Gold, Silver Prices Fall for Second Day

by CoinNews.net on November 27, 2012 · 0 comments

9999 gold bullion

Precious metals were mixed as gold and silver fell and platinum and palladium climbed

Gold and silver prices retreated for a second straight day Tuesday as the U.S. dollar rebounded from early weakness.

Gold for December delivery on the Comex in New York settled at $1,742.30 an ounce, falling $7.30 or 0.4%. Prices on the day bracketed a $1,741.20 low and $1,751.90 high.

"Gold and silver markets saw more mild profit taking and downside corrective technical action," noted Jim Wyckoff in the PM Kitco Metals Roundup.

"A firmer U.S. dollar index was also a bearish outside market force working against the precious metals Tuesday."

A higher U.S. dollar generally makes it more expensive for holders of other currencies to purchase commodities like gold.

December silver prices declined 15.6 cents, or 0.5%, to close at $33.981 an ounce. Prices traded between $33.910 and $34.275.

Platinum and palladium bucked the trend of gold and silver. On Tuesday:

  • Platinum for January delivery settled up $7.50, or 0.5%, to $1,618.50 an ounce, ranging from $1,611.10 to $1,623.00.

  • Palladium for December delivery surged $7.00, or 1.1%, to $668.20 an ounce, trading between $663.05 and $672.30.

Bullion Prices in London

London bullion prices were mixed Tuesday, moving in the same direction as precious metals futures in New York. In contrasting the most recent PM fixings:

  • Gold fell $4.25, or 0.2%, to $1,746.25 an ounce,
  • Silver declined 3.0 cents, or less than 0.1%, to $34.05 an ounce,
  • Platinum added $6.00, or 0.4%, to $1,619.00 an ounce, and
  • Palladium gained $2.50, or 0.4%, to $670.00 an ounce

Sales of US Mint Bullion Coins in November

Sales levels for U.S. Mint bullion products were unchanged Tuesday following robust gains in the previous day. A breakdown of U.S. Mint sales by bullion coin is provided in the tables below.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date November Sales YTD 2012
$50 American Eagle Gold Coins 0 10,000 8,000 69,500 534,000
$25 American Eagle Gold Coins 0 0 0 3,000 66,000
$10 American Eagle Gold Coins 0 0 0 4,000 70,000
$5 American Eagle Gold Coins 0 10,000 5,000 35,000 315,000
$50 American Buffalo Gold Coins 0 2,000 500 10,500 118,000
American Silver Eagle Coin 0 394,000 400,000 3,059,500 32,007,500

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date November Sales All-Time Total
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 0 0 1,800 19,900
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 0 0 1,800 20,000
2012 Acadia National Park 5 oz. Silver Bullion Coins 0 0 3,100 3,600 25,400
2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins 0 0 0 5,000 20,000
2012 Denali National Park 5 oz. Silver Bullion Coins 0 3,600 1,400 7,500 20,000
2011 Olympic National Park 5 oz. Silver Bullion Coins 0 0 0 0 85,900
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins 0 0 0 0 39,500
2011 Chickasaw Park 5 oz. Silver Bullion Coins 0 0 0 0 29,700
TOTAL 0 3,600 4,500 19,700 260,400

 

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

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