Gold Dips for Day Two, Silver Rises, US Coins Gain

by CoinNews.net on December 5, 2012 · 0 comments

Dollar strength was among factors pressuring gold

Dollar strength was among factors pressuring gold

Gold edged lower for a second day of losses Wednesday but silver, platinum and palladium rebounded slightly.

Gold for February delivery dipped $2.00, or 0.1%, to $1,693.80 an ounce on the Comex in New York. The closing price remains the lowest since Nov. 5, first predicated by a loss of $25.30 on Tuesday. A firmer U.S. dollar and continued uncertainty over U.S. fiscal cliff negotiations were among factors analysts cited for losses.

"Gold could remain under pressure until there is more visibility into how the stock market is going to react to the [fiscal] cliff, and if central bank purchases of gold will continue," MarketWatch quoted Richard Hastings, a macro strategist at Global Hunter Securities.

In other New York futures prices Wednesday:

  • March silver gained 15.2 cents, or 0.5%, to $32.96 an ounce. Silver plunged 95.1 cents on Tuesday.

  • Platinum for January delivery closed at $1,584.20 an ounce, edging up $1.30 or 0.1%. The PGM traded between $1,571.00 and $1,597.50.

  • March palladium added $4.75, or 0.7%, to $687.45 an ounce, ranging from $673.25 to $689.80.

Bullion Prices in London

London precious metals were mixed to unchanged. In contrasting the most recent PM fixings:

  • Gold lost $3.75, or 0.2%, to $1,694.00 an ounce,
  • Silver fell 23.0 cents, or 0.7%, to $33.07 an ounce,
  • Platinum was unchanged at $1,587.00 an ounce, and
  • Palladium added $1.00, or 0.2%, to $681.00 an ounce

US Mint Bullion Coin Sales in December

Sales of U.S. Mint bullion coins advanced for a second day Wednesday. Gains were modest for the Mint’s Silver Eagles, up 28,000 compared to the previous day’s pick-up of 700,000. Gold Eagles were stronger, rising 11,500 versus the prior advance of 7,000. Gold Buffalo coins also climbed, up 500 compared to the previous 2,000.

A breakdown of U.S. Mint sales by bullion coin are in the tables below.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Wednesday Sales Last Week Week-To-Date / December Sales YTD 2012
$50 American Eagle Gold Coins 11,500 68,000 18,500 612,500
$25 American Eagle Gold Coins 0 2,000 1,000 69,000
$10 American Eagle Gold Coins 0 0 2,000 72,000
$5 American Eagle Gold Coins 0 5,000 0 315,000
$50 American Buffalo Gold Coins 500 6,500 2,500 126,500
American Silver Eagle Coin 28,000 500,000 728,000 32,835,500

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Wednesday Sales Last Week Week-To-Date / December Sales All-Time Total
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 0 2,000 21,900
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 0 0 20,000
2012 Acadia National Park 5 oz. Silver Bullion Coins 0 3,100 0 25,400
2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins 0 0 0 20,000
2012 Denali National Park 5 oz. Silver Bullion Coins 0 1,400 0 20,000
2011 Olympic National Park 5 oz. Silver Bullion Coins 0 0 0 85,900
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins 0 0 0 39,500
2011 Chickasaw Park 5 oz. Silver Bullion Coins 0 0 0 29,700
TOTAL 0 4,500 2,000 262,400

 

Sales above are in the number of coins sold. Total ounces may be calculated by using the weight of the coin.

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