Gold Slips Below $1300, Silver Snaps 4-Session Win Streak

Layers of Gold Bullion
Gold, silver and other precious metals declined Monday

Gold broke away from a three-session win streak, ending the first day of the new trading week a buck below $1,300 an ounce.

Gold for June delivery dipped $1.80, or 0.1%, to settle at $1,299 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal traded through a fairly narrow range of $1,292.10 to $1,306.60.

"Gold ended the U.S. day session slightly lower Monday on a mild downside technical correction from recent gains that produced a bullish weekly high close last Friday," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily note. "Gold prices did finish the day up from the daily low. Some more safe-haven demand was a bullish factor limiting the selling pressure."

Gold, along with silver and palladium, climbed 0.5% last week.

Silver for May delivery dropped a dime, or 0.5%, to close at $19.59 an ounce. The loss was its first in five sessions. Prices on the day ranged from a low of $19.47 to a high of $19.76.

In PGM futures on Monday:

  • July platinum shed $4.60, or 0.3%, to $1,419.70 an ounce, trading between $1,414.30 and $1,432. The metal slipped 0.3% last week.

  • Also down for the first time in five sessions, palladium for June delivery lost $10.50, or 1.3%, to end at $800.70 an ounce. Palladium ranged from $794.50 to $813.60.

London Fix Precious Metals

Earlier fixed London precious metals split with gold and silver lower and platinum and palladium higher. In contrasting the London fix prices from Friday PM to Monday PM:

  • Gold declined $2.25, or 0.2%, to $1,299 an ounce,
  • Silver shed 6 cents, or 0.3%, to $19.60 an ounce,
  • Platinum gained $10, or 0.7%, to $1,428 an ounce, and
  • Palladium added $7, or 0.9%, to $812 an ounce

US Mint Bullion Sales in March

Sales totals for U.S. Mint bullion coins were unchanged Monday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, last month, this month so far, and the year-to-date.

American Eagle and Buffalo Bullion Sales (# of coins)
Monday Sales Sales Last Week March Sales April Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 100 10,000 1,000 11,000
$50 American Eagle Gold Bullion Coins 0 3,000 16,000 22,500 123,000
$25 American Eagle Gold Bullion Coins 0 0 2,000 1,000 18,000
$10 American Eagle Gold Bullion Coins 0 2,000 4,000 20,000 62,000
$5 American Eagle Gold Bullion Coins 0 5,000 30,000 35,000 275,000
$50 American Buffalo Gold Bullion Coins 0 1,000 12,000 14,000 79,500
$1 American Eagle Silver Bullion Coins 0 1,246,500 5,354,000 3,675,000 17,554,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins N/A* 600 12,400 10,600 23,000


*The U.S. Mint on Monday, April 21, said it temporarily sold out of Great Smoky Mountains National Park 5 Oz Silver Bullion Coins and that it would have additional inventory available in a few weeks.

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