Gold Climbs for Second Session After Hitting 10.5-Month Low

Slim gold bars
Precious metals were mixed on Monday, with gold higher and silver, platinum and palladium lower

Gold futures climbed for a second straight session Monday, advancing from a recent 10.5-month low.

Gold for February delivery added $5.30, or 0.5%, to settle at $1,142.70 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices were ending the U.S. day session a bit firmer on some more short-covering in the futures market and perceived bargain-hunting in the cash market after hitting a 10-month low late last week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The precious metals bulls are still spooked by the recent powerful rally in the U.S. dollar index that last week hit a 13-year high."

Gold futures ranged from a low of $1,135.50 to high of $1,144.40. They dropped 2.1% last week, for their sixth straight weekly loss. On Thursday, prices settled at their lowest level since Feb. 2.

Meanwhile, silver for March delivery slipped 12.6 cents, or 0.8%, to settle at $16.089 an ounce. Silver futures traded between $15.95 and $16.27. They tumbled last week by 4.4%.

In other precious metals trading action on Monday:

  • January platinum declined $16.80, or 1.8%, to $917.30 an ounce, ranging from $915 to $931.90.

  • Palladium for March delivery lost $18.55, or 2.7%, to $678.70 an ounce, trading between $675.80 and $698.10.

Last week, the two metals split with platinum up by 2.1% and palladium down by 5.1%.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Friday PM to Monday PM:

  • Gold added $4.65, or 0.4%, to $1,136.25 an ounce.
  • Silver shed 5 cents, or 0.3%, to $16 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 of 2.8% for gold, 5.3% for silver, 2.3% for platinum and 7.5% for palladium.

US Mint Bullion Coin Sales in 2016

United States Mint bullion sales moved up by 2,500 ounces in American Buffalo gold coins. The Mint’s most popular 2016-dated bullion coins have sold out. New 2017-dated issues will go on sale Jan. 9.

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* 129,000 23,000 817,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 7,000 3,000 74,000
$10 American Eagle 1/4 Oz Gold Coins* 18,000 2,000 152,000
$5 American Eagle 1/10 Oz Gold Coins* 105,000 40,000 925,000
$50 American Buffalo 1 Oz Gold Coins 2,500 4,500 29,500 12,500 219,500
$1 American Eagle 1 Oz Silver Coins* 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 0 1,500 100 38,100
2016 Theodore Roosevelt 5 Oz Silver Coins* 6,600 800 40,000
2016 Fort Moultrie 5 Oz Silver Coins 0 0 27,800 0 27,800


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Jim c

Wow!! The us mint just took away my 2016 gold mercury dime !! On the second ordering day, 12-15 I was lucky enough to get my order in on time. Then while tracking the order I discovered that when in transit it was being sent back to the mint. So I called the first thing this morning and talked to costumer service.. After being put on hold several times I was told that it would be resent out to me. (The problem that got it sent back was that I transposed a number in the zip code) So now 12… Read more »


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