Precious Metals Fall Thursday, Feb. 25; Gold’s Loss Third Straight

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Precious metals fell Thursday. Their losses ranged from 0.7% for palladium to 2.1% for platinum. Gold’s fall was its third straight.

Gold for April delivery fell $22.50, or 1.3%, to settle at $1,775.40 an ounce on the Comex division of the New York Mercantile Exchange. The close was the lowest since Feb. 17.

"We’re seeing bond yields move higher over the last few weeks and that once again has taken some of the wind out of the sails in the gold market," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,763.90 to a high of $1,805. They slipped 0.4% on Wednesday, they dipped 0.1% on Tuesday, and they gained 1.7% on Monday for their highest settlement since Feb. 12.

Silver for May delivery — the new, most-active contract — settled down 24.3 cents, or 0.9%, to $27.685 an ounce. Silver futures traded between $27.45 and $28.35. They rose 0.6% on Wednesday, they dropped 1.4% on Tuesday, and they surged 3.1% on Monday for their best close since Feb. 1.

In other precious metals prices on Thursday:

  • April platinum stumbled $26.40 to $1,231.50 an ounce, ranging from $1,225.60 to $1,277.10. On Friday at $1,293.10 an ounce, they notched their best close since Sept. 30, 2014.

  • Palladium for June delivery lost $16.70 to $2,414.80 an ounce, trading between $2,410.50 and $2,491.

London Precious Metals Prices (LBMA)

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

  • Gold declined $8.35, or 0.5%, to $1,779.65 an ounce.
  • Silver was unchanged at $27.745 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Thursday. 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 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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