Precious Metals Rise Thursday, March 11

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Prices for gold, silver and platinum changed little Thursday, rising modestly, while palladium surged 2.1%. Gold’s gain was its third in a row following four straight losses.

Gold for April delivery edged up 80 cents, or 0.05%, to settle at $1,722.60 an ounce on the Comex division of the New York Mercantile Exchange.

"The dollar’s decline following the approval of the $1.9 trillion stimulus package and weaker than expected inflation has lifted the gold price and removed some of the recent fears about bullion," wrote Carlo Alberto De Casa, chief analyst at ActivTrades, in a Thursday research note reported by MarketWatch.

Gold futures ranged from a low of $1,721.70 to a high of $1,738. They rose 0.3% on Wednesday, they gained 2.3% on Tuesday, and they fell 1.2% on Monday, for their lowest settlement since April 3.

Silver for May delivery added 6.3 cents, or 0.2% to $26.193 an ounce. Silver futures traded between $26.10 and $26.55. They declined 0.2% on Wednesday, they soared 3.6% on Tuesday, and they edged 0.07% lower on Monday, for their lowest settlement since Jan. 15.

In other precious metals futures Thursday:

  • April platinum gained 50 cents, or 0.04%, to $1,202.30 an ounce, ranging from $1,195.30 to $1,234.30.

  • Palladium for June delivery jumped $48.40 to $2,341.60 an ounce, trading between $2,285.50 and $2,364.50.

London Precious Metals Prices (LBMA)

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

  • Gold rose $8.05, or 0.5%, to $1,724.25 an ounce.
  • Silver added 60.5 cents, or 2.4%, at $26.25 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Thursday. 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)
Thursday 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 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 0 761,000 1,000,000 4,775,000 3,191,500 1,761,000 9,727,500
$100 American Eagle 1 Oz Platinum Coin 0 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

The inevitable north and south meandering of precious metal prices reminds me of a line from a classic Frank Sinatra song: “…riding high in April, shot down in May…”