Gold Logs First Loss in Four Sessions; US Mint Bullion Coins Rise

gold bullion
Precious metals futures declined with losses ranging from less than 0.1% for palladium to 1.7% for gold

Gold futures on Monday posted their first lost in four sessions, pressured as investors cashed in profits and chose riskier bets.

Gold for April delivery declined $20.70, or 1.7%, to settle at $1,210.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session about where they started it Monday — solidly lower," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Profit-taking pressure from recent gains, a higher U.S. dollar index on this day, and a generally improving risk sentiment in the world marketplace early this week all worked against the safe-haven metal."

Gold prices traded from a low of $1,202.50 to a high of $1,226.90. Last week, they declined 0.7 for their first weekly loss in five weeks. The yellow metal has advanced 14.1% so far this year.

Meanwhile, silver for March delivery declined 18.9 cents, or 1.2%, to close at $15.184 an ounce. Silver prices ranged from $14.95 to $15.37. They dropped last week by 2.6%. Silver is still about 10% higher since ending last year at $13.80 an ounce.

In other precious metals futures on Monday

  • April platinum lost $17.80, or 1.9%, to $927.80 an ounce, trading between $920 and $943.50.

  • Palladium for March delivery dipped 40 cents, or less than 0.1%, to $498.65 an ounce, ranging from $496.20 to $503.15.

Last week, platinum fell 1.3% and palladium plunged 5.3%.

London Precious Metals Prices

Earlier fixed London gold and silver prices also declined. In comparing their levels from Friday PM to Monday PM:

  • Gold fell $20.15, or 1.6% to $1,211 an ounce.
  • Silver fell 37 cents, or 2.4%, to $15 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

Last week, London bullion prices registered declines totaling 0.7% for gold, 1.7% for silver, 1.7% for platinum and 4.8% for palladium.

US Mint Bullion Sales in 2016

United States Mint bullion sales posted gains of 7,500 ounces in gold coins and 873,500 ounces in silver coins.

The U.S. Mint is rationing Silver Eagle sales because of silver planchet shortages. Earlier Monday, the Mint announced its weekly Silver Eagle allocation at 1,073,500 coins. Mint distributors ordered 70.9% of those, leaving 312,500 until more become available next week. The 2016 American Silver Eagle cumulative total stands at 9,687,500 coins since going on sale Jan. 11. Last year’s 2015-dated Silver Eagle ended at a record 47 million coins with sales through Feb. 22, 2015 reaching 7,774,500 coins.

Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.

US Mint Bullion Sales (# of coins)
Monday Sales Last Week Jan Sales Feb Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 4,500 17,500 89,000 57,000 146,000
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 23,000 5,000 28,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 6,000 36,000 10,000 46,000
$5 American Eagle 1/10 Oz Gold Coins 25,000 20,000 145,000 75,000 220,000
$50 American Buffalo 1 Oz Gold Coins 0 6,500 34,000 12,500 46,500
$1 American Eagle 1 Oz Silver Coins 761,000 926,500 5,954,500 3,733,000 9,687,500
2016 Shawnee 5 Oz Silver Coins 22,500 0 N/A 97,500 97,500
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Seth Riesling

CoinNews readers – Just FYI For those of you who have asked in the past about the U.S. Mint’s silver, gold & platinum bullion version coin official “Authorized Purchasers” (AP), the following is an official list from the Mint’s Disclosure Officer as of February 18, 2016. If you are not purchasing the bullion version silver, gold & platinum American Eagle coins & 5-oz ATB bullion version silver coins or bullion version American Buffalo gold coins from these companies, then you are purchasing from a “middleman” & are therefore probably paying a higher price/premium for those coins. The list includes a… Read more »