Most precious metals futures gained Monday. Gold prices finished ahead for a fourth straight session, registering a one-week high.
Gold for April delivery settled up $6.10, or 0.4%, to $1,579.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since last Monday, Feb. 3.
Gold "seems poised to make another run at the $1,600 level and if it can get there, we could easily see a failed triple-top pattern open the door for a move to the $1,640 region," Edward Moya, senior market analyst at Oanda, said in a daily update reported by MarketWatch.
Gold futures ranged from a low of $1,571.50 to a high of $1,580.50. They lost 0.9% last week, for their first weekly decline in seven weeks.
Silver for March rose 9.3 cents, or 0.5%, to settle at $17.785 an ounce. Silver futures traded between $17.66 and $17.83. They dropped 1.8% last week.
In other precious metals prices on Monday:
April platinum declined $2.30, or 0.2%, to $966.90 an ounce, ranging from $956.30 to $978.10.
- Palladium for March delivery advanced $39.60, or 1.8%, to $2,249.80 an ounce, trading between $2,206 and $2,278.70. On Wednesday, palladium logged a record close at $2,335.60 an ounce.
Last week, platinum rose 0.8% and palladium declined 0.7%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold edged 55 cents, or 0.03%, higher to $1,573.20 an ounce.
- Silver added 1.5 cents, or 0.08%, to $17.785 an ounce.
In LBMA results last week, prices fell 0.7% for gold and 0.6% for silver while they moved ahead 1.3% for platinum and 0.1% for palladium.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged according to available figures from the Mint’s website. 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)|
|This Week / February||November||December||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||8,000||2,000||38,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||5,000||0||23,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||18,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||60,000|
|$50 American Buffalo 1 Oz Gold Coin||0||5,000||1,500||21,000|
|$1 American Eagle 1 Oz Silver Coin||0||463,000||0||3,846,000|
|$1 American Eagle 1 Oz Platinum Coin||0||463,000||0||14,500|