Precious Metals Gain Monday, Feb. 8

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Precious metals started the new week logging gains ranging from 0.5% for palladium to 3.7% for platinum. Gold’s gain was its second in a row after finishing Thursday at a more than two-month low.

Gold for April delivery settled up $21.20, or 1.2%, to $1,834.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Yellen talking about full employment by 2022 with $2 trillion in stimulus is driving the likelihood of a surge in inflation, which is good for gold," Reuters quoted Tai Wong, head of base and precious metals derivatives trading at BMO.

Gold futures ranged from a low of $1,807.30 to a high of $1,840.60. They fell 2% last week. On Thursday, they finished at their worst price since Nov. 30.

Silver for March delivery surged 55.7 cents, or 2.1%, to settle at $27.576 an ounce. Silver futures traded between $26.93 and $27.70. They inched 0.4% higher last week. Last Monday, they closed at $29.418 an ounce for their best settlement since Feb. 19, 2013.

In other precious metals futures prices on Monday:

  • April platinum jumped $42.40 to $1,175.20 an ounce, ranging from $1,137.50 to $1,186.90.

  • Palladium for March delivery added $10.40 to $2,336.70 an ounce, trading between $2,322 and $2,357.50.

Last week platinum gained 5% and palladium surged 5.3%.

London Precious Metals Prices (LBMA)

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

  • Gold tacked on $32.30, or 1.8%, to $1,835.25 an ounce.
  • Silver jumped 65 cents, or 2.5%, to $27.18 an ounce.

In LBMA results last week, prices fell 3.3% for gold, they declined 3.2% for silver, they rose 1% for platinum and they added 0.5% for palladium.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Monday. 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 January Sales February 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 64,500 48,500 191,000 64,500 255,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 22,000 0 22,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 36,000 0 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 95,000 0 95,000
$50 American Buffalo 1 Oz Gold Coin 0 9,000 10,500 61,500 9,000 70,500
$1 American Eagle 1 Oz Silver Coin 0 1,621,000 751,000 4,775,000 1,621,000 6,396,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0
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Jake

They inched higher, talk about a math problem lol. Thanks coin news!