Precious Metals Rise; Pictured Rocks 5 oz Bullion Coin Launches

closeup of gold bullion
Advances in precious metals futures ranged from 0.3% for platinum to 1.4% for palladium

Precious metals futures moved ahead in their start to the new trading week on Monday. Most of them gained little.

Gold for April delivery climbed $2.50, or nearly 0.2%, to finish at $1,332.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Feb. 16.

"A rebound in the U.S. dollar index from its overnight lows as the U.S. trading session progressed helped to limit buying interest in the precious metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Also, big rallies in the U.S. stock indexes that have now taken back all of their February losses were a negative for the safe-haven metals markets today."

Gold futures traded from a low of $1,328 to a high of $1,342.90. They gave back 1.9% last week for their largest weekly decline of the year.

Silver for March delivery added 6.6 cents, or 0.4%, to end at $16.55 an ounce. Silver futures ranged from $16.43 to $16.72. They lost 1.4% last week.

In other precious metals futures on Monday:

  • April platinum turned up $3, or 0.3%, to $1,001.80 an ounce, trading between $996 and $1,010.

  • Palladium for June delivery — the new, most active contract — gained $14.05, or nearly 1.4%, to $1,054.45 an ounce, ranging from $1,039.60 to $1,060.20.

Last week, platinum fell 1.3% and palladium gained 0.5%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold added $5.55, or 0.4%, to $1,333.50 an ounce.
  • Silver added 6 cents, or 0.4%, to $16.67 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

Last week in LBMA metal prices, palladium rose 0.4% while the others registered declines of 1.8% for gold, 1.3% for silver, and 1.5% for platinum.

US Mint Bullion Sales in 2018

Photo of 2018-S Pictured Rocks National Lakeshore Quarter
A CoinNews photo of a Pictured Rocks National Lakeshore quarter. The U.S. Mint is accepting orders for its 5-ounce Pictured Rocks America the Beautiful Silver Bullion Coin. It shares the quarter’s designs.

U.S. Mint bullion products logged gains of 500 ounces in gold coins and 337,500 ounces in silver coins.

A portion of the silver sales included the first 2018-dated America the Beautiful Five Ounce Silver Bullion Coin. Emblematic of Pictured Rocks National Lakeshore in Michigan — just like the companion quarter, its first-day sales reached 20,000 coins for 100,000 ounces.

Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Monday Last Week December January February 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 N/A N/A 20,000 20,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 38,000 36,000 5,000 41,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 3,000 16,000 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 26,000 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 25,000 80,000 5,000 85,000
$50 American Buffalo 1 Oz Gold Coin 500 0 14,000 24,000 2,500 26,500
$1 American Eagle 1 Oz Silver Coin 237,500 70,000 742,000 3,235,000 942,500 4,177,500
Pictured Rocks 5 Oz Silver Coin 20,000 N/A 20,000 20,000
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The – American the Beautiful coin is a hit and should be. My hat goes off the the designer of this beauty. On a different note: I have commissioned a very close friend / brother / finest artist I know to design a 3 series bullion coin (my rough design – needing art grade design and polish) that I am going to have minted. Still in negotiation with two private mints over cost / competition is a good thing and I expect quality and craftsmanship. Exciting times. I adore numismatics / bullion / and plan to leave my mark. Cheers… Read more »

Joe Brown

Mouse – Best of wishes! to you & your bro* with some effort & deep thinking, a few bucks, you can pull it off! It would be nice* to sea one*day on coin news. Keep it*

Old Collector

Mouse – You are most certainly imbued with the original entrepreneurial spirit. Good for you for helping to keep that drive alive, and all the best to you with your unique personal minting venture!

Joe C.

Joe brown, Old Collector,
You two seem to hit it off well. Maybe you two should go into business together.

Joe Brown

Joe C. – you & all here are in *this business all*together or not-all*together! on what ever the issue* is. Like it or not.

Joe C.

Joe Brown,
I was just sayin’ you two would make a good team.

Old Collector

Joe C,

I appreciate your suggestion, especially as Joe Brown and I obviously do connect well in our online literary intersections; that being said, yours truly Old Collector here is exactly that, old far beyond the age of possessing any remaining semblance of entrepreneurial desire and it’s typically-required energy level. I’m happy to slowly and steadily slip ever further into the peace and comfort of my well-earned retirement and to let other, younger and more agile folks do the heavy lifting in my stead now.

As my Buddhist best buddy (rest his soul) was given to saying,

Joe C.

Old collector,
One wise man.

Old Collector

However, and all that being said, I do have a perfectly good, only slightly used bridge in Brooklyn for sale along with some mighty nice perfect for development swampland in Florida.

Joe Brown

*Joe C. i’m *smiling at my stupid last three words, *like it or not* well! 4 words! I have to say! that*s what happens when i use my own mind, i,m as bright a melting,melting,birthday*candle! after a 3 year old spits on the 3*candles 3 times, trying to blow it out! Now that i* recall! my worst half was about me*, I tell ya! she like a giant moeskitoe that i keep on slap,in at the back of my neck>M>>>>>>>>>just>>>>>>fly!!!!00FF!>>>her>fingertips! That’s a deaf*fin*it! cheap 10-karet*defect i* can work on! Her & my older-sister, are the only two i* know! who… Read more »

Joe Brown

good,luck, making that peace of work out just proof red it D+ tho enough to graduate* thanks coin news for putting up with it, i just don’;t know* may*be, sheb can;t be right, B*F*S! just!NUTS!* i tell ya! nut,me* with the fool*+*on the hill*JUST!*NUTS! i*tell,ya!

Old Collector

No matter how many people want to get from here to there, enough paths exist for everyone to have one of their own…. “I give thanks everyday that I’ve been able to take my craziness and make it work for me.” (Fritz Scholder) “We all exist in our own personal reality of craziness.” (Alejandro Jodorowsky) “When you’re the only sane person, you look like the only insane person.” (Criss Jami) “Feeling lost, crazy and desperate belongs to a good life as much as optimism, certainty and reason.” (Alain de Botton) “One person’s craziness is another person’s reality.” (Tim Burton) “You… Read more »

Joe Brown

Old Coolector – I* total*y idennafyi*, with Criss Jami*! & chill loud to mellow Jimi*Hendrix!smile*