Gold Dips While Other Metals Rise on Monday, Feb. 12


While gold prices fell modestly at the start of the new trading week on Monday, prices for silver, platinum, and palladium rose — significantly for the latter two.

Gold for April delivery shed $5.70, or 0.3%, to settle at $2,033 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is feeling the pressure from bearish daily outside markets that include a firmer U.S. dollar index and a slight up-tick in U.S. Treasury yields. The U.S. stock indexes today hit record highs again, which is also a negative for the safe-haven gold and silver markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold futures traded between $2,025.40 and $2,041.80. They fell by 0.7% last week.

Meanwhile, silver for March delivery rose by 17.3 cents, or 0.8%, closing at $22.767 an ounce. Silver futures ranged from $22.57 to $23.15. They declined by 0.9% last week.

In other precious metals prices on Monday:

  • April platinum tacked on $18.90, or 2.2%, to $897.10 an ounce, trading between $878.30 and $900.60.

  • Palladium for March delivery advanced by $27.30, or 3.1%, to $896.60 an ounce, ranging from $858 to $905.50.

Last week, platinum lost 2.6% and palladium dropped by 8.4%.

US Mint Bullion Sales in 2024

The published U.S. Mint bullion sales last changed on Wednesday, Feb. 7, with gains including 5,000 ounces in American Gold Eagles, 850,000 ounces in American Silver Eagles, and 500 ounces in American Gold Buffalos.

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 January 2024 Sales
$50 American Eagle 1 Oz Gold Coin 0 3,000 87,500 90,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 25,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 46,000 46,000
$5 American Eagle 1/10 Oz Gold Coin 0 20,000 115,000 135,000
$50 American Buffalo 1 Oz Gold Coin 0 500 46,500 47,000
$1 American Eagle 1 Oz Silver Coin 0 850,000 4,900,000 5,750,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0


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Dazed and Coinfused

I have chocolate dipped in gold, does that count