Precious metals kicked off the start to the new trading year on Monday with losses that ranged from 1.3% for platinum to 4.5% for palladium. Gold and silver each ended near a two-week low.
Gold for February delivery lost $28.50, or 1.6%, to settle at $1,800.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since Dec. 21.
"Bearish daily elements that include a solidly higher U.S. dollar index sharply rising U.S. Treasury yields today are negatives for the precious metals. Also, mostly higher stock indexes Monday suggest still-scant trader and investor risk aversion in the marketplace at present — and that’s bearish for the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,798.20 to a high of $1,833. They rose 0.9% last week to end at their highest price since Nov. 19, but they marked a 3.5% loss in 2021.
Silver for March delivery dropped 54.2 cents, or 2.3%, to close at $22.81 an ounce. The settlement was also the lowest since Dec. 21. Silver futures traded between $22.69 and $23.44. They gained 1.8% last week to score their best finish since Nov. 24, but they plunged 11.6% last year.
In other precious metals futures prices on Monday:
April platinum fell $12.20 to $954 an ounce, ranging from $928.70 to $985.
- Palladium for March delivery declined $86.10 to $1,826 an ounce, trading between $1,818 and $1,907.50.
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. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Monday||Last Week||October||November||December||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||135,500||125,500||41,000||1,115,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||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||0||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|