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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Kaiser Wilhelm

What with the immense numbers of gold and silver bullion coins the Mint has to consistently crank out to try to keep up with current high levels of demand, it’s a wonder that any numismatic coins at all can be squeezed into the schedule these days.

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