Gold Marks 7th Gain in 8 Sessions

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Gold reclaimed its more than four-and-a-half-month high on Monday after sliding from the level on Friday and following sixth straight gains.

Gold for June delivery added $7.80, or 0.4%, to settle at $1,884.50 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.

"Gold is pushing higher mainly on account of the weaker dollar and persisting inflationary concerns, coupled with the fact that the intense volatility in bitcoin could be driving some speculative flows back into the precious metal," Edward Meir, analyst at ED & F Man Capital Markets, wrote in a daily note reported by MarketWatch.

Gold futures ranged from a low of $1,875.70 to a high of $1,887.90. They gained 2.1% last week.

Silver for May delivery tacked on 41.9 cents, or 1.5%, to end at $27.905 an ounce. Silver futures traded between $27.55 and $27.91. They edged 0.4% higher last week.

In other precious metals futures Monday:

  • July platinum rose $8.20, or 0.7%, to $1,177.60 an ounce, ranging from $1,162 to $1,181.10.

  • Palladium for June delivery fell $45.20, or 1.6%, to $2,729.80 an ounce, trading between $2,750 and $2,816.50.

Last week platinum fell 3.3% and palladium lost 4.1%.

US Mint Bullion Sales in 2021

Published U.S. Mint bullion sales were unchanged Monday. 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 May 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 18,500 121,000 55,500 38,500 18,500 424,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 9,000 0 0 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 20,000 0 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 55,000 0 0 150,000
$50 American Buffalo 1 Oz Gold Coin 0 31,000 16,000 33,500 11,000 31,000 153,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,191,500 4,087,000 1,053,000 0 13,106,500
$100 American Eagle 1 Oz Platinum Coin 0 26,400 N/A 35,000 0 26,400 61,400
Tuskegee Airmen 5 oz Silver Coin 0 2,900 N/A N/A 50,000 2,900 52,900
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Kaiser Wilhelm

Imagine if you went to the supermarket and your basics, staples and/or necessities (whichever term you prefer) bounced up and down from day to day like these prices do!

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Last edited 26 days ago by Kaiser Wilhelm