On Monday, prices for gold, silver and palladium declined, while platinum, on the other hand, edged higher.
Gold for June delivery gave back $4.40, or 0.2%, settling at $1,977.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures traded between $1,970.70 and $1984.80, after falling 1.9% last week.
Meanwhile, silver for July delivery declined 19.9 cents, or 0.8% to close at $23.861 an ounce. Silver futures ranged from $23.76 and $24.09. Silver prices shed 0.4% last week.
"The two markets [gold and silver] are seeing pressure on chart-based selling as their near-term technical postures have deteriorated recently. A higher U.S. dollar index and a rise in U.S. Treasury yields to start the trading week are also bearish for the precious metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
In other precious metals prices on Monday:
July platinum edged up by $1.60, or 0.2%, to $1,077.30 an ounce, trading between $1,065.80 and $1,87.90.
- Palladium for June delivery fell by $31.60, or 2.1%, to $1,492.20, ranging from $1,486 to $1,526.
Last week, platinum rose 0.8% while palladium gained 0.7%.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales were unchanged on Monday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
|US Mint Bullion Sales (# of coins)|
|Monday||Last Week||February||March||April||May||2023 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||21,500||41,500||211,000||159,000||34,500||564,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||8,000||1,000||8,000||0||54,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||18,000||12,000||10,000||12,000||18,000||132,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||85,000||10,000||35,000||0||245,000|
|$50 American Buffalo 1 Oz Gold Coin||0||9,500||19,500||73,000||61,000||32,500||245,000|
|$1 American Eagle 1 Oz Silver Coin||0||403,000||900,000||900,000||900,000||853,000||7,502,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||N/A||7,500||500||0||8,000|