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|
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.
Just as I thought; nobody pays attention to this but the futures speculators.
Day by day in the precious metals futures world:
Wait just a minute; isn’t “infinitum” the most precious of metals?
Today diminutum plunged, infinitum skyrocketed, and oblivium went nowhere.