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|