Gold Rises on Tuesday, Feb. 20, While Silver Declines


At the start of the new trading week on Tuesday, prices for silver declined, while those for gold, platinum, and palladium gained.

Gold for April delivery tacked on $15.70, or 0.8%, to settle at $2,039.80 an ounce on the Comex division of the New York Mercantile Exchange.

"The yellow metal is getting a lift due to China dropping key interest rates for mortgages in an effort to jumpstart its troubled housing/property sector. That could translate into better demand for metals, down the road, from the world’s second-largest economy," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. "Also, a weaker U.S. dollar index and a dip in U.S. Treasury yields to start the U.S. trading week are helping out the gold market bulls."

Gold futures traded between $2,023.90 and $2,042.70. They fell by 0.7% last week. Last Wednesday, gold at $2,004.30 an ounce registered its lowest settlement since Dec. 13.

After three sessions of exceptional gains, silver started the week with a loss, falling 33.9 cents, or 1.4%, to end at $23.136 an ounce. Silver futures ranged from $22.95 to $23.51. They rallied 3.9% last week. Of note, last Tuesday, silver at $22.154 an ounce marked its weakest price since Oct. 12.

In other precious metals prices on Tuesday:

  • April platinum edged up by 80 cents, or 0.09%, to $914.30 an ounce, trading between $900.60 and $921.70.

  • Palladium for March delivery advanced by $30.50, or 3.2%, to $983.30 an ounce, ranging from $937.50 to $992.

US Mint Bullion Sales in 2024

The published U.S. Mint bullion sales last changed on Thursday, with gains including 5,000 ounces in American Gold Eagles and 5,000 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)
Tuesday / This Week Last Week January February 2024 Sales
$50 American Eagle 1 Oz Gold Coin 0 3,500 87,500 6,500 94,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 25,000 0 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 46,000 4,000 50,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 115,000 25,000 140,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 46,500 5,500 52,000
$1 American Eagle 1 Oz Silver Coin 0 0 4,900,000 850,000 5,750,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0


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