Palladium declined for a fifth session in a row on Tuesday while gold, silver and platinum rose sharply. Gold’s gain was its first after four straight losses. The yellow metal settled at an 11-month low on Monday.
Gold for April delivery tacked on $38.90, or 2.3%, to settle at $1,716.90 an ounce on the Comex division of the New York Mercantile Exchange.
"The problem for gold is that we are in a reflationary environment where gold typically does not perform well," Michael Armbruster, managing partner at Altavest, told MarketWatch. However, "rising 10- and 30-year Treasury yields are a symptom of reflation, so [Tuesday’s] drop in Treasury yields allows for an oversold bounce in gold, within the context of gold’s bearish trend."
Gold futures ranged from a low of $1,676.70 to a high of $1,718. They fell 1.2% on Monday, for their lowest settlement since April 3.
Silver for May delivery soared 91.4 cents, or 3.6% to settle at $26.183 an ounce. Silver futures traded between $25.09 and $26.06. They edged 0.07% lower on Monday, for their lowest settlement since Jan. 15.
In other precious metals futures Tuesday:
-
April platinum gained $23.10, or 2%, to $1,175.40 an ounce, ranging from $1,136.90 to $1,179.
- Palladium for June delivery dropped $22, or 1%, to $2,292.20 an ounce, trading between $2,265 and $2,318.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold gained $29.85, or 1.8%, to $1,716.90 an ounce.
- Silver surged 60 cents, or 2.4%, at $25.755 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 | January Sales | February Sales | March Sales | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 6,500 | 6,500 | 191,000 | 121,000 | 13,000 | 325,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 22,000 | 9,000 | 0 | 31,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 20,000 | 0 | 36,000 | 0 | 20,000 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 45,000 | 95,000 | 0 | 45,000 | 140,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 11,000 | 0 | 61,500 | 16,000 | 11,000 | 88,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 761,000 | 811,000 | 4,775,000 | 3,191,500 | 1,572,000 | 9,538,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 30,500 | 0 | N/A | N/A | 30,500 | 30,500 |
| 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 |
What a coincidence that both the gold futures price (NYCity) & spot price (London) of gold both closed at the same price to the cent today at $1716.90 per ounce. What are the odds of that happening?
NumisdudeTX