Prices for gold, silver, and platinum increased on Monday, marking their second straight gains, while palladium declined.
Rising for a second consecutive session following nine straight losses, gold for December delivery tacked on $19.10, or 1%, to settle at $1,864.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are higher in midday U.S. trading Monday, on safe-haven demand following the surprise Hamas attack on Israel over the weekend. This already dire situation is likely to get worse before it gets better, which likely means even stronger safe-haven flows into gold and silver for at least the near term," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,857.50 and $1,877.30. They declined by 1.1% last week.
Silver for December delivery increased by 20.1 cents, or 0.9%, closing at $21.924 an ounce. Silver futures ranged from $21.70 and $22.18. They fell by 3.2% last week.
In other precious metals prices on Monday:
-
January platinum rose by $7.30, or 0.8%, to $888.80 an ounce, trading between $877.50 and $896.90.
- Palladium for December delivery declined by $31.20, or 2.7%, to $1,131.90 an ounce, ranging from $1,116.50 to $1,169.50.
Last week, platinum lost 3.8% and palladium tumbled by 7.4%.
US Mint Bullion Sales in 2023
Bullion sales from the U.S. Mint have remained unchanged since Thursday. 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 | October | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 40,500 | 41,000 | 78,000 | 27,500 | 40,500 | 812,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 2,000 | 0 | 2,000 | 13,000 | 2,000 | 90,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 6,000 | 0 | 2,000 | 30,000 | 6,000 | 170,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 0 | 150,000 | 40,000 | 10,000 | 585,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 13,500 | 16,500 | 19,500 | 18,500 | 13,500 | 344,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 785,000 | 2,091,000 | 3,124,000 | 2,970,000 | 785,000 | 18,694,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
