Gold Ends Monday at 3-Month High

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Precious metals gained Monday, led by palladium which rose 1.5%. The other metals climbed less than 1%. Gold extended its winning streak to four in a row, and ended the day at a three-month high.

Gold for June delivery added $6.30, or 0.3%, to settle at $1,837.60 an ounce on the Comex division of the New York Mercantile Exchange. The finished was the highest since Feb. 10 when gold closed at $1,842.70 an ounce.

"The metals are supported early this week by a slumping U.S. dollar index that hit a 2.5-month low today. The near-term technical postures for both metals are also bullish and getting more so, which continues to invite the shorter-term futures traders on board the long side," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures ranged from a low of $1,830.50 to a high of $1,846.30. Last week gold advanced 3.6%.

Silver for May delivery edged up 1.5 cents, or 0.05%, to finish at $27.492 an ounce. The settlement was the highest since Feb. 25 when silver finished at $27.685 an ounce. Silver futures traded between $27.42 and $28. The soared 6.2% last week.

In other precious metals futures prices on Monday:

  • July platinum tacked on $11, or 0.9%, to $1,265.50 an ounce, ranging from $1,250.60 to $1,281.40.

  • Palladium for June delivery added $43.10 to $2,968.20 an ounce, trading between $2,915.50 and $3,000. Last Monday, palladium logged a record settlement of $2,981.40 an ounce.

Last week platinum gained 4.1% while palladium declined 1%.

US Mint Bullion Sales in 2021

The United States Mint has yet to report any bullion sales for May. 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 / May Last Week February Sales March Sales April Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 121,000 55,500 38,500 406,000
$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 0 0 16,000 33,500 11,000 122,000
$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
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Kaiser Wilhelm

I’ll bet there are more than a few people who would pay gold for a three month high.

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Kaiser Wilhelm

Now I’ve done it. From their clearly disapproving countenances I take it they didn’t appreciate my previous attempt at humor. In the interests of peace in the family, let’s change that to “Who wouldn’t feel high holding an ounce of pure gold in their hand?”