Gold Logs Best Close in Over Four Months

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Precious metals gained on Monday, logging increases ranging from less than 0.1% for palladium to 3.3% for silver. Gold ended at a more than four-month high.

Gold for June delivery added $29.50, or 1.6%, to settle at $1,867.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the strongest since Jan. 7 when gold ended at $1,913.60 an ounce.

"There’s a flight to safety out of the equity markets … and anticipation that we’re going to continue to see inflation numbers trend much stronger going forward," Reuters quoted Jeffrey Sica, founder of Circle Squared Alternative Investments.

Gold futures ranged from a low of $1,841.10 to a high of $1,869.30. They rose 0.4% last week.

Silver for May delivery surged 90.9 cents to settle at $28.274 an ounce. The finish was the highest since Feb. 1 when silver closed at $29.418 an ounce.

Silver futures traded between $27.44 and $28.44. Last week they dipped 0.4%.

In other precious metals futures prices on Monday:

  • July platinum ended up $21.70, or 1.8%, to $1,244.50 an ounce, ranging from $1,224 to $1,247.50.

  • Palladium for June delivery rose $1.30, or 0.04%, to $2,895.90 an ounce, trading between $2,877 and $2,909.

Last week platinum fell 2.5% and 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

Once again, one of the more elite of the precious metals, which in this instance happened to be gold, added more to its value than the entire price of silver. And so it [always] goes.

Last edited 1 month ago by Kaiser Wilhelm
Kaiser Wilhelm

I still have no idea why I insist on complaining about the relatively low price of silver. I mean, would I really want to pay, for example, ten times what it costs me now for it?