Precious Metals Decline Monday, March 5

Gold bullion and gold bullion coins
Precious metals futures declined Monday, March 5

Precious metals futures ended lower Monday as the U.S. dollar climbed against other world currencies.

Gold for April delivery fell $3.50, or 0.3%, to settle at $1,319.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Waning risk aversion in the market place early this week — evidenced by a solid rally in the U.S. stock market today — worked against the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Also, a firmer U.S. dollar index to start the trading week was a negative element for the metals markets."

Gold futures traded from a low of $1,318.30 to a high of $1,328.90. They shed 0.5% last week.

Silver for May delivery declined 5.4 cents, or 0.3%, to settle at $16.412 an ounce. Silver futures ranged from $16.37 to $16.62. They dipped 0.1% last week.

In other precious metals futures prices:

  • April platinum fell $3, or 0.3%, to $962.10 an ounce, trading between $956.90 and $974.10.

  • Palladium for June delivery lost $9.15, or 0.9%, to $977.50 an ounce, ranging from $972 to $994.35.

Last week, platinum dropped 3.4% and palladium sank 4.8%.

London Precious Metals Prices

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

  • Gold declined $1.90, or 0.1%, to $1,320.40 an ounce.
  • Silver added 6.5 cents, or 0.4%, to $16.51 an ounce.

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

Last week, LBMA metal prices recorded losses of 0.4% for gold, 1% for silver, 2.2% for platinum and 4.6% for palladium.

US Mint Bullion Sales in 2018

U.S. Mint bullion products logged their first gains in March. The agency’s American Gold Eagles advanced by a combined 3,500 ounces and its American Silver Eagles rose by 165,000 ounces.

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

US Mint Bullion Sales (# of coins)
Monday / March Last Week February 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 20,000 20,000
$50 American Eagle 1 Oz Gold Coin 2,500 0 5,000 43,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 0 5,000 95,000
$50 American Buffalo 1 Oz Gold Coin 0 500 2,500 26,500
$1 American Eagle 1 Oz Silver Coin 165,000 237,500 942,500 4,342,500
Pictured Rocks 5 Oz Silver Coin 0 20,000 20,000 20,000
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Old Collector

Day before Yesterday: “Precious metals decline”. Yesterday: “Precious metals rise”. Today: “Precious metals decline.” Tomorrow: “Precious metals rise”. Day after Tomorrow: “Precious metals decline”. Ho hum.

Old Collector

Just as I thought; nobody pays attention to this but the futures speculators.

Old Collector

Day by day in the precious metals futures world:


ad infinitum…

Wait just a minute; isn’t “infinitum” the most precious of metals?

Old Collector

Today diminutum plunged, infinitum skyrocketed, and oblivium went nowhere.