On Monday, precious metals, excluding silver, started the new trading week with gains. Palladium led the way, soaring by 5.2%.
Gold for June delivery rose by $8.40, or 0.4%, to settle at $2,033.20 an ounce on the Comex division of the New York Mercantile Exchange.
"The key outside markets are friendly for the precious metals to start the trading week, as the U.S. dollar index is a bit weaker and crude oil prices are solidly higher. However, gains in the precious metals are being limited by a rise in U.S. Treasury yields today. The technical charts remain solidly bullish for gold and silver," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $2,022 and $2,037.10, and despite falling 1.5% on Friday, they gained 1.3% last week. On Thursday, gold settled at its best price since reaching a record on Aug. 6, 2020, closing at $2,055.70 an ounce.
Silver for July delivery shed 9.6 cents, or 0.4%, to close at $25.834 an ounce. Silver futures ranged from $25.77 to $25.99. They advanced by 2.8% last week, despite dropping 1.1% on Friday. On Thursday, silver at $26.227 an ounce logged its highest finish since March 10, 2022.
In other precious metals prices on Monday:
-
July platinum increased by $19.40, or 1.8%, to $1,087.70 an ounce, trading between $1,065.40 and $1,096.90.
- Palladium for June delivery soared $76.60 to $1,563.40, ranging from $1,486 to $1,581.
Last week, platinum fell 2% and palladium declined 1.5%.
US Mint Bullion Sales in 2023
Sales figures published by the U.S. Mint on Monday showed an increase in bullion coins for the first time this month. American Gold Eagles saw gains of 17,500 ounces, American Gold Buffalos increased by 23,000 ounces, and American Silver Eagles advanced by 450,000 ounces.
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 / May | Last Week | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 13,000 | 0 | 41,500 | 211,000 | 159,000 | 542,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 18,000 | 0 | 12,000 | 10,000 | 12,000 | 114,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 35,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 23,000 | 0 | 19,500 | 73,000 | 61,000 | 235,500 |
| $1 American Eagle 1 Oz Silver Coin | 450,000 | 0 | 900,000 | 900,000 | 900,000 | 7,099,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 7,500 | 500 | 8,000 |
Do I hear a here, here and a humph, humpth?
Kaiser,
The platinum group metals have been up quite a bit lately after so much downward movement for quite a long while now.
In other news, I haven’t heard the Humpty song in many years… thanks for that photo!
“My name is Humpty…I like my oatmeal lumpy…I once got busy in a Burger King bathroom…Peace & humptiness ladies…” LMAO.
NumisdudeTX