Gold, Platinum and Palladium Rise Wednesday, March 10

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All but silver registered increases Wednesday, though gains in gold and palladium were modest. Palladium’s advance was its first in six sessions.

Gold for April delivery rose $4.90, or 0.3%, to settle at $1,721.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is still taking cues from the Treasury market and today’s data lessens worries about near-term inflation," Reuters quoted Edward Moya, senior market analyst at OANDA. "If today’s 10-year note sale has decent demand, gold prices could eventually make a run towards $1,730. … The $1,700 level will provide key support … but that should hold unless the bond market sell-off resumes," Moya said.

Gold futures ranged from a low of $1,705.60 to a high of $1,724.20. They gained 2.3% on Tuesday and they fell 1.2% on Monday, for their lowest settlement since April 3.

Silver for May delivery settled down 5.3 cents, or 0.2% to $26.13 an ounce. Silver futures traded between $25.61 and $26.31. They soared 3.6% on Tuesday and they edged 0.07% lower on Monday, for their lowest settlement since Jan. 15.

In PGM futures on Wednesday:

  • April platinum advanced $26.40, or 2.3%, to $1,201.80 an ounce, ranging from $1,155.20 to $1,206.60.

  • Palladium for June delivery added $1, or 0.04%, to $2,293.20 an ounce, trading between $2,273.50 and $2,301.

London Precious Metals Prices (LBMA)

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

  • Gold dipped 70 cents, or 0.04%, to $1,716.20 an ounce.
  • Silver declined 11 cents, or 0.4%, at $25.645 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Wednesday by 1,000 ounces in American Gold Eagles; 4,500 ounces in American Platinum Eagles; and 189,000 ounces in American Silver Eagles.

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 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 10,000 0 55,000 95,000 0 55,000 150,000
$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 189,000 761,000 1,000,000 4,775,000 3,191,500 1,761,000 9,727,500
$100 American Eagle 1 Oz Platinum Coin 4,500 30,500 4,500 N/A N/A 35,000 35,000
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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