Gold Climbs 0.6% in Start to Holiday-Shortened Trading Week

1

Gold, silver and platinum advanced in their start to the new trading week Tuesday with U.S. markets closed on Monday for the Martin Luther King Jr. Day holiday.

Gold for February delivery tacked on $10.30, or 0.6%, to settle at $1,840.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold may be getting some help from a weaker dollar today, but long-term Treasury yields are going up for the same reason the dollar is going down," MarketWatch quoted Michael Armbruster, managing partner at Altavest. "In the near-term, rising Treasury yields are negative for gold so we remain negative on gold prices despite a falling dollar."

Gold futures ranged from a low of $1,800.80 to a high of $1,845. They slipped 0.3% last week, ending Friday at their lowest price since Dec. 1.

Silver for March delivery added 45.4 cents, or 1.8%, to finish at $25.32 an ounce. Silver futures traded between $24.04 and $25.48. They gained 0.9% last week.

In other precious metals prices Wednesday:

  • April platinum edged up $2.10, or 0.2%, to $1,092 an ounce, ranging from $1,072 and $1,109.70.

  • Palladium for March delivery declined $30.10, or 1.3%, to $2,365 an ounce, trading between $2,353 and $2,408.

London Precious Metals Prices (LBMA)

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

  • Gold rose $1.65, or 0.09%, to $1,834.70 an ounce.
  • Silver added 43 cents, or 1.7%, to $25.295 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Tuesday. 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)
Tuesday / This Week Last Week December 2020 Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 72,500 48,500 747,500 116,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 70,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 6,000 0 106,000 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 35,000 0 350,000 95,000
$50 American Buffalo 1 Oz Gold Coin 0 6,000 10,500 242,000 26,500
$1 American Eagle 1 Oz Silver Coin 0 1,875,000 751,000 30,089,500 4,675,000
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
Subscribe
Notify of
guest
1 Comment
Inline Feedbacks
View all comments
Jake

Good read thank you! Remember there is no such thing as a stupid question just stupid people. Why does London value silver down to the thousandths?