Gold and silver futures settled modestly lower in their start to the new trading week on Monday.
Gold for June delivery shed $4.20, or 0.3%, to close at $1,219.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session modestly lower Monday, amid an improving general world trader/investor risk appetite," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "There was no major, fresh fundamental news in the marketplace Monday to influence the precious metals."
Gold prices ranged from a low $1,215.70 to a high of $1,224.10. They climbed 0.2% last week for their first weekly gain in four weeks.
Silver for May delivery declined 10.2 cents, or 0.7%, to close at $14.911 an ounce. The settlement was the lowest since March 1 when the silver ended at $14.756 an ounce. Silver prices traded between $14.89 and $15.11. Last week, they declined 1%.
July platinum fell $11.70, or 1.2%, to $943.50 an ounce, ranging from $941.20 to $961.30.
- Palladium for June delivery declined $8.50, or 1.5%, to $552.40 an ounce, trading between $550 and $565.75.
The two precious metals were mixed last week with platinum rising 0.3% and palladium falling 2.1%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $6.15, or 0.5%, to $1,219.75 an ounce.
- Silver fell 42 cents, or 2.7%, to $14.96 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, gold and palladium fell by 0.6% and 3.1%; silver rose 0.7%; and platinum was unchanged.
US Mint Bullion Sales in 2016
U.S. Mint bullion coins jumped on Monday with sales of:
- 651,000 ounces in American Silver Eagles;
- 8,000 ounces in American Gold Eagles; and
- 500 ounces in American Gold Buffalos.
Earlier on Monday, the U.S. Mint announced that this week’s limit of American Silver Eagles was set at 1,042,500 coins. Bullion distributors ordered 62.4% of them to start the week. The Silver Eagle’s cumulative sales total for this year is at 15,608,500 coins, or 28.5% 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||Last Week||Jan Sales||Feb Sales||Mar Sales||Apr Sales||2016 Sales|
|$50 American Eagle 1 Oz Gold Coins||7,000||6,000||89,000||67,500||29,000||8,000||193,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||23,000||6,000||1,000||0||30,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||0||36,000||12,000||4,000||0||52,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||25,000||145,000||100,000||75,000||10,000||330,000|
|$50 American Buffalo 1 Oz Gold Coins||500||2,000||34,000||19,000||7,000||500||60,500|
|$1 American Eagle 1 Oz Silver Coins||651,000||957,500||5,954,500||4,782,000||4,106,000||766,000||15,608,500|
|2016 Shawnee 5 Oz Silver Coins||0||0||N/A||105,000||0||0||105,000|