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|