Precious Metals Decline Thursday, March 25

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Gold prices lost $8.10 on Thursday
Gold prices lost $8.10 on Thursday

Precious metals declined on Thursday following gains on Wednesday. Losses on the day ranged from 0.5% for gold and 2.2% from platinum.

Gold for April delivery fell $8.10 to settle at $1,725.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices are down in midday U.S. trading Thursday, with silver hitting a two-month low. A stronger U.S. dollar and a breakdown in the crude oil market this week have the metals market bulls running for cover," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,723.20 to a high of $1,738.40. They gained 0.5% on Wednesday, they lost 0.8% on Tuesday, and they shed 0.2% on Monday.

Silver for May delivery declined 18.4 cents, or 0.7%, to settle at $25.047 an ounce. Silver futures traded between $24.43 and $25.22. They inched up 0.02% on Wednesday, they declined 2.1% on Tuesday, and they dropped 2.1% on Monday.

In other precious metals prices on Thursday:

  • April platinum dropped $26 to $1,154.20 an ounce, ranging from $1,143.80 to $1,183.90.

  • Palladium for June delivery fell $24.70, or 0.9%, to $2,615.40 an ounce, trading between $2,602.50 and $2,649.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Thursday. 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)
Thursday Last Week This Week January Sales February Sales March Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 15,500 10,500 191,000 121,000 45,000 357,000
$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 0 0 95,000 0 55,000 150,000
$50 American Buffalo 1 Oz Gold Coin 0 4,000 17,500 61,500 16,000 32,500 110,000
$1 American Eagle 1 Oz Silver Coin 0 691,000 850,000 4,775,000 3,191,500 3,302,000 11,268,500
$100 American Eagle 1 Oz Platinum Coin 0 0 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

To some degree and/or extent the absolute value of anything and everything lends itself to being both circumstantial and contextual. For example, in our everyday first world environment, gold, silver, platinum and palladium are extremely expensive and valuable commodities while ordinary drinking water is rather plentiful and therefore cheap. However, if you were to be lost in an endless desert under a relentlessly burning sun, the priceless scarce metals would be of no use or importance to you anymore and plain old water would conversely have become the rarest and most priceless commodity on earth. Things change.

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Last edited 20 days ago by Kaiser Wilhelm