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|