While other precious metals declined on Monday, gold kicked off the new month of April by registering a more than one-year high.
Gold for June delivery increased by $14.20, or 0.7%, and reached a settlement of $2,000.40 an ounce on the Comex division of the New York Mercantile Exchange. This finish is the highest since March 10, 2022, when gold also ended at the same price.
"Gold is getting a boost from a downbeat U.S. economic report, sharply higher crude oil prices, a lower U.S. dollar index and a dip in U.S. Treasury yields," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,965.90 and $2,008. Last week marked their fifth consecutive weekly gain, and they also recorded an increase in March of 8.1%.
After a 4-session winning streak and hitting an 11-week high, silver for May delivery dropped 13.5 cents, or 0.6%, to $24.021 an ounce. Silver futures traded between $23.72 and $24.34. They closed on Friday at their highest price since Jan. 13 and recorded a 14.6% gain for the month of March.
In other precious metals prices on Monday:
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July platinum lost $6.70, or 0.7%, to $996.40 an ounce, ranging from $987.10 to $1,009.20.
- Palladium for June delivery declined $10, or 0.7%, to $1,458 an ounce, trading between $1,438.50 and $1,498.50.
US Mint Bullion Sales in 2023
There were no changes in the published U.S. Mint bullion sales on Monday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Monday | Last Week | January Sales | February | March | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 53,500 | 118,000 | 41,500 | 211,000 | 370,500 |
| $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 | 0 | 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 | 15,500 | 59,000 | 19,500 | 73,000 | 151,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 3,949,000 | 900,000 | 900,000 | 5,749,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | N/A | 7,500 | 7,500 |
