Gold Edges Higher Monday, April 5

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Precious metals split on Monday with gold and platinum rising slightly and silver and palladium falling modestly.

Gold for June delivery inched up 40 cents, or 0.02%, to settle at $1,728.80 an ounce on the Comex division of the New York Mercantile Exchange.

Overall, "gold prices are in ‘no man’s land’ as investors await to see if the bond market selloff returns and sends the dollar higher," MarketWatch quoted Edward Moya, senior market analyst at Oanda. He also said it was a "tough Monday for gold trading as Europe remains on vacation and Treasury yields look stable."

Gold futures ranged from a low of $1,721.60 to a high of $1,734.40. They slid 0.2% last week.

Silver for May delivery declined 16.8 cents, or 0.7% to close at $24.78 an ounce. Silver futures traded between $24.66 and $25.14. They lost 0.7% last week.

In other precious metals futures prices on Monday:

  • July platinum rose $1.20, or 0.1%, to $1,209.80 an ounce, ranging from $1,196.50 to $1,225.

  • Palladium for June delivery shed $1.10, or 0.04%, to $2,654.70 an ounce, trading between $2,620.50 and $2,672.50.

Last week platinum gained 2.6% and palladium fell 0.8%.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Monday, their first gains of the month. Advances included 596,000 ounces in silver coins and a combined 16,500 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)
Monday / April Last Week January Sales February Sales March Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 13,000 0 191,000 121,000 55,500 380,500
$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 3,500 0 61,500 16,000 33,500 114,500
$1 American Eagle 1 Oz Silver Coin 596,000 0 4,775,000 3,191,500 4,087,000 12,649,500
$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

Since so-called “bullion coins” are sold, valued and held entirely for their precious metal content, why does the Mint even bother to stamp a dollar value on them?