Metals Gain on Monday, April 26; Palladium Logs New Record

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Gold, silver and platinum posted modest gains on Monday. Palladium, meanwhile, soared for another record.

Gold for June delivery rose $2.30, or 0.1%, to settle at $1,780.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices are slightly up in two-sided trading at midday Monday, on some more chart consolidation after recent gains. Bulls in both metals are still enjoying near-term price uptrends on the daily charts, suggesting the path of least resistance for prices will remain sideways to higher," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,768.20 to high of $1,783.10. They dipped 0.1% last week.

Silver for May delivery added 13.4 cents, or 0.5%, to settle at $26.209 an ounce. Silver futures traded between $25.89 and $26.26. They shed 0.1% last week.

In other precious metals futures prices Monday:

  • July platinum picked up $12.10, or 1%, to $1,245.20 an ounce, ranging from $1,230.50 to $1,253.80.

  • Palladium for June delivery jumped $52.30, or 1.8%, to a record settlement of $2,909.30 an ounce. Palladium prices traded between $2,843.50 and $2,950.

Last week platinum rose 2% and palladium gained 3%.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Monday by 3,500 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 Last Week February Sales March Sales April Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 2,500 11,500 121,000 55,500 33,500 401,000
$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 1,000 500 16,000 33,500 10,000 121,000
$1 American Eagle 1 Oz Silver Coin 0 0 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

It appears that palladium is on the cusp of hitting $3000 an ounce. It would seem that as such it is gradually and steadily pulling away from the rest of the precious metals pack with the eventual result possibly being a transition from the current two tier to what would then be a three tier system, as in: #1) Palladium, #2) Gold and Platinum, and #3) Silver.

Last edited 12 days ago by Kaiser Wilhelm