Precious Metals Surge Monday, May 3

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Precious metals rallied Monday, posting gains ranging from 0.9% for palladium to 4.2% for silver. Palladium scored a third straight record. Gold’s increase was its first in five sessions.

Gold for June delivery tacked on $24.10, or 1.4%, to settle at $1,791.80 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since April 21.

"Factors contributing to today’s strong upside move are U.S. dollar weakness as well as slightly lower yields on the U.S. 10-year Treasury note. It must be noted that today’s high of 1798.90 falls just shy of the current major resistance at $1800," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,765.60 to a high of $1,798.90. They fell 0.6% last week but still ended with an April increase of 3%.

Silver for May delivery soared $1.09 to end at $26.96 an ounce. The settlement was the highest since Feb. 25. Silver futures traded between $25.85 and $27.12. They edged 0.1% lower last week while jumping 5.5% in April.

In other precious metals futures prices on Monday:

  • July platinum rose $24.90, or 2.1%, to $1,230.10 an ounce, ranging from $1,195.50 to $1,248.10.

  • Palladium for June delivery gained $27.70 to a record settlement of $2,981.40 an ounce, trading between $2,934 and 2,997.

US Mint Bullion Sales in 2021

U.S. Mint bullion sales data was unavailable at the time of this writing. 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)
Last Week February Sales March Sales April Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 7,500 121,000 55,500 38,500 406,000
$25 American Eagle 1/2 Oz Gold Coin 0 9,000 0 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 55,000 0 150,000
$50 American Buffalo 1 Oz Gold Coin 2,000 16,000 33,500 11,000 122,000
$1 American Eagle 1 Oz Silver Coin 0 3,191,500 4,087,000 1,053,000 13,106,500
$100 American Eagle 1 Oz Platinum Coin 0 N/A 35,000 0 35,000
Tuskegee Airmen 5 oz Silver Coin 0 N/A N/A 50,000 50,000
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Kaiser Wilhelm

Why do mints waste so much time and effort putting any kind of imagery whatsoever on bullion “coinage”? Instead, just stamp the type of metal, the troy weight, the source of manufacture and whatever type of anti-counterfeiting measures are necessary on each planchet. Imagine the variety of uses all that valuable freed-up press time could be put to!

Last edited 4 months ago by Kaiser Wilhelm
Kaiser Wilhelm

Sometimes it can prove very beneficial to look at old things in an entirely new way.

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Last edited 4 months ago by Kaiser Wilhelm