Aside from palladium, precious metals changed little, or not at all, in their start to the new trading week on Monday.
Gold for April delivery settled flat at $1,854.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, April gold futures bulls have the slight overall near-term technical advantage. A price downtrend on the daily chart has been negated. Bulls’ next upside price objective is to produce a close above solid resistance at $1,900.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the February low of $1,810.80,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,850.60 and $1,864.30. They rose 2.1% last week, snapping a four week losing streak.
Silver for May delivery shed 10.3 cents, or 0.5%, to settle at $21.135 an ounce. Silver prices ranged from $21.07 to $21.40. They also gained 2.1% last week, for their first weekly advance in seven weeks.
In other precious metals prices on Monday:
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April platinum dipped 80 cents, or 0.08%, to $978.60 an ounce, trading between $966 and $984.
- Palladium for June delivery fell $24.50, or 1.7%, to $1,424.50 an ounce, ranging from $1,404 to $1,447.
Last week, platinum soared 7.9% and palladium jumped 5.2%.
US Mint Bullion Sales in 2023
Published United States Mint bullion sales were unchanged. 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 Sales | February | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 32,500 | 118,000 | 41,500 | 159,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 7,000 | 37,000 | 8,000 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 10,000 | 62,000 | 12,000 | 74,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 20,000 | 115,000 | 85,000 | 200,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 14,500 | 59,000 | 19,500 | 78,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 450,000 | 3,949,000 | 900,000 | 4,849,000 |
