Platinum stood by itself among precious metals with its loss on Monday, after registered a 6.3-year high on Friday. Gold’s gain was its second in a row following four straight declines.
Gold for April delivery settled up $31, or 1.7%, to finish at $1,808.40 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s strongest since Feb. 12.
"Short covering from the futures traders and bargain hunting in the cash market are featured to start the trading week. Outside market elements are also working in favor of the gold market bulls today–a weaker U.S. dollar index and firmer crude oil prices," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,778.60 to a high of $1,812.40. They dropped 2.5% last week.
Silver for March delivery rallied 83.1 cents, or 3.1%, to settle at $28.085 an ounce. The settlement was silver’s highest since Feb. 1. Silver futures traded between $27.33 and $28.15. They gave back 0.3% last week following five straight weekly gains.
In other precious metals futures prices Monday:
April platinum declined $10.80, or 0.8%, to $1,282.30 an ounce, ranging from $1,270 to $1,312. On Friday, they notched their best close since Sept. 30, 2014.
- Palladium for March delivery rose $22.90, or 1%, to $2,392.10 an ounce, trading between $2,368.50 and $2,424.50.
Last week platinum advanced 2.7% and palladium declined 0.6%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold gained $21.25, or 1.2%, to $1,807.45 an ounce.
- Silver surged 49.5 cents, or 1.8%, to $27.445 an ounce.
In LBMA results last week, prices fell 1.7% for gold, they declined 0.4%, they jumped 6% for platinum and they rose 0.3% 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||17,000||48,500||191,000||118,500||309,500|
|$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||4,500||10,500||61,500||16,000||77,500|
|$1 American Eagle 1 Oz Silver Coin||0||680,000||751,000||4,775,000||2,801,000||7,576,000|
|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|