Gold and silver prices rose slightly on Monday. Platinum and palladium, meanwhile, posted declines. Palladium’s drop was severe, and its third in a row.
Gold for February delivery gained $3.50, or 0.2%, to settle at $1,788.30 an ounce on the Comex division of the New York Mercantile Exchange.
"It’s a pretty quiet day for gold as the market awaits the FOMC’s meeting to see what central banks have to say about inflation and interest rates," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.
"The fact that no one is expecting a rate increase this week by any central bank is lending some support to gold"
Gold futures ranged from a low of $1,782.20 to a high of $1,792.80. They inched 0.05% higher last week.
Silver for March delivery rose 13.3 cents, or 0.6%, to settle at $22.328 an ounce. Silver futures traded between $22.16 and $22.43. They declined 1.3% last week.
In other precious metals futures prices on Monday:
-
January platinum fell $9.60, or 1%, to $924.60 an ounce, ranging from $921.60 to $949.70.
- Palladium for March delivery lost $75.10, 4.3%, to $1,674.70 an ounce, trading between $1,658 and $1,787.
Last week platinum rose 0.9% while palladium plunged 3.5%.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales increased Monday by 15,000 0ounces in American Gold Eagles and by 2,500 ounces in American Gold Buffalos.
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 | October | November | December | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 14,500 | 24,500 | 135,500 | 125,500 | 41,000 | 1,115,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 0 | 7,000 | 6,000 | 1,000 | 95,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 22,000 | 10,000 | 2,000 | 162,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 40,000 | 0 | 490,000 |
| $50 American Buffalo 1 Oz Gold Coin | 2,500 | 7,000 | 41,000 | 39,500 | 10,500 | 350,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 1,076,000 | 1,523,500 | 0 | 28,275,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 75,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 8,700 | 0 | 8,700 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 52,900 |
I can’t buy a cheeseburger with gold and I can’t shoot a rabbit with gold