In precious metals prices Monday, palladium edged lower while gold, silver and platinum gained. Gold returned to above $1,700 an ounce following three straight session losses
Gold for June delivery rose $12.40, or 0.7%, to settle at $1,711.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is rising on bets that the unprecedented global monetary stimulus (measures) will only rise and after the historic turmoil in the oil industry reminded everyone that we are far away from seeing a return of normal global economic activity," Reuters quoted Edward Moya, a senior market analyst at broker OANDA.
Gold futures ranged from a low of $1,685 to a high of $1,718.40. They declined 3.1% last week.
Silver for May delivery tacked on 31.9 cents, or 2.1%, to settle at $15.614 an ounce. Silver futures traded between $15.21 and $15.69. They fell 4.7% last week.
In other precious metals futures prices on Monday:
July platinum added $10.70, or 1.4%, to $796 an ounce, ranging from $785.30 to $803.10.
- Palladium for June delivery shed $3.40, or 0.2%, to $2,127.50 an ounce, trading between $2,104.90 and $2,159.20.
Last week, platinum rallied 4.9% and palladium rose 1%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold lost $6.35, or 0.4%, to $1,686.20 an ounce.
- Silver dipped a cent, or 0.07%, to $15.15 an ounce.
In LBMA results last week, gold rose 0.7%, silver dipped 0.1%; platinum jumped 6.1% and palladium slipped 0.6%.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Monday according to published figures from the agency. In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported.
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||January||February||March||April||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||11,000||38,000||3,500||133,000||56,500||231,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||23,000||2,000||8,000||0||33,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||18,000||2,000||20,000||0||40,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||60,000||20,000||95,000||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||4,000||21,000||1,000||47,500||4,000||73,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||3,846,000||650,000||5,482,500||350,000||10,328,500|
|$1 American Eagle 1 Oz Platinum Coin||0||1,500||14,500||9,300||31,200||1,500||56,500|