Precious metals declined as a group for a second straight session Monday. Gold’s loss was its third in a row. The yellow metal ended the day at a more than four-month low.
Gold for December delivery settled down $36.60, or 2.1%, to $1,726.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since gold ended March 31 at $1,715.60 an ounce.
"The metals are still suffering from the reverberations of last Friday’s surprisingly strong U.S. jobs report that pushed the U.S. stock indexes to or near their record highs, rallied the U.S. dollar index, pushed the U.S. Treasury yields up (prices down) — all bearish elements for the metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,677.90 to a high of $1,765.70. They declined 3% last week.
Silver for September delivery tumbled $1.06, or 4.4%, to end at $23.269 an ounce. Silver futures traded between $22.29 and $24.38. They sank 4.8% last week.
In other precious metals prices Monday:
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October platinum dipped $1.30, or 0.1%, to $970.90 an ounce, ranging from $954 to $980.60.
- Palladium for September delivery declined $28, or 1.1%, to $2,602.10 an ounce, trading between $2,598 and $2,640.
Last week platinum dropped 7.3% and palladium fell 1%.
US Mint Bullion Sales in 2021
Published United States 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.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Monday | Last Week | June | July | August | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 15,500 | 158,000 | 49,500 | 15,500 | 649,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 15,000 | 10,000 | 0 | 56,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 30,000 | 0 | 0 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 15,000 | 90,000 | 40,000 | 15,000 | 295,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 3,000 | 27,500 | 14,500 | 3,000 | 211,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 612,500 | 2,800,000 | 3,104,000 | 612,500 | 19,623,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 52,900 |
What a debacle in the precious metals market on Friday & today!! The only precious metal price increase today was Rhodium (a platinum group metal & therefore a catalyst) at $20,200 per ounce, up $50. (Looking for my Baird & Company, London, rhodium ingot I bought many moons ago at a near high at the time as a fad).
NumisdudeTX