Precious metals advanced on Monday, logging gains ranging from 1.3% for gold to 4.8% for palladium. Silver’s increase was its first in five sessions. Wins for gold and platinum were their second in a row.
Gold for December delivery tacked on $22.30 to settle at $1,806.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 5.
"The key outside markets are fully favoring the precious metals bulls to start the trading week — a weaker U.S. dollar index and sharply higher crude oil prices. The precious metals are also getting a bid early this week on growing ideas the Federal Reserve will not be able to start tightening its monetary policy as soon as many had reckoned just a few weeks ago," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,778 to a high of $1,809.10. They edged up 0.3% last week.
Silver for September delivery jumped 54.4 cents, or 2.4%, to settle at $23.656 an ounce. Silver futures traded between $22.92 and $23.71. They declined 2.8% last week.
In other precious metals prices on Monday:
-
October platinum added $19.90, or 2%, to $1,014.10 an ounce, ranging from $987.80 to $1,018.
- Palladium for September delivery soared $108.60 to $2,385.10 an ounce, trading between $2,260 and $2,429.
Last week platinum fell 3.1% and palladium dropped 14.3%.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales increased on Monday by 740,000 ounces in American Silver Eagles; 4,500 ounces in American Gold Buffalos; and a combined 14,500 ounces in American Gold Eagles.
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 | June | July | August | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 12,000 | 28,000 | 158,000 | 49,500 | 95,500 | 729,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 21,000 | 15,000 | 10,000 | 21,000 | 77,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 6,000 | 0 | 30,000 | 0 | 6,000 | 92,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 10,000 | 10,000 | 90,000 | 40,000 | 50,000 | 330,000 |
| $50 American Buffalo 1 Oz Gold Coin | 4,500 | 2,000 | 27,500 | 14,500 | 23,000 | 231,000 |
| $1 American Eagle 1 Oz Silver Coin | 740,000 | 824,000 | 2,800,000 | 3,104,000 | 3,145,000 | 22,155,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 52,900 |
