Gold, platinum and palladium declined in their start Monday to the holiday-shortened trading week. Silver, meanwhile, advanced 1.3% to score its best finish in more than three months.
Gold for February delivery gave back $6.10, or 0.3%, to settle at $1,882.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold has appreciated almost 7% this month and could extend gains if bulls are able to maintain control above $1900. But this level could prove to be reliable resistance, which means a decline back towards $1850 would be on the cards," MarketWatch quoted Lukman Otunuga, senior research analyst at FXTM.
Gold futures ranged from a low of $1,859 to a high of $1,912. They advanced 2.5% last week, for their third straight weekly increase.
Silver for March delivery tacked on 34.6 cents to settle at $26.379 an ounce. The settlement was silver’s highest since Sept. 18. Silver futures traded between $25.12 and $27.64. They rallied 8.1% last week.
In other precious metals futures prices on Monday:
January platinum declined $27, or 2.6%, to $1,016.10 an ounce, ranging from $926.40 to $1,060.70.
- Palladium for March delivery dropped $55.60, or 2.3%, to $2,316.40 an ounce, trading between $2,297 and $2,404.50.
Last week platinum rose 2.1% and palladium gained 1.7%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold edged up 25 cents, or 0.01%, to $1,880 an ounce.
- Silver added 34 cents, or 1.3%, to $26.155 an ounce.
In LBMA results last week, palladium dipped 0.04% while price rose 2.1% for gold, 8.4% for silver, and 2.9% for platinum.
US Mint Bullion Sales in 2020
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. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Monday||Last Week||October||November||December||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||12,000||64,500||77,000||42,500||741,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||6,000||4,000||0||68,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||8,000||10,000||0||106,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||25,000||35,000||0||350,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,500||19,500||23,500||8,500||240,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||3,397,000||4,805,000||751,000||30,089,500|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Tallgrass Prairie 5 oz Silver Coin*||0||0||0||0||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||56,500|