Precious metals fell Monday, logging declines ranging from 0.3% for platinum to 5.9% for palladium. Gold’s loss was its first in four sessions.
Gold for June delivery lost $7.30, or 0.6%, to settle at $1,281.50 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures ranged from a low of $1,279.90 to a high of $1,289.10. They rose 1% last week for their first weekly advance in five weeks.
Silver for July delivery — the new, most active contract — gave back 15.5 cents, or 1%, to settle at $14.933 an ounce. Silver futures traded between $14.90 abd $15.12. They climbed 0.3% last week.
In other precious metals prices Monday:
July platinum declined $2.30 to $901.30 an ounce, ranging from $891.80 to $905.30.
- Palladium for June delivery sank $85.20 to $1,362 an ounce, trading between $1,353.70 and $1,457.20.
"This dramatic [pallaidum] sell-off is a bit technical in nature as we started sliding through some key support levels as an extension of the downside with exasperated long liquidation in the market," Reuters quoted David Meger, director of metals trading at High Ridge Futures.
The two metals moved opposite of each other last week with platinum dipping just 10 cents and palladium surging 3.5%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM
- Gold declined $4.70, or 0.4%, to $1,279.50 an ounce.
- Silver fell 3 cent, or 0.2%, to $14.97 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, platinum fell 0.1% while other metal prices registered increases totaling 0.7% for gold, 0.3% for silver and 2.6% for palladium.
US Mint 2019 Bullion Sales
United States Mint bullion sales were unchanged. 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||Last Week||February||March||April||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||1,800||2,400||4,000||3,900||37,400|
|$50 American Eagle 1 Oz Gold Coin||0||2,500||11,000||8,500||5,500||69,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||1,000||1,000||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||2,000||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||15,000||15,000||10,000||135,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||6,000||5,500||5,000||40,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||2,057,500||850,000||550,000||7,475,000|
|Lowell 5 Oz Silver Coin||0||0||N/A||80,000||0||80,000|