Precious metals plunged in starting the new trading week on Monday. Their losses ranged from 1.2% for gold to 13.6% for palladium.
Gold for April delivery gave back $24.20 to settle at $1,960.80 an ounce on the Comex division of the New York Mercantile Exchange. The close was gold’s weakest since March 3.
"Gold and silver prices are solidly lower in midday U.S. trading Monday, as trader/investor risk appetite is just a bit better to start the trading week. Also, crude oil prices have dropped sharply from last week’s 14-year highs, including Nymex crude at one point today dipping below $100.00 a barrel. That’s putting downside pressure on most of the raw commodity sector,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,952 and $1,994.80. They rose 0.9% last week. Last Tuesday, gold at $2,043.30 an ounce scored its highest settlement since Aug. 6, 2020.
Silver for May delivery dropped 86.2 cents, or 3.3% to settle at $25.298 an ounce. Silver futures ranged from a low of $25.16 to a high of $26.29. They gained 1.4% last week.
In other precious metals futures prices on Monday:
-
April platinum fell $36.30, or 3.3%, to $1,052.30 an ounce, trading between $1,037.90 and $1,100.
- Palladium for June delivery plummeted $379.20 to $2,417.60 an ounce, ranging from $2,310 and $2,788.
Last week, platinum lost 2.5% and palladium tumbled 6.2%.
US Mint Bullion Sales in 2022
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 | January | February | March | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 60,500 | 123,500 | 86,000 | 69,000 | 278,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 45,000 | 0 | 1,000 | 46,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 12,000 | 64,000 | 4,000 | 12,000 | 80,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 45,000 | 195,000 | 25,000 | 45,000 | 265,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 22,000 | 61,500 | 28,500 | 27,000 | 117,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 600,000 | 5,001,000 | 1,500,000 | 600,000 | 7,101,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 6,500 | N/A | 25,800 | 11,200 | 37,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 |
LMAO Anyone buying Gold on Thursday?
Isn’t the actual content of the gold the same?
Yes Phil, the actual gold weight content is the same. The 22K gold (composition = 91.67% pure gold) Gold American Eagle Gold Fine Weight = 1.000 troy ounce and the 24K gold (composition = 99.99% gold) Gold American Buffalo Weight = 1.0000 troy ounce. The Gold Canadian Maple Leaf is also 24K gold (.9999 fine) with actual gold weight = 1.0000 troy ounce. The Royal Canadian Mint even produces .99999 fine gold 1 troy ounce coins. In all cases these 1-oz gold coins contain exactly 1 troy ounce of gold.
Sir Kaiser, seemingly dazed and confused, its really all right, all right, all right. I should have discerned between (actual) weight (i.e., what the coin weighs) and gold fine weight (the metal [gold] content). The Mint’s 22K and 24K One Ounce Gold Coins all contain 1 troy ounce of fine gold, gold (metal) content = 1 troy ounce. As Major D posted, the differences in composition is adjusted for in grams weight. Here are the Mint’s specifications: $50 GAE 22K composition = 91.67% gold weight = 1.0909 troy ounce = 33.931 grams gold fine weight (gold content) = 1.000 troy… Read more »
Those tricky troy ounces explained
It’s like an Imperial Gallon is slightly more than a U.S. gallon.
Right On Bro
Major D, as you probably know the first gold bullion coin was the iconic South African Krugerrand, issued years before the Gold American Eagle came out in 1986. The Krugerrand was first minted in 1967 in 22K gold with gold composition = 91.67% purity (the remaining 8.33% is copper), setting the standard for gold bullion coins at the time. The reason for alloying gold with more common, harder metals is to make it less prone to scratches and other damage. Silver, zinc, and copper are all commonly combined with gold to make it more durable and less susceptible to visible… Read more »
Did you say ???????????? Oh My!
I always get the 1/10th but if you buy it plan on keeping it for a while because nobody is buying Gold right now https://www.youtube.com/watch?v=0fJh2gIBOto
Thanks for the heads up, Sir Kaiser. Looks like the Mint is shooting blanks again! Here is the copy of the Mint’s press release today: The United States Mint (Mint) today announced it will forgo the production and sales of Morgan and Peace Silver Dollars in 2022. This calculated pause is directly related to the global pandemic’s impact upon the availability of silver blanks from the Mint’s suppliers. The suspension will give the Mint time to evaluate the best way to allocate our limited supply of silver to ensure the best customer experience we can. “We’ll be required to make… Read more »
Next year will be another excuse the US Mint is just another failed Zombie company walking dead with all the printed FED phoniness – it’s finally Toast
Damn I never win anything
So, we will probably be able to buy the Gold but they won’t be able to ship it until 2525 https://www.youtube.com/watch?v=zKQfxi8V5FA
or https://www.youtube.com/watch?v=JNbUUSuiEho
As long as the booty agents arrest and abuse me I’m good with that
They took this one down. Who you ask? The YouTube police.
Maybe shortage of silver blanks, but ZERO shortage of silver.
I collect PAMP’s and I have not seen any new bars produced since the Plandemic began…..
You have to be careful buying them because somebody told me APMEX had a few bars recently but ——– those were repurchased bars from customers not pamp direct bars and I don’t buy those repurchased bars.
The Rich are drunk on free FED money – there is no supply chain issues – all of the supplies are going directly to the wealthy as planned.
Footnote: I googled “wealthy loser” for my image and it brought back a perfect match
There is only one problem with that
Or
Somehow that makes perfect sense
They might as well shut the doors and turn out the lights that place is toast – I been looking into a new hobby anyways
Right up there with nude volleyball – no hands allowed of course
On this day in history the US Mint has failed The People
🙂
I have a feeling there is no shortage for them
On another thread, Chris Terp just mentioned that the Mint is sending out email notifications to all concerned advising about the cancellation/postponement of the 2022 release of the Morgan & Peace Proof Silver Dollars. The Mint sure is struggling with their 2022 Product Schedule this year.
Save those notices they will be collectibles – I know it’s going to be worth something someday
Not to silverfish.
It’s a new race to the bottom
Have I ever told you how I feel about Twitter
Hey! Where’s mine? I haven’t gotten an email about this. I found out about it from Coin World.
Beware the Ides of March. Julius Caesar by William Shakespeare.
Hell Yeah the shizz seems to be piling up rather high this month https://www.youtube.com/watch?v=7LuSP4QaXiQ
Call it Frankenstein Recycled!
Well, since the Mint is postponing the Morgan and Peace dollars till 2023 and seem hell bent on only producing comm’s, it looks like I too will save mucho bucks.I’ll purchase a couple ASE’s, assuming the mint has enough silver planchettes to mint them. Is there a part of our government that isn’t currently incompetent? At least we don’t have to read ‘mean tweets’ any longer, that should be worth the extra few thousand dollars the average family will pay this year for ‘everything.’
US Mint too big to fail too stupid to succeed
Amen
I was really hoping for those this year. I may not even buy the ASEs when available. That’s fine, they’ll probably sell out in 2 minutes anyway to the dealers and flippers.