Precious metals scored gains for a third consecutive session on Monday. Advances ranged from 0.6% for gold to 2.5% for palladium. Gold marked a more than two-month high.
Gold for December delivery rose $11.20 to settle at $1,828 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Sept. 3 when gold ended at $1,833.70 an ounce.
"It appears the metals traders have turned their focus from the bearish aspects of a tighter U.S. monetary policy, to the bullish prospects of rising and even problematic price inflation in the coming months. A lower U.S. dollar index to start the trading week was also friendly for the metals market bulls" Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,813.80 to a high of $1,828.30. They surged 1.8% last week.
Silver for December delivery tacked on 38.5 cents, or 1.6%, to settle at $24.542 an ounce. The close was the best since Oct. 25 when silver finished at $24.592 an ounce. Silver futures traded between $24.13 and $24.59. They gained 0.9% last week.
In other precious metals futures prices on Monday:
-
January platinum surged $24.20, or 2.3%, to $1,060 an ounce, ranging from $1,033.30 to $1,066.60.
- Palladium for December delivery rallied $50.10 to $2,077.70 an ounce, trading between $2,025.50 and $2,088.
Last week platinum rose 1.5% and palladium advanced 2.4%.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales were unchanged on 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 | September | October | November | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 17,500 | 67,500 | 135,500 | 17,500 | 966,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 2,000 | 4,000 | 7,000 | 2,000 | 90,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 8,000 | 22,000 | 2,000 | 152,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 35,000 | 85,000 | 10,000 | 460,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 24,000 | 38,500 | 0 | 298,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 474,500 | 2,735,000 | 1,076,000 | 474,500 | 27,226,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 7,900 | 0 | 0 | 7,900 | 82,900 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 52,900 |
