Gold Prices Mark 8-Month High

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Gold prices advanced for a second straight session on Monday, ending at a just over 8-month high, while silver, platinum and palladium declined.

Scoring its sixth gain in seven sessions, gold for February delivery rose $8.10, or 0.4%, to settle at $1,877.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s best since ending at 1,882.80 an ounce on May 6.

Gold is "certainly glittering, gaining over 2.8% since the start of 2023 thanks to a softer dollar, falling Treasury yields and expectations of a less hawkish" Federal Reserve, Lukman Otunuga, manager of market analysis at FXTM, told MarketWatch on Monday.

Gold futures traded between $1,869.30 and $1,886.40. They jumped 2.4% last week.

Silver for March delivery shed 11.1 cents, or 0.5%, to close at $23.871 an ounce. Silver futures ranged from $23.80 to $24.29. Silver traded 0.2% lower last week.

In other precious metals futures prices on Monday:

  • April platinum lost $5.70, or 0.5%, to $1,098.50 an ounce, ranging from $1,094.30 to $1,115.60.

  • Palladium for March delivery fell $31.30, or 1.7%, to $1,775.40 an ounce, trading between $1,758 and $1,841.

Last week, platinum gained 2% and palladium rose 0.5%.

US Mint Bullion Sales in 2023

Published United States Mint bullion sales last changed on Dec. 29. 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)
August September October November December 2022 Sales 2023 Sales
$50 American Eagle 1 Oz Gold Coin 47,500 47,500 59,500 6,000 4,000 850,000 0
$25 American Eagle 1/2 Oz Gold Coin 2,000 0 2,000 0 0 75,000 0
$10 American Eagle 1/4 Oz Gold Coin 4,000 4,000 2,000 0 0 140,000 0
$5 American Eagle 1/10 Oz Gold Coin 20,000 15,000 15,000 0 0 575,000 0
$50 American Buffalo 1 Oz Gold Coin 22,500 44,500 39,500 4,500 0 410,000 0
$1 American Eagle 1 Oz Silver Coin 850,000 833,000 1,258,000 1,407,000 59,000 15,963,500 0
$100 American Eagle 1 Oz Platinum Coin 1,000 0 0 0 0 80,000 0
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Kaiser Wilhelm

Gold is now $170 over palladium. If this holds up, there’s a new p.m. leader in town.

Kaiser Wilhelm

Not on today’s subject but most especially worth taking notice of, the bronze medals in both the 1 1/2 inch ($20) and 3 inch ($160) formats honoring the service and sacrifices of the United States Capitol Police on January 6, 2021, during the insurrectionist attack on the U.S. Capitol Building were released January 6, 2023. Not since the British sacked Washington, D.C., during the War of 1812 had our Capitol come under attack until January 6, 2021, another day that will “live in infamy”; this type of event did not occur even during the height of the Civil War.

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Antonio

Brazil had the same thing happen to them. We lead by example. Sad.

Kaiser Wilhelm

Yes, and that’s what led Bolsonaro into believing he could void election results.

Last edited 16 days ago by Kaiser Wilhelm