Gold Snaps 5-Session Losing Streak

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Precious metals registered gains Tuesday ranging from 0.6% for gold to 1.9% for platinum. Increases in silver, platinum and palladium were their second straight. Gold’s rise was its first in six sessions, after ended Monday at a more than 8-1/2-month low.

Gold for April delivery added $10.60 to settle at $1,733.60 an ounce on the Comex division of the New York Mercantile Exchange.

"The main dilemma right now for the gold bulls is the rising short-term U.S. Treasury yields," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures. "Despite the U.S. Federal Reserve being very accommodative with stimulus, with low rates for the extended period of time, in the short term, we have to deal with these rising short-term rates."

Gold futures ranged from a low of $1,704.60 to a high of $1,737.20. They lost 0.3% on Monday, marking their lowest finish since June 10.

Silver for May delivery tacked on 20.1 cents, or 0.8% to settle at $26.879 an ounce. Silver futures traded between $25.82 and $26.99. They gained 0.9% on Monday.

In other precious metals futures Tuesday:

  • April platinum moved up $23.10 to $1,214.40 an ounce, ranging from $1,174 to $1,218.30.

  • Palladium for June delivery rose $19.60, or 0.8%, to $2,368.60 an ounce, trading between $2,327 and $2,373.50.

London Precious Metals Prices (LBMA)

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

  • Gold fell $10.30, or 0.6%, to $1,723.85 an ounce.
  • Silver sank 63 cents, or 2.3%, at $26.26 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Tuesday. 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 Last Week This Week / March January Sales February Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 2,500 3,500 191,000 121,000 315,500
$25 American Eagle 1/2 Oz Gold Coin 0 9,000 0 22,000 9,000 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 36,000 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 95,000 0 95,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 61,500 16,000 77,500
$1 American Eagle 1 Oz Silver Coin 0 390,500 761,000 4,775,000 3,191,500 8,727,500
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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