Gold Falls for Sixth Session; Silver Jumps to 3-Week High

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Precious metals divided Thursday with gold and platinum falling and silver and palladium gaining. Silver scored its strongest close in three weeks. Gold, meanwhile, extended its string of losing sessions to six in a row.

Gold for April delivery — the new, most-active contract — declined $7.70, or 0.4%, to settle at $1,841.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Jan. 19.

"Gold is battling yield strength and a firmer dollar," Peter Spina, president and chief executive officer at GoldSeek.com, told MarketWatch.

"Gold is a bit of an afterthought today with so much interest and focus on silver," he said. Prices for silver rallied after a post by a Reddit user, who suggested executing a "short squeeze" in the silver market, MarketWatch noted.

Gold futures ranged from a low of $1,835.60 to a high of $1,864.30. They fell 0.3% for Wednesday, they shed 0.2% on Tuesday, and they slipped 0.05% on Monday.

Silver for March delivery tacked on 53.3 cents, or 2.1%, to settle at $25.922 an ounce. The close was silver’s best since Jan. 7. Silver futures traded between $24.89 and $26.49. They shed 0.6% on Wednesday, they gained 0.2% on Tuesday, and they lost 0.3% on Monday.

In other precious metals futures prices on Thursday:

  • April platinum lost $6.60, or 0.6%, to $1,072.40 an ounce, ranging from $1,055 to $1,105.

  • Palladium for March delivery gained $11.80, or 0.5%, to $2,322.30 an ounce, trading between $2,278 and $2,355.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold rose $10.70, or 0.6%, to $1,853.70 an ounce.
  • Silver added 2 cents, or 0.08%, to $25.205 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Thursday by 5,500 ounces in American Buffalo 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)
Thursday Last Week This Week December 2020 Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 16,000 59,000 48,500 747,500 191,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 5,000 2,000 70,000 22,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 8,000 0 106,000 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 350,000 95,000
$50 American Buffalo 1 Oz Gold Coin 5,500 29,500 5,500 10,500 242,000 61,500
$1 American Eagle 1 Oz Silver Coin 0 100,000 0 751,000 30,089,500 4,775,000
America Samoa 5 oz Silver Coin* 0 0 0 0 45,000 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 45,000 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 45,000 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 45,000 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 45,000 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 56,500 0
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Jake

Cool pic, that is a lot of 1980 silver, I bet you dollars to doughnuts someone got Top dollar for those. Some peasant said gold was tacky, let’s shake those weak hands out!

Last edited 29 days ago by Jake