Precious metals split in their start to the new trading week on Monday. Platinum and palladium gained while gold and silver declined. Silver ended the day at another, more than two-month low.
Gold for February delivery shed $4.40, or 0.3%, to settle at $1,779.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is going to remain in a choppy trading environment as there is a push-pull in the market; one side, we have the market anticipating faster tapering and on the other, we have safe-haven demand at the idea of inflation running hot," Reuters quoted David Meger, director of metals trading at High Ridge Futures.
Gold futures ranged from a low of $1,776.40 to a high of $1,789. They edge 0.09% lower last week. On Thursday, they marked their lowest close since Oct. 12.
Silver for March delivery declined 21.8 cents, or 1%, to end at $22.263 an ounce. The settlement was the lowest since Sept. 30 when silver finished at $22.047 an ounce. Silver futures traded between $22.12 and $22.64. Last week they fell 2.7%.
In other precious metals futures prices on Monday:
-
January platinum rose $10.20, or 1.1%, to $936.40 an ounce, ranging from $916.40 and $939.60.
- Palladium for March delivery tacked on $33, or 1.8%, to $1,845.60 an ounce, trading between $1,750 and $1,855.
Last week platinum dropped 2.9% while palladium advanced 1.3%.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales increased Monday by a combined 26,000 ounces of 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 | October | November | December | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 18,500 | 135,500 | 125,500 | 20,500 | 1,095,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 2,000 | 7,000 | 6,000 | 2,000 | 96,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 22,000 | 10,000 | 0 | 160,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 85,000 | 40,000 | 0 | 490,000 |
| $50 American Buffalo 1 Oz Gold Coin | 7,000 | 41,000 | 39,500 | 8,000 | 348,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,076,000 | 1,523,500 | 0 | 28,275,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 75,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 8,700 | 0 | 8,700 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 52,900 |
Gold is resting at a key support level and if it doesn’t hold we can expect significant declines in Gold and cement the fact that the White House printing free money for the rich and punishing savers is the new normal and Gold and Silver are worthless.
Well said kaiser I Salute You https://www.youtube.com/watch?v=NCwUirA35HU
As some have said “end it”!
Does anyone know: Are only “S” Morgan and Peace $ being offered in 2022 (they are only ones on mint schedule.) Also, at least, one of the “18” are showing “CC” Morgan and Peace available 12/10: does that mean they were sold to dealers to reach mintage limits of 175,000 and 200,000?
Thanks.
What Chuck said!
Might have been his first executive order!
OR https://www.youtube.com/watch?v=9dfk9aCeuPA