Gold, Platinum and Palladium Gain Tuesday, March 16

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fine gold 999.9 March 16,2021
Gold prices rose $1.70 on Tuesday

In precious metals futures trading Tuesday, silver declined and palladium surged. Gold and platinum, meanwhile, rose modestly.

Gold for April delivery edged up $1.70, or 0.1%, to settle at $1,730.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Early gains in gold on some more short covering and bargain hunting were erased when the key ‘outside markets’ turned more bearish today, as crude oil prices fell and the U.S. dollar index firmed up," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,724.40 to a high of $1,740.50. They rose 0.6% on Monday.

Silver for May delivery declined 28.5 cents, or 1.1%, to settle at $26.003 an ounce. Silver futures traded between $25.88 and $26.41. They surged 1.5% on Monday.

In other precious metals futures Tuesday:

  • April platinum added $9.60, or 0.8%, to $1,219.10 an ounce, ranging from $1,205.70 to $1,240.40.

  • Palladium for June delivery soared $118.20, or 5%, to $2,491.90 an ounce, trading between $2,373 and $2,529.

London Precious Metals Prices (LBMA)

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

  • Gold gained $11.35, or 0.7%, to $1,735 an ounce.
  • Silver dipped 2 cents, or 0.08%, at $26.08 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Tuesday. 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)
Tuesday Last Week This Week January Sales February Sales March Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 12,500 12,000 191,000 121,000 31,000 343,000
$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 0 0 36,000 0 20,000 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 55,000 0 95,000 0 55,000 150,000
$50 American Buffalo 1 Oz Gold Coin 0 0 1,000 61,500 16,000 12,000 89,500
$1 American Eagle 1 Oz Silver Coin 0 1,000,000 561,000 4,775,000 3,191,500 2,322,000 10,288,500
$100 American Eagle 1 Oz Platinum Coin 0 4,500 0 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

Palladium increased in value by almost five times what silver is worth. Amazing.