31,500 ounces in gold coins.
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 / This Week | Last Week | January | February | March | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 19,000 | 52,500 | 123,500 | 86,000 | 140,500 | 350,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 3,000 | 45,000 | 0 | 5,000 | 50,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 6,000 | 64,000 | 4,000 | 20,000 | 88,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 25,000 | 195,000 | 25,000 | 75,000 | 295,000 |
| $50 American Buffalo 1 Oz Gold Coin | 11,000 | 26,500 | 61,500 | 28,500 | 64,500 | 154,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 480,500 | 5,001,000 | 1,500,000 | 1,080,500 | 7,581,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 3,000 | N/A | 25,800 | 14,200 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 |
Rolla Costa, of love, say what!
The way you swerve and curve, really wrecks my nerves!