Precious metals futures settled lower Monday in exceptionally low-volume trading. Losses ranged from 0.4% for platinum to 3.4% for silver.
Gold for February delivery gave back on Monday exactly what it gained on Thursday, $7.60 or 0.7%. Prices settled at $1,068.30 an ounce on the Comex division of the New York Mercantile Exchange.
"The drop in oil prices overnight has reasserted some pressure on the gold and silver markets and although a softer tone may be expected this week, the metals should remain in a relatively tight range as the world gets ready to ring in 2016," said Peter Hug, global trading director, at Kitco Metals.
Gold prices traded from a low of $1,065.70 to a high of $1,076.50. They advanced 1% last week, their first weekly gain in three weeks.
Silver for March delivery tumbled 49.5 cents to settle at $13.884 an ounce. Silver prices ranged from $13.85 to $14.43. They surged last week by 2%.
In other precious metals futures:
January platinum fell $3.40 to $880.80 an ounce, trading between $874.80 and $896.
- Palladium for March delivery declined $7.30, or 1.3%, to $551.95 an ounce, ranging from $551.10 and $564.90.
Last week, platinum gained 2.7% and palladium edged up 0.1%.
London Precious Metals Prices
London markets had been closed since Thursday morning. Metal prices then were:
- Gold at $1,071.90 an ounce.
- Silver at $14.20 an ounce.
- Platinum at $874 an ounce.
- Palladium at $554 an ounce.
As for last week, gains included 0.9% for gold, 2.7% for silver, 2.6% for platinum and 0.2% for palladium.
US Mint Bullion Coin Sales
United States Mint bullion sales were unchanged Monday as of 3:40 p.m. ET. Below is a listing of U.S. Mint bullion products with 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||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins*||N/A||N/A||80,500||N/A||626,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||7,000||1,000||75,000|
|$10 American Eagle 1/4 Oz Gold Coins*||N/A||N/A||12,000||N/A||158,000|
|$5 American Eagle 1/10 Oz Gold Coins*||N/A||N/A||100,000||N/A||980,000|
|$50 American Buffalo 1 Oz Gold Coins||0||0||38,000||1,500||220,500|
|$1 American Eagle 1 Oz Silver Coins*||N/A||N/A||4,824,000||2,333,500||47,000,000|
|2015 Homestead 5 Oz Silver Coins*||N/A||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins*||45,000|
|2015 Bombay Hook 5 Oz Silver Coins*||45,000|
|2015 Saratoga 5 Oz Silver Coins*||N/A||35,800||9,200||45,000|