Gold Logs Another 11-Month High as Prices Briefly Top $2,000/Oz


Precious metals kicked of the new trading week with gains on Monday. Gold and silver marked another round of settlement highs — 11 months for the former and 1.5 months for the latter. For a moment and for the first time in over a year, gold prices also topped $2,000 an ounce.

Gold for April delivery rose $9.30, or 0.5%, to end at $1,982.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was another best since April 18. Gold futures traded between $1,970 and $2,014.90 — the highest intraday price since March 10, 2022.

"Some normal profit-taking pressure and chart consolidation are seen on the price pullbacks," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. Still, safe-haven demand for the metals is present in a shaky general marketplace amid the U.S. and European banking crisis.

Gold prices soared 5.7% last week.

Meanwhile, silver for May delivery moved up 18.4 cents, or 0.8%, to close at $22.646 an ounce. The settlement was another high since Feb. 2. Silver futures ranged from $22.35 and $22.86. They rallied last week by 9.5%.

In other precious metals prices on Monday:

  • April platinum advanced $18.20, or 1.9%, to $996.80 an ounce, trading between $969.50 and $1,008.20.

  • Palladium for June delivery added $14.50, or 1.1%, to $1,400.60 an ounce, ranging from $1,374.50 to $1,424.

Last week, platinum gained 1.7% and palladium rose 1.8%.

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)
Monday Last Week January Sales February March 2023 Sales
$50 American Eagle 1 Oz Gold Coin 0 39,500 118,000 41,500 50,000 209,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 37,000 8,000 1,000 46,000
$10 American Eagle 1/4 Oz Gold Coin 0 8,000 62,000 12,000 10,000 84,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 115,000 85,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 0 14,500 59,000 19,500 19,000 97,500
$1 American Eagle 1 Oz Silver Coin 0 0 3,949,000 900,000 450,000 5,299,000
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Time has come today for $2,000 Gold, again.

Kaiser Wilhelm

There’s no way to look at this, Good Sir Rich, other than how this elevated gold pricing leads to higher gold product prices at the Mint. I suppose those who already own gold can celebrate while those who are just getting into it will have to bite the bullet.


It may have reached that, but it closed at $1,983.60. Maybe tomorrow.

Seth Riesling

Just remember, the precious metals prices listed in this article each day are for futures contracts for the metals, & are NOT the daily spot fix prices used by coin dealers.


Kaiser Wilhelm

Exactly, Seth, while the spot prices appear in the chart in the upper right hand corner.


the futures ladder shows gold going over $2000 starting around june. so maybe a little patience…

Seth Riesling

Gold is down $31 this morning…


Seth Riesling

Now, gold is down $40 an ounce this afternoon…any bets about when spot gold price will close at $2000 or above?



Yesterday spot gold hit $2,010 before closing at $1,978. Today, at 2:25 ET spot gold is down to $1,939. Let’s see what happens tomorrow after the FED does its thing…

Seth Riesling

True, the 2-day FOMC meeting of the Fed results released tomorrow will move markets for sure.


Kaiser Wilhelm

Seth Riesling and Good Sir Rich, all other considerations and factors aside, and at least in my opinion, it’s rather pleasing and almost comforting to see good old gold at the very top of the precious metals heap again.