Palladium Logs Another Record; Gold Declines

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Gold, silver and platinum started the new trading week on Monday with losses, while palladium scored a new record.

Gold for June delivery fell $9.60, or 0.5%, to settle at $1,770.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices are lower in midday U.S. trading Monday, on routine downside corrections after gold prices hit a seven-week high overnight and silver hit a three-week high Friday. Both metals are now in near-term price uptrends and that will continue to invite fresh buying interest from the shorter-term technical traders," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,766.60 to a high of $1,790.40. They rose 2% last week.

Marking its first loss in five sessions, silver for May delivery dropped 26.8 cents, or 1%, to settle at $25.837 an ounce. Silver futures traded between $25.67 and $26.28. They rallied 3.1% last week.

In other precious metals futures prices Monday:

  • July platinum shed $2.20, or 0.2%, to $1,206.50 an ounce, ranging from $1,202.30 to $1,231.90.

  • Palladium for June delivery rose $38.90, or 1.4%, to $2,813.60 an ounce — an all-time settlement high, trading between $2,761 and $2,851.

Last week platinum dipped 60 cents and palladium soared 5.3%.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Monday by 9,000 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)
Monday Last Week February Sales March Sales April Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 8,500 6,500 121,000 55,500 28,000 395,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 9,000 0 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 20,000 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 55,000 0 150,000
$50 American Buffalo 1 Oz Gold Coin 500 5,000 16,000 33,500 9,000 120,000
$1 American Eagle 1 Oz Silver Coin 0 457,000 3,191,500 4,087,000 1,053,000 13,106,500
$100 American Eagle 1 Oz Platinum Coin 0 0 N/A 35,000 0 35,000
Tuskegee Airmen 5 oz Silver Coin 0 0 N/A N/A 50,000 50,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0
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Kaiser Wilhelm

This time palladium rose by $13 more than silver is worth in total; incroyable!

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