Gold Logs 3-Week Low; Silver Hits 3.5-Month Low

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Palladium gained on Tuesday while gold, silver and platinum traded lower. Losses in gold and silver were their second straight. Silver marked a 3.5-month low. Gold, meanwhile, finished the day at a 3-week low.

Gold for June delivery dropped $28.60, or 1.7%, to settle at $1,686 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since March 8 when gold ended at $1,678 an ounce.

"The bears are confident today amid a rally in the U.S. dollar index, lower crude oil prices and rising bond yields. Chart-based bears are also pressing their case amid the very weak near-term technical postures for both metals. Furthermore, trader and investor risk appetite remains generally upbeat enough to keep the global stock markets buoyant," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,678.30 to a high of $1,714.80. They declined 1.2% on Monday.

Silver for May delivery plunged 63.4 cents, or 2.6%, to close at $24.137 an ounce. The finish was the lowest since Dec. 14 when silver settled at $24.047 an ounce. Silver futures traded between $23.98 and $24.77. They fell 1.4% on Monday.

In other precious metals futures Tuesday:

  • July platinum lost $23.50, or 2%, to $1,160.60 an ounce, ranging from $1,159.20 to $1,189.90.

  • Palladium for June delivery tacked on $38.30, or 1.5%, to $2,569 an ounce, trading between $2,518.50 and $2,604.

US Mint Bullion Sales in 2021

United States Mint bullion sales were unchanged Tuesday. 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 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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Seth Riesling

The largest silver mine in the world is in Mexico…they need to send some up here instead of being “greedy”…so close & yet so far away.

NumisdudeTX