Aside from palladium, precious metals fell at the start of the new trading week on Monday, erasing much or all of their previous gains from last week.
Gold for August delivery declined by $7.50, or 0.4%, to settle at $1,969.70 an ounce on the Comex division of the New York Mercantile Exchange.
"A trio of bearish outside markets are pressuring the precious metals today: a firmer U.S. dollar index, solidly lower crude oil prices and a rise in U.S. Treasury yields. The marketplace is a bit quieter just ahead of the U.S. central bank monetary policy meeting and key U.S. inflation reports,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,963.10 and $1,981.40. They edged 0.4% higher last week.
Elsewhere, silver for July delivery fell by 35.1 cents, or 1.4%, to settle at $24.059 an ounce. Silver futures ranged from $23.95 to $24.40. They advanced by 2.8% last week.
In other precious metals prices on Monday:
-
July platinum dropped by $17.50, or 1.7%, to $995.30 an ounce, trading between $991.80 and $1,013.60.
- Palladium for September delivery moved up by $36.30, or 2.8%, to $1,341.10 an ounce, ranging from $1,296 to $1,352.50.
Last week, platinum rose by 0.9% while palladium plunged by 7%.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales have been unchanged so far this month. 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 / June | Last Week | February | March | April | May | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 41,500 | 211,000 | 159,000 | 60,500 | 590,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 8,000 | 1,000 | 8,000 | 18,000 | 72,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 12,000 | 10,000 | 12,000 | 32,000 | 146,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 35,000 | 80,000 | 325,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 19,500 | 73,000 | 61,000 | 47,000 | 259,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 900,000 | 900,000 | 900,000 | 1,593,000 | 8,242,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 7,500 | 500 | 1,200 | 9,200 |
