Gold Rises; Silver Logs Over 2-Month Low


In precious metals prices on Monday, gold gained while silver, platinum and palladium declined. Silver ended the day at a more than two-month low.

Gold for April delivery rose $2.90, or 0.2%, to settle at $1,879.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Bulls are now working to stop the bleeding following a surprisingly strong U.S. jobs report Friday that tanked the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $1,873.20 and $1,894. They finished 2.7% lower last week, for their first weekly loss in seven weeks, ending Friday at their lowest price since Jan. 10.

Silver for March delivery declined 16.8 cents, or 0.8%, to end at $22.237 an ounce. The close was the lowest since silver finished at $21.781 an ounce on Nov 30. Silver futures ranged from $22.17 to $22.64. They dropped last week by 5.2%.

In other precious metals prices on Monday:

  • April platinum shed $5.70, or 0.6%, to $974.60 an ounce, trading between $971.40 and $989.90.

  • Palladium for March delivery fell $39, or 2.4%, to $1,579.40 an ounce, ranging from $1,539 to $1,621.

Last week, platinum lost 3.6% while palladium gained 1.2%.

US Mint Bullion Sales in 2023

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)
Last Week January Sales February
$50 American Eagle 1 Oz Gold Coin 13,500 118,000 0
$25 American Eagle 1/2 Oz Gold Coin 2,000 37,000 0
$10 American Eagle 1/4 Oz Gold Coin 10,000 62,000 0
$5 American Eagle 1/10 Oz Gold Coin 0 115,000 0
$50 American Buffalo 1 Oz Gold Coin 5,500 59,000 0
$1 American Eagle 1 Oz Silver Coin 0 3,949,000 0
$100 American Eagle 1 Oz Platinum Coin 0 0 0
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Going with the theme of lower silver prices, it looks like the Mint will be giving us a deal on the new 2023 Morgan and Peace Silver Dollars coming out later this year compared to the price of $85 they charged for the 2021 Morgan and Peace Silver Dollar Uncirculated Coins. The Subscription price is approx. $67 for the 2023 Morgan and Peace Silver Dollar Uncirculated coins (release date: Summer 2023) and the Subscription price is approx. $73 for the 2023 Morgan and Peace Silver Dollar Proof coins (release date: Fall 2023). However, the Morgan and Peace Dollar 2023 Two-Coin… Read more »


You know how the national motto is E * Pluribus * Unum? Mine is Don’t * Count * On * It.


… as akin to E Pluribus Fool ‘Em.


$73 for the Proof 2023-W American Eagle silver dollar, per Coin World. 25 coins per household. On sale March 2.

They also say, “The Mint also plans to offer sometime this fall, on an as yet undisclosed date, a Proof 2023-S American Eagle silver dollar.”

Spot price of silver? … low $20s.