Precious metals fell in their start to the new trading week on Monday. The losses ranged from 0.2% for gold to 3.1% for palladium.
Gold for December delivery shed $2.60 to settle at $1,765.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Continued strength in bitcoin, which climbed above the $62,000 level for the first time since April, has been a notable source of pressure on the precious metals," analysts at Zaner wrote in a daily report Monday according to MarketWatch.
Gold futures ranged from a low of $1,760.30 to a high of $1,772.50. They climbed 0.6% last week.
Silver for December delivery lost 8.5 cents, or 0.4%, to close at $23.264 an ounce. Silver futures traded between $23.03 and $23.50. They tacked on 2.8% last week
In other precious metals futures prices Monday:
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January platinum declined $21, or 2%, to $1,037.90 an ounce, ranging from $1,034.80 to $1,062.70.
- Palladium for December delivery dropped $63.50 to $2,013.10 an ounce, trading between $1,970.50 and $2,081.
Last week platinum gained 3% and palladium edged up 0.2%.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales increased Monday by 492,000 ounces in silver coins and a combined 26,500 ounces in gold coins. 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 | August | September | October | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 19,000 | 12,000 | 112,000 | 67,500 | 112,500 | 926,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 2,000 | 0 | 21,000 | 4,000 | 2,000 | 83,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 6,000 | 0 | 34,000 | 8,000 | 10,000 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 10,000 | 5,000 | 50,000 | 35,000 | 35,000 | 400,000 |
| $50 American Buffalo 1 Oz Gold Coin | 4,000 | 20,000 | 27,500 | 24,000 | 36,500 | 296,000 |
| $1 American Eagle 1 Oz Silver Coin | 492,000 | 0 | 3,930,000 | 2,735,000 | 992,000 | 26,667,500 |
| $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 |
