Gold Declines Wed., Feb. 24, As Other Metals Gain

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Gold prices declined for a second day in row Wednesday while silver, platinum and palladium gained.

Gold for April delivery settled down $8, or 0.4%, to $1,797.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Technical resistance levels at, say, $1,810 look unreachable just now," MarketWatch quoted Ross Norman, chief executive offer at Metals Daily. "Once again bitcoin is getting the headlines and, sorry, but gold is currently looking like the analogue solution in an increasingly digital world."

Gold futures ranged from a low of $1,786 to a high of $1,813. They dipped 0.1% on Tuesday and they gained 1.7% on Monday for their highest settlement since Feb. 12.

Silver for March delivery rose 17.1 cents, or 0.6%, to settle at $27.859 an ounce. Silver futures traded between $27.45 and $28. They dropped 1.4% on Tuesday and they surged 3.1% on Monday for their best close since Feb. 1.

In PGM futures on Wednesday:

  • April platinum increased $18.20, or 1.5%, to $1,257.90 an ounce, ranging from $1,241.80 to $1,278.90. On Friday at $1,293.10 an ounce, they notched their best close since Sept. 30, 2014.

  • Palladium for June delivery — the new, most-active contract, soared $86.80, or 3.7%, to $2,431.50 an ounce, trading between $2,333.50 and $2,446.50.

London Precious Metals Prices (LBMA)

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

  • Gold was unchanged at $1,799.65 an ounce.
  • Silver declined 22 cents, or 0.8%, to $27.745 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Wednesday. 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)
Wednesday Last Week This Week December January Sales February 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 17,000 500 48,500 191,000 119,000 310,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 9,000 2,000 22,000 9,000 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 36,000 0 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 95,000 0 95,000
$50 American Buffalo 1 Oz Gold Coin 0 4,500 0 10,500 61,500 16,000 77,500
$1 American Eagle 1 Oz Silver Coin 0 680,000 390,500 751,000 4,775,000 3,191,500 7,966,500
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 0 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 0 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 0
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