On Tuesday, the prices of precious metals rose for gold, silver, and platinum, while palladium experienced a decline.
Gold for April delivery increased by $5.20, or 0.3%, to settle at $2,044.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is seeing some short covering in the futures market and some perceived bargain hunting in the cash market. Precious metals traders are awaiting the next fundamental even to provide a spark to trading action. That may come with some U.S. inflation data coming out later this week," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
During the day, gold futures traded between $2,038.10 and $2,049.10. They gave back 0.5% on Monday.
Meanwhile, May silver — the new, most-active contract — edged up by 2.2 cents, 0.1%, to close at $22.757 an ounce. Silver futures ranged from $22.62 to $22.93. On Monday, they dropped by 2%.
In other precious metals prices on Tuesday:
-
April platinum added $15.90, or 1.8%, to $897 an ounce, trading between $883.10 and $901.70.
- Palladium for June delivery — the new, most-active contract — fell by $14.50, or 1.5%, to $952.20 an ounce, ranging from $945 to $982.50.
US Mint Bullion Sales in 2024
On Tuesday, for the first time since Feb. 15, the U.S. Mint published new bullion sales, which included gains of 8,000 ounces in American Gold Eagles, 8,000 ounces in American Gold Buffalos, and 850,000 ounces in American Silver Eagles.
The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Tuesday / This Week | Last Week | January | February | 2024 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 6,500 | 0 | 87,500 | 13,000 | 100,5000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 25,000 | 0 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 46,000 | 4,000 | 50,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 15,000 | 0 | 115,000 | 40,000 | 155,000 |
| $50 American Buffalo 1 Oz Gold Coin | 8,000 | 0 | 46,500 | 13,500 | 60,000 |
| $1 American Eagle 1 Oz Silver Coin | 850,000 | 0 | 4,900,000 | 1,700,000 | 6,600,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 |
We want bullion APtE and APdE for 2024….no mint is sucking their $1k gouging as a sheer skrewing