Precious Metals Gain Monday, March 15

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gold bars, silver eagles, dollars Mar 11,2021
Gold settled 0.6% higher

Precious metals climbed Monday, marking gains ranging from 0.6% for both gold and palladium to 1.5% for silver.

Gold for April delivery tacked on $9.40 to settle at $1,729.20 an ounce on the Comex division of the New York Mercantile Exchange.

"If the longer-term direction in gold remains higher, and we believe it does," then it’s notable that the $1,700 level would prove to be "a resting place and then springboard for the summer’s assault on $2,000," MarketWatch quoted Adrian Ash, director of research at BullionVault.

Gold futures ranged from a low of $1,719.20 to a high of $1,732.60. They rose 1.3% last week.

Silver for May delivery surged 37.7 cents to settle at $26.288 an ounce. Silver futures traded between $25.84 and $26.39. They gained 2.5% last week.

In other precious metals futures prices Monday:

  • April platinum added $9.20, or 0.8%, to $1,209.50 an ounce, ranging from $1,201 to $1,224.90.

  • Palladium for June delivery rose $13 to $2,373.70 an ounce, trading between $2,336 and $2,394.50.

Last week platinum surged 6.4% and palladium advanced 1.4%.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold gained $18.85, or 1.1%, to $1,723.65 an ounce.
  • Silver jumped 62.5 cents, or 2.5%, at $26.10 an ounce.

In LBMA results last week, prices rose 0.5% for both gold and silver, 5.6% for platinum and 0.4% for palladium.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Monday by 561,000 ounces in silver coins and a combined 13,000 ounces in gold coins.

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)
Monday Last Week January Sales February Sales March Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 12,000 12,500 191,000 121,000 31,000 343,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 22,000 9,000 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 36,000 0 20,000 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 55,000 95,000 0 55,000 150,000
$50 American Buffalo 1 Oz Gold Coin 1,000 0 61,500 16,000 12,000 89,500
$1 American Eagle 1 Oz Silver Coin 561,000 1,000,000 4,775,000 3,191,500 2,322,000 10,288,500
$100 American Eagle 1 Oz Platinum Coin 0 4,500 N/A N/A 35,000 35,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0
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Kaiser Wilhelm

Who the heck is buying all that gold and silver bullion? Leads me to suspect there is somebody out there making more than the minimum wage!

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Last edited 22 days ago by Kaiser Wilhelm