Precious metals futures tripped out of gate to start the new trading week on Monday. Losses ranged from 0.3% for gold to 2.4% for platinum.
Gold for June delivery shed $3.40 to close at $1,253.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold has been trending higher so far in 2017, but the rally has met solid resistance at the $1,260 mark, failing to close above that level after multiple tests including in the wake of the Syrian missile strike and soft headline in the March jobs number late last week," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report.
Gold futures traded between a low of $1,248.20 and a high of $1,258.90. They advanced 0.5% last week, for their fourth consecutive weekly gain. So far this year, the precious metal has advanced 8.9%.
Meanwhile, silver for May delivery dropped 23.6 cents, or 1.3%, to settle at $17.915 an ounce. Silver futures ranged from $17.73 to $18.03. Last week, they slipped 0.6% for their first weekly loss in four weeks.
In rounding out precious metals futures trading:
-
July platinum declined $22.60 to $940 an ounce, ranging from $938.40 to $957.50.
- Palladium fell $13.70, or 1.7%, to $790 an ounce, trading between $786.50 and $802.40.
The two metals metals gained last week — 1.1% for platinum and 0.7% for palladium.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Friday PM to Monday PM:
- Gold fell $16.40, or 1.3%, to $1,250.05 an ounce.
- Silver declined 46 cents, or 2.5% to $17.94 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, London metal prices logged increases of 1.7% for gold, 1.9% for silver, 2.9% for platinum and 1% for palladium.
US Mint Bullion Coin Sales in 2017
U.S. Mint bullion sales registered gains of 75,000 ounces in American Silver Eagles and 10,000 ounces in Frederick Douglass 5 Oz Silver Bullion Coins.
Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Monday Sales | Last Week | Mar Sales | April Sales | 2017 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 1,500 | 16,000 | 1,500 | 125,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 0 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 4,000 | 2,000 | 46,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 35,000 | 5,000 | 195,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 1,000 | 8,500 | 1,000 | 56,500 |
| $1 American Eagle 1 Oz Silver Coin | 75,000 | 255,000 | 1,615,000 | 330,000 | 8,287,500 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 2,000 | 9,700 | N/A | 11,700 | 11,700 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 600 | 200 | 600 | 20,300 |
