Gold futures climbed for a second straight session Monday, advancing from a recent 10.5-month low.
Gold for February delivery added $5.30, or 0.5%, to settle at $1,142.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices were ending the U.S. day session a bit firmer on some more short-covering in the futures market and perceived bargain-hunting in the cash market after hitting a 10-month low late last week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The precious metals bulls are still spooked by the recent powerful rally in the U.S. dollar index that last week hit a 13-year high."
Gold futures ranged from a low of $1,135.50 to high of $1,144.40. They dropped 2.1% last week, for their sixth straight weekly loss. On Thursday, prices settled at their lowest level since Feb. 2.
Meanwhile, silver for March delivery slipped 12.6 cents, or 0.8%, to settle at $16.089 an ounce. Silver futures traded between $15.95 and $16.27. They tumbled last week by 4.4%.
In other precious metals trading action on Monday:
January platinum declined $16.80, or 1.8%, to $917.30 an ounce, ranging from $915 to $931.90.
- Palladium for March delivery lost $18.55, or 2.7%, to $678.70 an ounce, trading between $675.80 and $698.10.
Last week, the two metals split with platinum up by 2.1% and palladium down by 5.1%.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Friday PM to Monday PM:
- Gold added $4.65, or 0.4%, to $1,136.25 an ounce.
- Silver shed 5 cents, or 0.3%, to $16 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, London bullion prices registered declines of 2.8% for gold, 5.3% for silver, 2.3% for platinum and 7.5% for palladium.
US Mint Bullion Coin Sales in 2016
United States Mint bullion sales moved up by 2,500 ounces in American Buffalo gold coins. The Mint’s most popular 2016-dated bullion coins have sold out. New 2017-dated issues will go on sale Jan. 9.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Monday Sales||Last Week||Nov Sales||Dec Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins*||–||129,000||23,000||817,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||7,000||3,000||74,000|
|$10 American Eagle 1/4 Oz Gold Coins*||–||18,000||2,000||152,000|
|$5 American Eagle 1/10 Oz Gold Coins*||–||105,000||40,000||925,000|
|$50 American Buffalo 1 Oz Gold Coins||2,500||4,500||29,500||12,500||219,500|
|$1 American Eagle 1 Oz Silver Coins*||–||3,061,000||240,000||37,701,500|
|2016 Shawnee 5 Oz Silver Coins*||–||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||–||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||1,500||100||38,100|
|2016 Theodore Roosevelt 5 Oz Silver Coins*||–||6,600||800||40,000|
|2016 Fort Moultrie 5 Oz Silver Coins||0||0||27,800||0||27,800|