Gold prices settled lower Monday after a last-minute Cyprus deal was said to pressure the metal’s safe-haven appeal.
Gold for April delivery shed $1.60, or 0.1%, to $1,604.50 an ounce on the Comex in New York. The precious metal traded through an intraday range of $1,588.40 and $1,612.80.
Gold had "a whipsaw morning with a big selloff on initial Cyprus deal optimism," but prices pared losses "as the market may assume that the only thing that can save the euro is simply more liquidity, which could be bullish for gold," MarketWatch quoted Jason Rotman, president of Lido Isle Advisors in Newport Beach, Calif.
Gold last week advanced 0.9% for a third straight weekly increase.
In other New York precious metals futures on Monday:
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Silver for May delivery settled up 11.7 cents, or 0.4%, to $28.815 an ounce, ranging from $28.45 to $28.89.
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April platinum added $1.20, or 0.1%, to $1,582.90 an ounce, trading between $1,573.10 and $1,589.40.
- Palladium for June delivery declined $4.20, or 0.6%, to $757.35 an ounce, ranging from $755.55 to $766.00.
These metals last week registered losses totaling 0.5% for silver, 0.7% for platinum and 1.8% for palladium.
London Precious Metals
London precious metals split again Monday. In contrasting the Friday PM to Monday PM London Fix prices:
- Gold declined $8.50, or 0.5%, to $1,599.25 an ounce,
- Silver fell 39.0 cents, or 1.3%, to $28.67 an ounce,
- Platinum dropped $5.00, or 0.3%, to $1,575.00 an ounce, and
- Palladium gained $7.00, or 0.9%, to $761.00 an ounce
Last week in London, silver and gold advanced 0.5% and 0.8%, respectively, but platinum declined 0.8% and palladium plummeted 2.6%.
US Bullion Coin Sales in March
Sales levels were unchanged Monday for United States Mint bullion coins. The latest bullion sales figures follow:
| American Eagle and Buffalo Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Monday Sales | Last Week | Week-To-Date Sales | March Sales | YTD Sales | |
| $50 American Eagle Gold Coins | 0 | 11,000 | 0 | 40,500 | 233,000 |
| $25 American Eagle Gold Coins | 0 | 0 | 0 | 3,000 | 25,000 |
| $10 American Eagle Gold Coins | 0 | 0 | 0 | 6,000 | 42,000 |
| $5 American Eagle Gold Coins | 0 | 0 | 0 | 20,000 | 200,000 |
| $50 American Buffalo Gold Coins | 0 | 3,500 | 0 | 10,000 | 94,000 |
| American Silver Eagle Coins | 0 | 726,500 | 0 | 2,438,000 | 13,304,500 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Monday Sales | Last Week | Weekly Sales | March Sales | All-Time Sales | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | Sold Out | 0 | 24,000 | ||
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 600 | 24,400 | |||
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 25,400 | |||
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 20,000 | |||
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 20,000 | |||
| 2011 Olympic National Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 104,900 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 10,400 | 58,100 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 8,800 | 48,700 |
| TOTAL | 0 | 0 | 0 | 19,800 | 325,500 |
All bullion figures above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.
