Gold, Silver and Palladium Decline Monday, March 29

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Platinum edged higher in futures trading Monday, while gold, silver and palladium finished lower.

Gold for June delivery — the new, most-active contract — declined $20.10, or 1.2%, to settle at $1,714.60 an ounce on the Comex division of the New York Mercantile Exchange.

"The safe-haven metals bulls were disappointed as a mild ‘risk-off’ marketplace mentality to start the trading week did not give gold or silver a decent bid. A stronger U.S. dollar index recently and rising bond yields today are also negative elements for the metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,705.60 to a high of $1,734.80. They declined 0.5% last week.

Silver for May delivery fell 34.3 cents, or 1.4%, to end at $24.771 an ounce. Silver futures traded between $24.48 and $25.15. They sank 4.6% last week.

In other precious metals futures on Monday:

  • July platinum rose $2.40, or 0.2%, to $1,184.10 an ounce, ranging from $1,166.60 to $1,205.50.

  • Palladium for June delivery plummeted $145.40, or 5.4%, to $2,530.70 an ounce, trading between $2,511.50 and $2,687.50.

Last week platinum fell 1.9% while palladium gained 1.7%.

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 10,500 191,000 121,000 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 0 17,500 61,500 16,000 32,500 110,000
$1 American Eagle 1 Oz Silver Coin 0 850,000 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

Palladium futures declined by approximately six times what silver is worth. Comparisons like that never cease to amaze – or is it perhaps amuse – me.