Precious metals kicked off the new trading week on Monday with losses, especially sharp ones for silver, platinum, and palladium.
Gold for April delivery gave back $10.50, or 0.5%, to settle at $2,038.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Chart-based selling is featured in a quieter marketplace to start the trading week. The precious metals markets traders are looking for a fresh fundamental spark to drive price action," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
During the day, gold futures traded between $2,034.10 and $2,046.80. They advanced by 1.3% last week.
Falling for the fourth time in five sessions, with the last gain occurring on Friday, March silver dropped by 45.6 cents, or 2%, to end at $22.526 an ounce. Silver futures ranged from $22.46 to $22.98. They fell by 2.1% last week.
In other precious metals prices on Monday:
-
April platinum declined by $28.50, or 3.1%, to $881.10 an ounce, trading between $880.20 and $907.50.
- Palladium for March delivery fell by $31.60, or 3.2%, to $956.90 an ounce, ranging from $944 to $978.
Last week, platinum shed 0.4%, while palladium soared by 3.8%.
US Mint Bullion Sales in 2024
The published U.S. Mint bullion sales last changed on Thursday, Feb. 15, with gains including 5,000 ounces in American Gold Eagles and 5,000 ounces in American Gold Buffalos.
The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Monday | Last Week | January | February | 2024 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 87,500 | 6,500 | 94,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 25,000 | 0 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 46,000 | 4,000 | 50,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 115,000 | 25,000 | 140,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 46,500 | 5,500 | 52,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 4,900,000 | 850,000 | 5,750,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 |
