Precious metals declined as a group on Monday, following their two straight session gains. Losses on the day ranged from 0.6% for gold to 2.2% for palladium.
Gold for February delivery shed $10.30 to settle at $1,794.60 an ounce on the Comex division of the New York Mercantile Exchange.
"The safe-haven metals were unable to benefit from a risk-off trader and investor mentality in the marketplace to start the holiday-shortened trading week. A big drop in crude oil prices today apparently trumped the safe-haven trade in the metals,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,789 to a high of $1,804.60. They gained 1.1% last week, ending Friday at their best price since Nov. 22.
Silver for March delivery fell 24.1 cents, or 1.1%, to settle at $22.291 an ounce. Silver futures traded between $22.19 and $22.44. They traded 1.5% higher last week.
In other precious metals prices on Monday:
January platinum declined $8.10, or 0.9%, to $926.40 an ounce, ranging from $909.20 to $932.
- Palladium for March delivery fell $38.90 to $1,745.90 an ounce, trading between $1,688 and $1,778.
Last week platinum edged 0.03% higher and palladium rose 2%.
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||October||November||December||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||14,500||135,500||125,500||41,000||1,115,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||7,000||6,000||1,000||95,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||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||0||2,500||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|