On Monday, prices for gold, silver and palladium declined, while platinum, on the other hand, edged higher.
Gold for June delivery gave back $4.40, or 0.2%, settling at $1,977.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures traded between $1,970.70 and $1984.80, after falling 1.9% last week.
Meanwhile, silver for July delivery declined 19.9 cents, or 0.8% to close at $23.861 an ounce. Silver futures ranged from $23.76 and $24.09. Silver prices shed 0.4% last week.
“The two markets [gold and silver] are seeing pressure on chart-based selling as their near-term technical postures have deteriorated recently. A higher U.S. dollar index and a rise in U.S. Treasury yields to start the trading week are also bearish for the precious metals,” Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
In other precious metals prices on Monday:
- July platinum edged up by $1.60, or 0.2%, to $1,077.30 an ounce, trading between $1,065.80 and $1,87.90.
- Palladium for June delivery fell by $31.60, or 2.1%, to $1,492.20, ranging from $1,486 to $1,526.
Last week, platinum rose 0.8% while palladium gained 0.7%.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales were unchanged on Monday. 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 | February | March | April | May | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 21,500 | 41,500 | 211,000 | 159,000 | 34,500 | 564,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 8,000 | 1,000 | 8,000 | 0 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 18,000 | 12,000 | 10,000 | 12,000 | 18,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 35,000 | 0 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 9,500 | 19,500 | 73,000 | 61,000 | 32,500 | 245,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 403,000 | 900,000 | 900,000 | 900,000 | 853,000 | 7,502,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 7,500 | 500 | 0 | 8,000 |
