Gold prices settled higher for a fourth consecutive session Monday, supported by further losses in the U.S. dollar and improved safe-haven demand.
Gold for April delivery edged up $3.10, or 0.3%, to close at $1,187.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is being supported by jitters in European markets due to concerns about the Greek debt crisis, which looks like it may soon come to a head," MarketWatch quoted Dublin-based Mark O’Byrne, a director at GoldCore. "Greece is running out of cash quickly which is heightening the risk of a ‘Grexit’ and a return to the ‘drachma’, or alternatively to Cyprus style bail-ins."
Gold prices ranged from a low of $1,178.60 to a high of $1,188.80. Gold last week advanced by 2.8% — the biggest weekly gain since Jan. 16.
Silver for May delivery ended almost flat, up less than a penny to $16.89 an ounce. Silver prices traded from $16.61 to $16.99. They rallied 9% last week.
In rounding out the precious metals complex:
April platinum ended up $3.30, or 0.3%, to $1,144.50 an ounce, ranging from $1,134.10 to $1,149.20.
- Palladium for June delivery declined $8.40, or 1.1%, to $770.70 an ounce, trading between $770.20 and $782.
Last week, platinum rose 2.3% and palladium fell 1.2%.
London Fix Precious Metals
Earlier fixed London precious metals were flat to higher. In comparing London bullion Fix prices from Friday PM to Monday PM:
- Gold added $3.15, or 0.3%, to $1,186.25 an ounce,
- Silver jumped 56 cents, or 3.5%, to $16.73 an ounce,
- Platinum gained $12, or 1.1%, to $1,141 an ounce, and
- Palladium was unchanged at $778 an ounce.
Last week, palladium declined 1.6% while the others scored increases of 2.7% for gold, 4.3% for silver and 1.3% for platinum.
US Mint Bullion Coin Sales in March
United States Mint bullion sales advanced Monday with American Silver Eagles rising 534,000 and Homestead Five Ounce Silver Bullion Coins gaining 3,700.
In a year-to-date milestone, bullion Silver Eagles topped the 11 million mark to 11,154,000 for the year — higher than annual totals in 22 past years going back to the series start in 1986. The pace is near a record level. In year 2014 when Silver Eagle sales ended at a record 44,006,000, the coins by March 23, 2014 reached 11,808,500.
This listing of U.S. Mint bullion products show the number of coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Monday Sales||Last Week||February Sales||March Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||9,000||12,500||25,500||89,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||2,000||4,000||24,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||4,000||0||6,000||42,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||15,000||50,000||55,000||220,000|
|$50 American Buffalo 1 Oz Gold Coins||0||4,500||12,000||8,000||54,500|
|$1 American Eagle 1 Oz Silver Coins||534,000||637,000||3,022,000||2,602,000||11,154,000|
|2015 Homestead 5 Oz Silver Coins||3,700||0||20,000||11,700||31,700|