Precious Metals Decline Tuesday, Feb. 23

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999.9 fine gold bars and gold nuggets feb 23, 2021
Gold prices slipped 0.1% on Tuesday, Feb. 23

Precious metals futures posted losses on Tuesday that ranged from 0.1% for gold to 3.3% for platinum.

Gold for April delivery lost $2.50 to settle at $1,805.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Despite the volatility, we haven’t seen any significant directional movement in yields or the dollar, which is why gold is only marginally lower, a reflection of the dollar being a little higher," Reuters quoted OANDA analyst Craig Erlam.

Gold futures ranged from a low of $1,794.50 to a high of $1,815.20. On Monday, they gained 1.7% for their highest finish since Feb. 12.

Silver for March delivery dropped 39.7 cents, or 1.4%, to settle at $27.688 an ounce. Silver futures traded between $27.28 and $28.43. They surged 3.1% on Monday for their best close since Feb. 1.

In other precious metals futures Tuesday:

  • April platinum declined $42.60 to $1,239.70 an ounce, ranging from $1,218.10 to $1,287. On Friday at $1,293.10 an ounce, they notched their best close since Sept. 30, 2014.

  • Palladium for March delivery lost $57, or 2.4%, to $2,335.10 an ounce, trading between $2,284.50 and $2,402.50.

London Precious Metals Prices (LBMA)

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

  • Gold declined $7.80, or 0.4%, to $1,799.65 an ounce.
  • Silver rose 52 cents, or 1.9%, to $27.965 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Tuesday by 390,500 ounces in American Silver Eagles and a combined 5,000 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)
Tuesday / This Week Last Week December January Sales February 2021 Sales
$50 American Eagle 1 Oz Gold Coin 500 17,000 48,500 191,000 119,000 310,000
$25 American Eagle 1/2 Oz Gold Coin 9,000 0 2,000 22,000 9,000 31,000
$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 390,500 680,000 751,000 4,775,000 3,191,500 7,966,500
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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