Precious metals futures declined in their start to the new trading week as safe-havens dulled Monday under the glare of a rising U.S. dollar and stocks. Gold ended lower for a third straight session while silver slipped from a three-month high.
Gold for April delivery declined $10.10, or 0.8%, to settle at $1,225.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Bearish outside markets — lower crude oil prices and a firmer U.S. dollar index — worked against the precious metals bulls on this day," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Rallying world stock markets that are at or near record or multi-year highs are also a negative element for safe-haven gold."
Gold futures ranged from a low of $1,220.30 to a high of $1,234.40. They climbed 1.2% last week for their second straight weekly gain. Prices last closed up on Wednesday, when they clinched their own almost three-month high.
Closing lower for the first time in three sessions, silver for March delivery shed 11.2 cents, or 0.6%, to $17.821 an ounce. Silver futures traded between $17.75 and $18.02. On Friday, they ended at their highest point since Nov. 10 to lock in a sixth straight week of wins.
In other precious metals futures on Monday:
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April platinum fell $11.40, or 1.1%, to $1,000.30 an ounce, ranging from $995.50 to $1,014.20.
- Palladium for March delivery declined $8.15, or 1%, to $774.95 an ounce, trading between $772.65 and $787.80.
The two metals posted gains last week totaling 0.5% for platinum and 4.6% for palladium.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Friday PM to Monday PM:
- Gold fell $6.05, or 0.5%, to $1,222.25 an ounce.
- Silver rose 35 cents, or 2%, to $17.97 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 gains of 1.1% for gold, 2% for silver, 0.1% for platinum and 4.6% for palladium.
US Mint Bullion Coin Sales in 2017
U.S. Mint bullion sales posted increases of 3,500 ounces in gold coins and 75,000 ounces in silver coins.
Below is a sales breakdown of U.S. 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 | Jan Sales | Feb Sales | 2017 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 20,000 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 2,000 | 10,000 | 86,500 | 13,500 | 100,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 4,000 | 19,000 | 4,000 | 23,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 36,000 | 0 | 36,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 125,000 | 10,000 | 135,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,500 | 5,000 | 32,000 | 9,000 | 41,000 |
| $1 American Eagle 1 Oz Silver Coin | 75,000 | 250,000 | 5,127,500 | 325,000 | 5,452,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 17,700 | 100 | 17,700 | 17,700 |
| 2016 Shawnee 5 Oz Silver Coins* | – | ||||
| 2016 Cumberland Gap 5 Oz Silver Coin* | – | ||||
| 2016 Harpers Ferry 5 Oz Silver Coin | 0 | 0 | 100 | 0 | 0 |
| 2016 Theodore Roosevelt 5 Oz Silver Coin* | – | 800 | – | ||
| 2016 Fort Moultrie 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 |
