Gold, Silver and Palladium Prices Dip Slightly, Platinum Falls

by on February 10, 2011 · 0 comments

Fine Gold Bars

U.S. gold, silver and palladium prices edged down Thursday. Gold was hurt by a stronger dollar. Platinum fell hardest of the other precious metals.

April gold prices lost $3.00, or 0.2 percent, to $1,362.50 an ounce on the Comex in New York. Gold ranged from $1,351.40 to $1,366.80.

"I think the market at the moment is in itself lost, to be honest. On one hand, it seems relatively well supported at probably around $1,355 level. On the top side, it’s struggling to get above $1,368," Darren Heathcote, head of trading at Investec Australia, was cited on Reuters. "We still have got the potential for further geopolitical unrest within Egypt."

Silver prices for March delivery declined 18.2 cents, or 0.6 percent, to $30.094 an ounce. Silver ranged from a low of $29.635 to a high of $30.275.

Platinum prices for April delivery fell $28.60, or 1.5 percent, to $1,830.80 an ounce. Prices ranged from $1,825.20 to $1,864.00.

Palladium prices for March delivery ended down $5.55, or 0.7 percent, to $820.90 an ounce. It ranged from a low of $815.50 to a high of $834.10.

In PM London bullion prices, the gold fixing was $1,353.25 an ounce for a loss of $11.75 from the previous PM fixing. The London Silver Fix was $29.80 an ounce, down 42 cents. Platinum fell $27.00 at $1,831.00 an ounce. Palladium declined $13.00 at $822.00 an ounce.

United States Mint authorized purchasers picked up more one-ounce sized bullion coins Thursday. American Gold Eagles advanced 2,500 and American Silver Eagles rose 40,000. The latest United States Mint bullion sales figures follow.

U.S. Mint 2011 Bullion Coin Sales
February 2011 Totals
American Eagle Gold Coin (1 oz) 25,500 156,000
American Eagle Gold Coin (1/2 oz) 0 1,000
American Eagle Gold Coin (1/4 oz) 2,000 4,000
American Eagle Gold Coin (1/10 oz) 5,000 25,000
American Eagle Silver (1 oz) 937,000 7,359,000

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