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:
-
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 |
Me gold is on the other side of the rainbow. 🙂
Spot gold is $1978.80 per oz. right now. Spot gold hasn’t closed above $2000 this year, unless I missed a day or two looking at trading.
NumisdudeTX
Correct, Seth. It’s been above $2000 a couple times, but for just a brief moment. With all the geopolitical and economic concerns abroad, and here, one would think it should easily be above that mark.I guess Biden is working diligently to keep these factors in check.
Craig and Seth, something just broke at 10am ET today (4/4/23) and spot gold spiked up over $30 to $2,020 (at 10:20am ET) as the US$ Index tanked. Let’s see if it can hold above $2,000 at the close today.
Very interesting for sure Rich. I wasn’t watching business news as I usually do in the morning because I’m glued to cable tv live news coverage of grifter Trump being arrested & charged in court for the first time. HISTORY!
NumisdudeTX
He’s the only wealthy person in the USA who is having trouble finding lawyers to represent him! Of the 4 lawyers seated by him at the table today, he only personally knows 1 of them. The other 3 all required him to send them their retainer fee by bank wire transfer before they would officially represent him. He becomes more toxic each day…and he may spontaneously combust at any moment…I wouldn’t stand anywhere near that miscreant…not even for all the gold in Mar-a-Lago…LOL.
NumisdudeTX
Why am I trying to picture garbage pail kid Joe Blow after reading your comic. Could also work for biden. That is a great card. Let’s make it trend. Post one on ebay for $75,000. Even better. Or print your own and slab it.
I totally agree Craig.
This morning spot gold is finally firmly above $2000. I wonder if it will stay above that mark…
NumisdudeTX
If crypto to the moon, are we headed for Mars? Or will corrupt gubmint send our trajectory to Uranus
April Fool’s Gold