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|