Precious metals started the new trading week on Monday with gains ranging from 0.2% for gold to 2.3% for palladium.
Gold for December delivery climbed by $4.50 to settle at $1,947.20 an ounce on the Comex division of the New York Mercantile Exchange.
"A solidly lower U.S. dollar index is a supportive outside market element for the metals on this day. Short covering in the gold and silver futures markets is also featured ahead of a key U.S. inflation report on Wednesday," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
On the day, gold futures traded between $1,939.50 and $1,954.60, after falling last week by 1.2%.
Silver for December delivery tacked on 20.9 cents, or 0.9%, ending at a price of $23.383 an ounce. Silver futures ranged from $23.18 and $23.52. They sank by 5.7% last week.
In other precious metals on Monday:
October platinum added $7.50, or 0.8%, to $902.30 an ounce, trading between $894.80 and $908.90.
- Palladium for December delivery jumped by $26.90 to $1,219.20 an ounce, ranging from $1,195.50 to $1,226.
Last week, platinum plunged by 7.6% and palladium fell by 2.9%.
US Mint Bullion Sales in 2023
On Monday, published U.S. Mint bullion sales were unchanged. 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||July||August||September||2023 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||3,500||41,000||78,000||3,500||748,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||2,000||0||75,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||0||134,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||20,000||0||150,000||20,000||555,000|
|$50 American Buffalo 1 Oz Gold Coin||0||14,000||16,500||19,500||14,000||326,500|
|$1 American Eagle 1 Oz Silver Coin||0||717,000||209,100,000||3,124,000||717,000||15,656,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||12,700|