Precious metals fell in their start to the new trading week on Monday. The losses ranged from 0.2% for gold to 3.1% for palladium.
Gold for December delivery shed $2.60 to settle at $1,765.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Continued strength in bitcoin, which climbed above the $62,000 level for the first time since April, has been a notable source of pressure on the precious metals," analysts at Zaner wrote in a daily report Monday according to MarketWatch.
Gold futures ranged from a low of $1,760.30 to a high of $1,772.50. They climbed 0.6% last week.
Silver for December delivery lost 8.5 cents, or 0.4%, to close at $23.264 an ounce. Silver futures traded between $23.03 and $23.50. They tacked on 2.8% last week
In other precious metals futures prices Monday:
January platinum declined $21, or 2%, to $1,037.90 an ounce, ranging from $1,034.80 to $1,062.70.
- Palladium for December delivery dropped $63.50 to $2,013.10 an ounce, trading between $1,970.50 and $2,081.
Last week platinum gained 3% and palladium edged up 0.2%.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales increased Monday by 492,000 ounces in silver coins and a combined 26,500 ounces in gold coins. 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||August||September||October||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||19,000||12,000||112,000||67,500||112,500||926,000|
|$25 American Eagle 1/2 Oz Gold Coin||2,000||0||21,000||4,000||2,000||83,000|
|$10 American Eagle 1/4 Oz Gold Coin||6,000||0||34,000||8,000||10,000||138,000|
|$5 American Eagle 1/10 Oz Gold Coin||10,000||5,000||50,000||35,000||35,000||400,000|
|$50 American Buffalo 1 Oz Gold Coin||4,000||20,000||27,500||24,000||36,500||296,000|
|$1 American Eagle 1 Oz Silver Coin||492,000||0||3,930,000||2,735,000||992,000||26,667,500|
|$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|