Metals Decline Monday, Jan. 25

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Precious metals traded lower Monday with losses ranging from less than 0.1% for gold to 0.8% for palladium. Gold’s decline, while modest, was its third in a row.

Gold for February delivery slipped $1, or 0.05%, to settle at $1,855.20 an ounce on the Comex division of the New York Mercantile Exchange.

"The gold and silver bulls have stabilized the price action and are now awaiting the next catalyst to break prices out of their near-term trading ranges," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily researh note.

Gold futures ranged from a low of $1,847.30 to a high of $1,867.40. They gained 1.4% last week.

Silver for March delivery shed 7.2 cents, or 0.3%, to settle at $25.484 an ounce. Silver futures traded between $25.47 and $25.84. They surged 2.8% last week.

In other precious metals futures prices on Monday:

  • April platinum lost $6.90, or 0.6%, to $1,104.70 an ounce, ranging from $1,086.20 to $1,125.30.

  • Palladium for March delivery gave back $18.30 to $2,346.90 an ounce, trading between $2,320 and $2,386.50.

Last week platinum gained 2% and palladium declined 1.3%.

London Precious Metals Prices (LBMA)

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

  • Gold added $4.15, or 0.2%, to $1,856.85 an ounce.
  • Silver increased 31.5 cents, or 1.2%, to $25.635 an ounce.

In LBMA results last week, prices for palladium dropped 2.8% while those for gold and platinum each rose 0.7%. LBMA silver prices edged 0.3% higher last week.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Monday by a combined 59,000 ounces in American Gold Eagles.

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 54,500 16,000 48,500 747,500 186,500
$25 American Eagle 1/2 Oz Gold Coin 5,000 0 2,000 70,000 22,000
$10 American Eagle 1/4 Oz Gold Coin 8,000 0 0 106,000 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 350,000 95,000
$50 American Buffalo 1 Oz Gold Coin 0 29,500 10,500 242,000 56,000
$1 American Eagle 1 Oz Silver Coin 0 100,000 751,000 30,089,500 4,775,000
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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Jake

Did someone say sale prices?