Gold, Silver Climb in Post-Christmas Trade, US Gold Coins Rise

by CoinNews.net on December 26, 2012 · 0 comments

US Dollars and Gold Bars

Gold gained support from a weaker U.S. dollar

Gold, silver and other precious metals advanced in post-Christmas trading Wednesday. Volume was light, as is expected throughout the week with participants away on a holiday break. Markets closed for Christmas and were open for a half-day on Christmas Eve.

Gold for February delivery edged up $1.20, or less than 0.1%, to $1,660.70 an ounce on the Comex in New York. Gold traded between intraday prices of $1,650.60 and $1,668.70.

"You’re seeing gold follow weakness in the dollar mostly, and [the market] feeling a little bit of too much selling that’s happened prior in terms of concerns about the fiscal cliff," MarketWatch quoted Anthem Blanchard, chief executive of Blanchard Vault, a Las Vegas-based online retailer of gold and silver bullion.

Losses in precious metals last week were 2.2% for gold, 6.5% or silver, 2.8% for palladium and 4.8% for platinum.

In other New York precious metals futures on Wednesday:

  • March silver gained 13.8 cents, or 0.5%, to settle at $30.035 an ounce, trading between $29.850 and $30.255.

  • Platinum for January delivery was unchanged at $1,534.90 an ounce, ranging from $1,533.40 to $1,551.40.

  • March palladium advanced $7.85, or 1.2%, to $692.40 an ounce, trading between $684.55 and $692.90.

London Bullion Prices

London markets are closed until Thursday. The contrasting London fixings are from Friday to Monday:

  • Gold gained $11.00, or 0.7%, to $1,662.50 an ounce,
  • Silver advanced 30.0 cents, or 1.0%, to $30.19 an ounce,
  • Platinum gained $10.00, or 0.7%, to $1,543.00 an ounce, and
  • Palladium added $8.00, or 1.2%, to $683.00 an ounce

Bullion declines were across the board last week with losses of 2.6% for gold, 8.1% for silver, 5.0% for platinum and 3.6% for palladium.

US Mint Bullion Coin Sales in December

Sales of U.S. Mint bullion products were limited to the one-ounce American Eagle gold coin. It gained 2,500 with December sales for all sizes now at 69,500 ounces. There are just two better monthly totals this year — the 127,000 ounces in January and the 136,500 ounces in November.

U.S. Mint bullion sales on the day, for the week-to-date, December and year-to-date follow.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Wednesday Sales Last Week Week-To-Date Dec Sales YTD 2012
$50 American Eagle Gold Bullion Coins 2,500 30,500 2,500 65,500 660,500
$25 American Eagle Gold Bullion Coins 0 1,000 0 3,000 71,000
$10 American Eagle Gold Bullion Coins 0 2,000 0 6,000 76,000
$5 American Eagle Gold Bullion Coins 0 0 0 0 315,000
$50 American Buffalo Gold Bullion Coins 0 1,500 0 8,000 132,000
American Eagle Silver Coin* N/A 232,000 N/A 1,635,000 33,742,500

 

*The 2012-dated American Eagle silver coin sold out last week. The U.S. Mint will begin selling the 2013-dated coins on January 7, 2013.

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Wednesday Sales Last Week Week-To-Date Dec Sales All-Time Total
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 0 0 2,000 21,900
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 0 0 0 20,000
2012 Acadia National Park 5 oz. Silver Bullion Coins 0 0 0 0 25,400
2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins 0 0 0 0 20,000
2012 Denali National Park 5 oz. Silver Bullion Coins 0 0 0 0 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 0 0 2,000 262,400

 

Coin sales figures shown above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.

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