Gold futures recorded gains on Monday for the first time in three sessions, climbing from a 10-month low.
Gold for February delivery turned up $3.90, or 0.3%, to settle at $1,165.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Some bargain hunting in the cash market and short covering in the futures market were featured," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Still, bearish technical charts and a keener ‘risk-on’ psychology in the marketplace at present remain significantly bearish elements for safe-haven gold."
Gold futures ranged from a low of $1,152.50 to a high of $1,167.90. They lost 1.4% last week, closing at their lowest price since Feb. 5 and extending their streak of weekly losses to five in a row.
Elsewhere, silver for March delivery settled up 22 cents, or 1.3%, to $17.187 an ounce. Silver futures traded between $16.73 and $17.27. The advanced last week by 0.8%.
In other precious metals dealings Monday:
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January platinum rose $18.70, or 2%, to $933.70 an ounce, ranging from $910.80 to $936.30.
- Palladium for March delivery fell $7.50, or 1%, to $727.55 an ounce, trading between $723.20 and $737.75.
Last week, the two metals fell by 1.9% and 1.4%.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Friday PM to Monday PM:
- Gold declined $7.50, or 0.6%, to $1,156.10 an ounce.
- Silver declined 9 cents, or 0.5%, to $16.86 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, gold lost 0.8% while other London bullion prices registers gains of 3.7% for silver, 0.8% for platinum, and 0.1% for palladium.
US Mint Bullion Coin Sales in 2016
U.S. bullion sales advanced by 1,000 ounces in one-half ounce American Gold Eagles and by 1,500 ounces in American Buffalo gold coins. Most of the Mint’s other 2016-dated bullion coins sold out.
Below is a sales breakdown of U.S. Mint bullion products with columns listing 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 | 2016 Sales | |
| $100 American Eagle 1 Oz Platinum Coins* | – | 20,000 | |||
| $50 American Eagle 1 Oz Gold Coins* | – | 23,000 | 129,000 | 23,000 | 817,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 1,000 | 2,000 | 7,000 | 3,000 | 74,000 |
| $10 American Eagle 1/4 Oz Gold Coins* | – | 2,000 | 18,000 | 2,000 | 152,000 |
| $5 American Eagle 1/10 Oz Gold Coins* | – | 40,000 | 105,000 | 40,000 | 925,000 |
| $50 American Buffalo 1 Oz Gold Coins | 1,500 | 5,500 | 29,500 | 7,000 | 214,000 |
| $1 American Eagle 1 Oz Silver Coins* | – | 240,000 | 3,061,000 | 240,000 | 37,701,500 |
| 2016 Shawnee 5 Oz Silver Coins* | – | 105,000 | |||
| 2016 Cumberland Gap 5 Oz Silver Coins* | – | 75,000 | |||
| 2016 Harpers Ferry 5 Oz Silver Coins | 0 | 100 | 1,500 | 100 | 38,100 |
| 2016 Theodore Roosevelt 5 Oz Silver Coins* | – | 800 | 6,600 | 800 | 40,000 |
| 2016 Fort Moultrie 5 Oz Silver Coins | 0 | 0 | 27,800 | 0 | 27,800 |
