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|