Gold futures settled lower in their start to the new trading week on Monday as investors sought riskier assets.
Gold for June delivery gave back $11.60, or 0.9%, to finish at $1,277.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices were ending the U.S. day session lower but up from the daily low Monday, as safe-haven assets were hit hard by rallying risk assets that include world stock markets and the Euro currency," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
"Other Safe-haven assets, U.S. Treasuries and U.S. dollar index prices, also saw price declines Monday as the world stock markets were in rally mode," Wyckoff added.
Gold futures ranged from a low of $1,266 to a high of $1,280. They edged up 60 cents last week for their sixth consecutive weekly gain. As recently as Tuesday, they closed at a 5-1/2-month high.
Eking out a gain, their first in five sessions, silver futures for May added less than a half-cent to end at $17.858 an ounce. Silver futures traded between $17.55 and $17.90. They sank 3.5% last week.
In other precious metals futures on Monday:
-
July platinum fell $17.40, or 1.8%, to $960.20 an ounce, ranging from $955.50 to $975.10.
- Palladium added $4.70, or 0.6%, to $795.45 an ounce, trading between $789.15 and $800.10.
The two metals divided last week with platinum up 20 cents and palladium down 0.7%.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Friday PM to Monday PM:
- Gold declined $12.45, or 1%, to $1,269.40 an ounce.
- Silver fell 17 cents, or 1%, to $17.81 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, platinum rose 0.4% with the other London metal prices dropped by 0.2% for gold, 3.1% for silver, and 0.5% for palladium.
US Mint Bullion Coin Sales in 2017
U.S. Mint bullion products registered gains of 2,000 ounces in gold coins and 242,000 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 | Mar Sales | April Sales | 2017 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 500 | 0 | 16,000 | 3,000 | 126,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 0 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 4,000 | 2,000 | 46,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 10,000 | 5,000 | 35,000 | 20,000 | 210,000 |
| $50 American Buffalo 1 Oz Gold Coin | 500 | 500 | 8,500 | 3,000 | 58,500 |
| $1 American Eagle 1 Oz Silver Coin | 235,000 | 220,000 | 1,615,000 | 835,000 | 8,792,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 300 | 200 | 900 | 20,600 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 1,400 | 4,200 | N/A | 17,600 | 17,600 |
