Gold Declines Tuesday, March 23

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Palladium gained on Tuesday while gold, silver and platinum declined. Gold’s fall was its second in a row. Losses in silver and platinum were their third straight.

Gold for April delivery lost $13, or 0.8%, to settle at $1,725.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Both metals [gold and silver] are facing selling pressure amid only slight risk aversion in the marketplace at present, and amid bearish ‘outside markets’ today that include big declines in crude oil prices and a solidly higher U.S. dollar index," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,722.70 to a high of $1,742. They shed 0.2% on Monday.

Silver for May delivery declined 54.2 cents, or 2.1%, to settle at $25.227 an ounce. Silver futures traded between $25.09 and $25.92. They dropped 2.1% on Monday.

In other precious metals prices Tuesday:

  • April platinum fell $9.40, or 0.8%, to $1,174.60 an ounce, ranging from $1,169.30 to $1,197.

  • Palladium for June delivery tacked on $17.10, or 0.7%, to $2,617.30 an ounce, trading between $2,560 and $2,644.50.

London Precious Metals Prices (LBMA)

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

  • Gold declined $9.95, or 0.6%, to $1,726.20 an ounce.
  • Silver fell 12 cents, or 0.5%, at $25.62 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Tuesday by 850,000 ounces in silver coins and a combined 28,000 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)
Tuesday / This Week Last Week January Sales February Sales March Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 10,500 15,500 191,000 121,000 45,000 357,000
$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 0 95,000 0 55,000 150,000
$50 American Buffalo 1 Oz Gold Coin 17,500 4,000 61,500 16,000 32,500 110,000
$1 American Eagle 1 Oz Silver Coin 850,000 691,000 4,775,000 3,191,500 3,302,000 11,268,500
$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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Kaiser Wilhelm

Precious metal prices (except Palladium) have slipped again today, but the Mint’s bullion is selling like hotcakes. By the by, just how do hotcakes sell?

Pancakes.jpg
Seth Riesling

Silver dollar pancakes! (My 4 nephews love them, or the Happy Face pancakes at IHOP).
My late uncle in St. Louis called them flapjacks.
NumisdudeTX

Kaiser Wilhelm

Lordy, Seth, I’m inexorably approaching half way to eighty and I still (admittedly now only occasionally) love my pancakes/hotcakes/flapjacks any which way even though they are “officially” not good for me anymore. I confess that nowadays I tend to go a heck of lot easier on the syrup for the expected health reasons, and this coming from a guy who used to positively soak them in the sugary stuff! 😉

Last edited 4 months ago by Kaiser Wilhelm
Kaiser Wilhelm

Here it is, Seth, straight from IHOP. Help yourself to a tasty virtual bite!

Happy face.jpg
Last edited 3 months ago by Kaiser Wilhelm