Precious metals registered gains in starting the trading week on Monday. Increases ranged from 0.2% for silver to 3.6% for palladium.
Gold for August delivery rose $13.90, or 0.8%, to settle at $1,782.90 an ounce on the Comex division of the New York Mercantile Exchange.
"The rally in the U.S. Dollar Index pummeled gold last week, but we think that the dollar rally is now in the rear view mirror," Michael Armbruster, managing partner at Altavest, told MarketWatch.
"If we are right and the dollar weakens this week, that will be a good excuse for gold to bounce," he said. "In the short-run, we are bullish gold."
Gold futures ranged from a low of $1,764.10 to a high of $1,786.90. They declined 5.9% last week, ending Friday at their lowest price since April 30.
Silver for July delivery closed up 5.6 cents to $26.025 an ounce. Silver futures traded between $25.58 and $26.14. They dropped 7.7% last week.
In other precious metals futures prices Monday:
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July platinum moved up $9.60, or 0.9%, to $1,050.60 an ounce, ranging from $1,021.70 to $1,055.70.
- Palladium for September delivery surged $88.40 to $2,558.30 an ounce, trading between $2,468 and $2,588.
Last week platinum fell 9.6% and palladium declined 11.2%.
US Mint Bullion Sales in 2021
The United States Mint published no bullion sales on Monday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Monday | Last Week | March Sales | April Sales | May | June | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 55,500 | 38,500 | 20,500 | 4,000 | 430,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 0 | 31,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 20,000 | 0 | 0 | 0 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 55,000 | 0 | 0 | 0 | 150,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 33,500 | 11,000 | 44,000 | 7,000 | 173,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 4,087,000 | 1,053,000 | 0 | 0 | 13,106,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 35,000 | 0 | 40,000 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | N/A | 50,000 | 2,900 | 0 | 52,900 |
There is a lot of funny business going on with PM price. Everything is going up in price, including mining, refining and transportation of PMs. I have read silver is 1:7 coming out of the ground relative to gold. How in the world isn’t silver well over $100 these days? It is being artificially held low, obviously.