Gold Slips 0.6%, Silver Dips 0.8%, US Coins Jump

by CoinNews.net on November 20, 2012 · 0 comments

2012 Denali National Park Five Ounce Silver Bullion Coin

Bullion five ounce Denali coins jumped by 3,600

Gold on Tuesday returned more than half of the gains from the previous day, as did other precious metals when the U.S. dollar firmed after the release of better-than-expected housing data.

Gold for December delivery lost $10.80, or 0.6%, to close at $1,723.60 an ounce on the Comex in New York. Intraday trading ranged from a low of $1,721.80 to a high of $1,736.00. Gold started the week higher by $19.70 or 1.2%.

"The gold market is reacting to the positive housing data, which turned the dollar positive," Reuters quoted Andrey Kryuchenkov, analyst with VTB Capital.

U.S. housing starts hit a more than four-year high in October, up 3.6% from September, according to the Commerce Department.

"Precious metals erased their gains on technical selling and as better-than-expected U.S. housing data led to a small bounce in the dollar," Marketwatch quoted Fawad Razaqzada, technical analyst at GFT Markets, in a note.

In other New York bullion futures:

  • Silver for December delivery declined 25.9 cents, or 0.8%, to $32.93 an ounce, trading between $32.86 and $33.26. The white metal jumped 82 cents on Monday.

  • Platinum for January delivery settled to $1,573.00 an ounce, falling $10.80 or 0.7%. Platinum moved between $1,569.80 and $1,585.80.

  • Palladium for December delivery dropped $6.95, or 1.1%, to $638.35 an ounce, ranging from $635.45 to $644.00.

London Bullion Prices

Precious metals in London were mostly higher. In contrasting the latest PM Fix prices:

  • Gold edged up $1.75, or 0.1%, to $1,732.25 an ounce,
  • Silver advanced 52.0 cents, or 1.6%, to $33.19 an ounce,
  • Platinum added $5.00, or 0.3%, to $1,577.00 an ounce, and
  • Palladium dipped $2.00, or 0.3%, to $640.00 an ounce

US Bullion Coin Sales in November

Broader and better gains were seen Tuesday for U.S. Mint bullion coins. Every major type of coin advanced. The bureau’s distributors ordered 6,500 ounces of gold bullion coins and 80,000 ounces of silver bullion coins. In America the Beautiful five ounce sales, Denali bullion coins shot higher by 3,600 for 18,000 ounces in total.

The following table lists the newest daily, November and year-to-date bullion sales as published 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 58,000 522,500
$25 American Eagle Gold Coins 0 3,000 66,000
$10 American Eagle Gold Coins 0 4,000 70,000
$5 American Eagle Gold Coins 5,000 25,000 305,000
$50 American Buffalo Gold Coins 1,000 9,000 116,500
American Silver Eagle Coin 62,000 2,359,500 31,307,500

 

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 3,600 6,100 18,600
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 3,600 15,200 255,900

 

Bullion sales above are in the number of coins sold, not the amount of ounces.

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