Gold and silver prices ended lower in their start to the new trading week. Pressured yet again by a stronger dollar, gold prices returned to below $1,200 an ounce.
Gold for June delivery settled down $5.30, or 0.4%, to $1,199.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session moderately lower Monday as a solid rally in the U.S. dollar index the past week has the precious metals markets once again on the defensive," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold prices traded between $1,196.10 and $1,209.30. Gold edged up last week by 0.3%.
Silver for May delivery shed 9 cents, or 0.6%, to settle at $16.29 an ounce. Prices ranged from $16.28 to $16.55. Silver tumbled 1.9% last week.
In rounding out the precious metals complex:
July platinum fell $16.70, or 1.4%, to $1,153.90 an ounce, trading between $1,149.10 and $1,175.30.
- Palladium for June delivery dipped $4.65, or 0.6%, to $771.40 an ounce, ranging from $765.15 to $788.
Both metals advanced last week — 1.4% for platinum an 4% for palladium.
London Precious Metals Prices
Earlier fixed London precious metals declined on Monday, except for palladium. In comparing London bullion prices from Friday PM to Monday PM:
- Gold lost $8.45, or 0.7%, to $1,198.90 an ounce,
- Silver fell 28 cents, or 1.7%, to $16.27 an ounce,
- Platinum declined $17, or 1.5%, to $1,154 an ounce, and
- Palladium added $2, or 0.3%, to $779 an ounce.
Last week, silver slipped 1.7% but the other London precious metals prices marked gains 0.7% for gold, 2.5% for platinum and 3.5% for palladium.
US Mint Bullion Coin Sales in April
United States Mint bullion sales moved higher on Monday with American Gold Eagles climbing 1,500 ounces and American Silver Eagles gaining 135,500 ounces.
In the latest bullion Silver Eagle milestone, sales topped the 13 million mark to 13,049,500 for the year. While the tally is higher than annual sales in 22 past years, going back to the series start in 1986, it is below the record pace. In year 2014 when American Silver Eagle sales ended at a record 44,006,000, the coins by April 13, 2014 reached 15,222,500.
This listing of U.S. Mint bullion products show 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||March Sales||April Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||1,000||1,500||35,000||2500||101,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||5,000||2,000||27,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||2,000||8,000||2,000||46,000|
|$5 American Eagle 1/10 Oz Gold Coins||5,000||10,000||70,000||15,000||250,000|
|$50 American Buffalo 1 Oz Gold Coins||0||2,500||9,500||4,000||60,000|
|$1 American Eagle 1 Oz Silver Coins||135,500||771,000||3,519,000||978,500||13,049,500|
|2015 Homestead 5 Oz Silver Coins*||–||15,000||–||35,000|