Precious Metals Decline Monday, March 22

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Precious metals posted losses Monday that ranged from $0.2% for gold to 2.1% for silver. Gold’s loss was its first in three sessions.

Gold for April delivery shed $3.60 to settle at $1,738.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold should be higher yet it’s not. That really speaks to a weak market if normal correlations (like a weaker dollar) are not holding up," Reuters quoted David Madden, analyst at CMC Markets UK, adding gold could slip further if the dollar and yields advance.

Gold futures ranged from a low of $1,726.40 to a high of $1,747. They gained 1.3% last week, ending Friday at their highest price since Feb. 25.

Silver for May delivery dropped 55.2 cents to settle at $25.769 an ounce. Silver futures traded between $25.45 and $26.35. They climbed 1.6% last week.

In other precious metals Monday:

  • April platinum fell $16.10, or 1.3%, to $1,184 an ounce, ranging from $1,163.50 to $1,200.90.

  • Palladium for June delivery declined $30.70, or 1.2%, to $2,600.20 an ounce, trading between $2,550 and $2,651.

Last week platinum dipped 0.02% while palladium rallied 11.5%.

London Precious Metals Prices (LBMA)

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

  • Gold edged up 95 cents, or 0.05%, to $1,736.15 an ounce.
  • Silver fell 43.5 cents, or 1.7%, at $25.74 an ounce.

In LBMA results last week, prices fell 1.1% for platinum while they increased 1.8% for gold, 2.7% for silver, and 10.9% for palladium.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Monday. 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 0 15,500 191,000 121,000 34,500 346,500
$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 0 95,000 0 55,000 150,000
$50 American Buffalo 1 Oz Gold Coin 0 4,000 61,500 16,000 15,000 92,500
$1 American Eagle 1 Oz Silver Coin 0 691,000 4,775,000 3,191,500 2,452,000 10,418,500
$100 American Eagle 1 Oz Platinum Coin 0 0 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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