In precious metals futures Tuesday, platinum declined while gold, silver and palladium finished modestly higher. Gold and silver registered fresh, multi-month settlement highs.
Gold for June delivery edged up 40 cents, or 0.02%, to settle at $1,868 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Jan. 7 when gold ended at $1,913.60 an ounce.
"Investors know that inflation is going to run hot, and it will remain above the Federal Reserve’s target of 2%," MarketWatch quoted Naeem Aslam, chief market analyst at AvaTrade, in a note. "Higher inflation numbers are going to keep the shine in the gold price, and it is highly likely that we may see the gold price topping the $1,900 mark in the coming days."
Gold futures ranged from a low of $1,863.50 to a high of $1,875.90. They gained 1.6% on Monday.
Silver for May delivery added 5.9 cents, or 0.2%, to settle at $28.333 an ounce. The close was the highest since Feb. 1 when silver ended at $29.418 an ounce. Silver futures traded between $28.12 and $28.90. They soared 3.3% on Monday.
In other precious metals futures Tuesday:
July platinum declined $19.20, or 1.5%, to $1,225.30 an ounce, ranging from $1,215.10 to $1,252.80.
- Palladium for June delivery rose $7.20, or 0.3%, to $2,903.10 an ounce, trading between $2,893.50 and $2,941.
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)|
|Tuesday / 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|