Gold Falls for Second Session, Silver Gains; US Coin Sales Rise

2 Silver Bullion Bars
Precious metals were mixed Monday with silver, platinum and palladium higher and gold lower

Most precious metals futures advanced in their start to the new trading week on Monday. Gold was the exception, falling for a second session in a row. After scoring a 13-month higher earlier in the month, the yellow metal has declined in six of the last seven sessions.

Gold for April delivery fell $10.10, or 0.8%, to settle at $1,244.20 an ounce on the Comex division of the New York Mercantile Exchange.

"We had quite a lot of news last week, whereas this week is relatively light, so there could be less trading and therefore a bit less momentum in prices… Also, the U.S. dollar has strengthened a bit," Reuters quoted Capital Economics analyst Simona Gambarini. "(But) we think this is just a short-term move, perhaps some profit taking by short-term investors."

Gold prices traded from a low of $1,241.20 to a high of $1,256.70. They edged lower last week by 0.4%.

Silver for May delivery added 3.6 cents, or 0.2%, to settle at $15.847 an ounce. Silver prices ranged from $15.72 to $15.93. Last week, they climbed 1.3%.

In other precious metals futures on Monday:

  • April platinum rose $11.30, or 1.2%, to $981.80 an ounce, trading between $962 and $983.

  • Palladium for June delivery added $12.90, or 2.2%, to $602.95 an ounce, ranging from $585.15 to $604.45.

The two metals gained last week — less than 0.1% for platinum and by 1.7% for palladium.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold fell $14.40, or 1.1%, to $1,252.10 an ounce.
  • Silver added 21 cents, or 1.3%, to $15.94 an ounce.

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

Last week, silver and palladium rose by 2.8% and 3% while gold and platinum fell by 1% and 0.2%.

US Mint Bullion Sales in 2016

United States Mint bullion products posted gains of 1,500 ounces in American Gold Eagles and 651,500 ounces in American Silver Eagles.

The U.S. Mint this week again limited sales of Silver Eagles to 1 million. The agency’s bullion distributors ordered 65.2% of them on Monday, leaving 348,500 left until more become available next week. Their cumulative total for the year is 13,651,500 coins, or 28.6% higher than through the same time in record year 2015.

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 Mar Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 0 5,500 89,000 67,500 18,000 174,500
$25 American Eagle 1/2 Oz Gold Coins 0 0 23,000 6,000 1,000 30,000
$10 American Eagle 1/4 Oz Gold Coins 0 0 36,000 12,000 4,000 52,000
$5 American Eagle 1/10 Oz Gold Coins 15,000 15,000 145,000 100,000 50,000 295,000
$50 American Buffalo 1 Oz Gold Coins 0 2,000 34,000 19,000 4,000 57,000
$1 American Eagle 1 Oz Silver Coins 651,500 1,000,000 5,954,500 4,782,000 2,915,000 13,651,500
2016 Shawnee 5 Oz Silver Coins 0 0 N/A 105,000 0 105,000


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