Precious metals futures were divided on Monday — though little changed overall — with platinum and palladium higher and gold and silver lower. Silver’s loss was its first in four sessions while gold broke its string of two gains in a row.
Gold for June delivery dipped 60 cents, or less than 0.1%, to end at $1,314.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Dollar strength has been the most persistent headwind for gold in recent weeks," Peter Grant, a vice president at Zaner Precious Metals, told MarketWatch.
The yellow metal "has displayed a modicum of resilience over the last several sessions, holding last week’s low at 1,300.67, even as the dollar index set new 4-month highs," he said.
Gold futures ranged from a low of $1,310.60 to a high of $1,320.10. They fell 0.7% last week for their third straight weekly decline.
Silver for July delivery shed 2.4 cents, or 0.2%, to finish at $16.495 an ounce. Silver futures traded between $16.43 and $16.60. They gained 0.7% last week.
In other precious metals futures prices on Monday:
July platinum added $3, or 0.3%, to $913.30 an ounce, ranging from $910.40 to $920.
- Palladium for June delivery added $4.85, or 0.5%, to $962.10 an ounce, trading between $960.60 and $973.90.
Last week, platinum fell 0.7% and palladium lost 0.6%.
London Precious Metals Prices
UK markets were closed for a bank holiday. On Friday, they registered losses with:
- Gold down $5.65, or 0.4%, to $1,309.40 an ounce.
- Silver down 5 cents, or 0.3%, to $16.415 an ounce.
- Platinum down $1, or 0.1%, to $901 an ounce.
- Palladium down $8, or 0.8%, to $963 an ounce.
Last week, LBMA metal prices posted losses of 0.9% for gold, 0.7% for silver, 1.1% for platinum and 2% for palladium.
US Mint Bullion Sales in 2018
United States Mint bullion coins have yet to log gains in May. 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 / May||Last Week||March||April||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||500||2,500||4,000||47,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||16,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||10,000||5,000||100,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||1,000||2,000||30,500|
|$1 American Eagle 1 Oz Silver Coin||0||230,000||915,000||915,000||6,007,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||10,000||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||0||N/A||30,000||30,000|