Gold and silver futures rebounded Monday after sharp prior-session losses. Gold’s gain was the first since Wednesday, Feb. 4.
Gold for April delivery tacked on $6.90, or 0.6%, to close at $1,241.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session modestly higher Monday, on some safe-haven demand and by an upside technical correction following Friday’s strong losses that pushed prices to a three-week low," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The key ‘outside markets’ were also in a bullish posture for the precious metals Monday, as the U.S. dollar index was lower and crude oil prices were solidly higher."
Gold prices ranged from a low of $1,234.40 to a high of $1,243.60. Last week gold tumbled by 3.5%, led by a loss of more than $28 on Friday.
In rounding out the precious metals complex:
Silver for March delivery jumped 38 cents, or 2.3%, to $17.07 an ounce, trading between $16.69 and $17.15.
April platinum declined $1.20, or 0.1%, to $1,220.40 an ounce, ranging from $1,210 to $1,231.30.
- Palladium for March delivery dipped $1.65, or 0.2%, to $779.65 an ounce, trading between $776 and $787.50.
Last week, silver and palladium tagged losses of 3% and 1.3% while palladium gained 1.2%.
London Fix Precious Metals
Earlier fixed London precious metals retreated. In comparing London bullion Fix prices from Friday PM to Monday PM:
- Gold dipped $2.50, or 0.2%, to $1,238.50 an ounce,
- Silver declined a quarter, or 1.5%, to $16.97 an ounce,
- Platinum fell $24, or 1.9%, to $1,215 an ounce, and
- Palladium shed $8, or 1%, to $778 an ounce.
Last week, gold fell 1.5% while the other fixings advanced by 1.8% for silver, 1.5% for platinum and 1.4% for palladium.
US Mint Bullion Coin Sales in February
United States Mint bullion sales were unchanged as of 3:40 PM ET. Below are sales of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, in January, the month so far, and the year-to-date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Monday Sales||Last Week||January Sales||February Week||YTD Sales|
|$100 American Platinum Eagle Bullion Coins*||0||0||0||0||0|
|$50 American Eagle Bullion Gold Coins||0||2,000||51,500||2,000||53,500|
|$25 American Eagle Bullion Gold Coins||0||0||18,000||0||18,000|
|$10 American Eagle Bullion Gold Coins||0||0||36,000||0||36,000|
|$5 American Eagle Bullion Gold Coins||0||5,000||115,000||5,000||120,000|
|$50 American Buffalo Bullion Gold Coins||0||2,000||34,500||2,000||36,500|
|$1 American Eagle Silver Bullion Coins||0||752,000||5,530,000||752,000||6,282,000|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins*||0||0||0||0||0|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||0||600||0||600|
|Arches National Park 5 Oz Silver Bullion Coins*||0||0||0||0||0|
|Great Sand Dunes 5 Oz Silver Bullion Coins*||0||0||0||0||0|
|Everglades 5 Oz Silver Bullion Coins*||0||0||0||0||0|
Coins with an asterisk (*) have sold out for 2014 with 2015-dated versions yet to be released.