Gold Edges Up to Another 9-Month High

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Prices for precious metals split on Monday with those for gold and platinum rising and those for silver and palladium falling. Gold’s gain was its third in a row. The yellow metal also posted a fresh, nine-month high.

Gold for February delivery inched up 40 cents, or 0.02%, to settle at $1,928.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was again gold’s highest since it ended at $1,934.30 an ounce on April 22.

"Bond yields ticked up slightly and the dollar has been going up here this morning — that’s just putting some pressure here on gold," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.

"A lot of people will start hopping in when we see some support around $1,950 to see the inevitable move towards $2,000."

Gold futures traded between $1,912.50 and $1,936.70. They climbed 0.3% last week.

Silver for March delivery declined 38.1 cents, or 1.6%, to settle $23.554 an ounce. Silver futures ranged from $22.84 and $24.30. They fell 1.8% last week.

In other precious metals on Monday:

  • April platinum moved up $8.50, or 0.8%, to $1,056.30 an ounce, trading between $1,035.90 and $1,059.50.

  • Palladium for March delivery declined $21.80, or 1.3%, to $1,701.40 an ounce, ranging from $1,690.50 to $1,748.50.

Last week, platinum fell 2.3% and palladium dropped 3.6%.

US Mint Bullion Sales in 2023

Published United States Mint bullion sales increased on Monday by 3,500 ounces in American Gold Eagles and by 9,000 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 November December 2022 Sales Last Week 2023 Sales
$50 American Eagle 1 Oz Gold Coin 3,500 6,000 4,000 850,000 11,000 104,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 75,000 1,000 35,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 140,000 2,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 575,000 0 115,000
$50 American Buffalo 1 Oz Gold Coin 9,000 4,500 0 410,000 500 53,500
$1 American Eagle 1 Oz Silver Coin 0 1,407,000 59,000 15,963,500 500,000 3,949,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 80,000 0 0
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Kaiser Wilhelm

Gold just keeps chugging along, ever upward. Now if silver could only emulate that.