Gold and Silver Continue Higher, US Gold Coins Rise

by CoinNews.net on November 14, 2012 · 0 comments

American Eagle bullion gold coin

Gold, silver and U.S. Mint bullion gold coins advanced

Gold continued higher Wednesday, adding to gains that began a week ago Monday.

Gold for December delivery edged up $5.30, or 0.3%, to settle at $1,730.10 an ounce on the Comex in New York. Intraday prices ranged between $1,720.50 and $1,734.10.

"With central banks continuing to buy gold around the world and with the macroeconomic environment which is still there, the demand should remain very strong," Bloomberg quoted Jamie Sokalsky, chief executive officer of Toronto-based Barrick Gold Corp. (ABX). "We’re not going to see the reaction on the supply side to make up for that in the industry."

Silver tracked gold. Silver for December delivery surged 39.3 cents, or 1.2%, to $32.880 an ounce, trading between $32.365 and $32.930.

In other precious metals futures prices Wednesday:

  • Platinum for January delivery gained $5.20, or 0.3%, to $1,591.60 an ounce, trading between $1,579.20 and $1,603.30.

  • Palladium for December delivery rose $4.95, or 0.8%, to $641.55 an ounce, ranging from $634.25 to $649.90.

London Bullion Prices

London precious metals were mixed Wednesday. In contrasting the latest London PM fixings:

  • Gold was nearly unchanged with its loss of 50.0 cents to $1,725.75 an ounce,
  • Silver lost 10.0 cents, or 0.3%, to $32.48 an ounce,
  • Platinum declined $2.00, or 0.1%, to $1,583.00 an ounce, and
  • Palladium jumped $26.00, or 4.2%, to $643.00 an ounce

US Bullion Coin Sales in November

Sales advanced Wednesday for U.S. Mint bullion coins composed of gold. The bureau sold a total of 6,000 ounces to its distributors. Splits were 5,500 of American Eagle gold coins and 500 ounces of American Buffalo gold coins. Sales of the Gold Eagles in November are just 11,500 ounces shy of matching the 59,000 ounces sold in October.

Listed below are the latest daily, November and year-to-date bullion sales as provided by the U.S. Mint.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Daily Sales November Sales YTD 2012
$50 American Eagle Gold Coins 5,000 44,500 509,000
$25 American Eagle Gold Coins 0 1,000 64,000
$10 American Eagle Gold Coins 0 2,000 68,000
$5 American Eagle Gold Coins 5,000 20,000 300,000
$50 American Buffalo Gold Coins 500 6,500 114,000
American Silver Eagle Coin 0 2,195,500 31,143,500

 

In related American Eagle coin news but on the numismatic front, the U.S. Mint sold out of its 2012-W Proof American Silver Eagle and its 2012-W Uncirculated American Gold Eagle. For more about the Silver Eagle, read this silver coin article. For more about the Gold Eagle, read this coin news article.

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Daily Sales November Sales All-Time Total
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 1,800 19,900
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 1,800 20,000
2012 Acadia National Park 5 oz. Silver Bullion Coins 0 500 22,300
2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins 0 5,000 20,000
2012 Denali National Park 5 oz. Silver Bullion Coins 0 2,500 15,000
2011 Olympic National Park 5 oz. Silver Bullion Coins 0 0 85,900
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins 0 0 39,500
2011 Chickasaw Park 5 oz. Silver Bullion Coins 0 0 29,700
TOTAL 0 11,600 252,300

 

Coin sales listed above are in the number of bullion coins sold, not the amount of ounces.

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