Gold Rises Monday, Jan. 11; US Mint Silver Sales Surge

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In futures trading Monday, gold, silver and palladium gained while platinum declined. Silver performed the best among the winners, rallying 2.6%.

Gold for February delivery rose $15.40, or 0.8%, to settle at $1,850.80 an ounce on the Comex division of the New York Mercantile Exchange.

"The safe-haven metals are catching a bid to start the trading week as there are now more cross-currents in the marketplace than seen recently. Some perceived bargain hunting is also featured in gold and silver after their prices scored sharp declines last Friday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,817.10 to a high of $1,856. They traded 3.2% lower last week, ending Friday at their lowest price since Dec. 14.

Silver for March delivery tacked on 64.7 cents, or 2.6%, to settle at $25.284 an ounce. Silver futures traded between $24.36 and $25.60. They plummeted 6.7% last week, also ending Friday at their lowest level since Dec. 14.

In other precious metals futures prices on Monday:

  • April platinum fell $26.70, or 2.5%, to $1,044.60 an ounce, ranging from $1,011 to $1,077.70.

  • Palladium for March delivery gained $13.80, or 0.6%, to $2,378.80 an ounce, trading between $2,344.50 and $2,405.

Last week platinum lost 0.7% and palladium declined 3.6%.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold lost $15.65, or 0.8%, to $1,847.25 an ounce.
  • Silver dropped $1.62, or 6.1%, to $25.02 an ounce.

In LBMA results last week, prices declined 1% for gold, 2.7% for silver, 5.3% for platinum and 1.8% for palladium.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Monday by 1,846,000 ounces in silver coins and by a combined 23,500 ounces in gold coins.

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 December 2020 Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 12,500 43,500 48,500 747,500 56,000
$25 American Eagle 1/2 Oz Gold Coin 0 17,000 2,000 70,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 6,000 22,000 0 106,000 28,000
$5 American Eagle 1/10 Oz Gold Coin 35,000 60,000 0 350,000 95,000
$50 American Buffalo 1 Oz Gold Coin 6,000 20,500 10,500 242,000 26,500
$1 American Eagle 1 Oz Silver Coin 1,846,000 2,800,000 751,000 30,089,500 4,646,000
America Samoa 5 oz Silver Coin* 0 0 0 45,000 0
Weir Farm 5 oz Silver Coin* 0 0 0 45,000 0
Salt River Bay 5 oz Silver Coin* 0 0 0 45,000 0
Marsh Billings 5 oz Silver Coin* 0 0 0 45,000 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 45,000 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 56,500 0

 

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