Gold and Silver Fall, US Gold Bullion Coins Rise

by CoinNews.net on January 3, 2013 · 0 comments

US Money and Gold

Gold fell on strength in the U.S. dollar

Gold and silver prices fell Thursday, snapping a two-session winning streak.

Gold for February delivery declined $14.20, or 0.8%, to settle at $1,674.60 an ounce on the Comex in New York. Gold prices ranged from an intraday low of $1,662.70 to a high of $1,690.50.

Gold saw pressure, opined analysts, from strength in the U.S. dollar. Prices fell further in after-hours trading as minutes from the last FOMC meeting revealed some members were weighing whether to wrap up QE measures before the end of 2013.

"With the news that some policymakers suggested that the Fed could withdraw QE before the end of year, that put a dent on one of the underpinnings on gold, which is expansionary monetary policy," Reuters quoted Mark Luschini, chief investment strategist of Janney Montgomery Scott.

Silver and palladium tracked gold. March silver lost 28.7 cents, or 0.9%, to close at $30.720 an ounce. The white metal traded between $30.360 and $31.225. March palladium fell $10.80, or 1.5%, to $697.15 an ounce, trading between $691.00 and $708.00.

The outlier in precious metals was platinum with April futures rising $11.90, or 0.8%, to $1,579.90 an ounce. Platinum ranged from $1,563.00 to $1,582.50.

London Bullion

London bullion prices were mixed. In contrasting the latest PM fixings:

  • Gold fell $14.25, or 0.8%, to $1,679.50 an ounce,
  • Silver edged up 4.0 cents, or 0.1%, to $30.91 an ounce,
  • Platinum added $6.00, or 0.4%, to $1,572.00 an ounce, and
  • Palladium lost $14.00, or 2.0%, to $697.00 an ounce

US Mint Bullion Coin Sales

U.S. Mint sales advanced for three of the four sizes of American Eagle gold bullion coins. U.S. Mint distributors ordered 7,000 ounces in total. Sales also climbed 5,000 for the American Buffalo gold bullion coins.

U.S. Mint bullion sales on the day, the week-to-date and for 2013 follow.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Thursday Sales Last Week Week-To-Date 2013 Sales
$50 American Eagle Gold Coins 4,500 2,500 51,000 44,500
$25 American Eagle Gold Coins 4,000 0 9,000 9,000
$10 American Eagle Gold Coins 2,000 0 12,000 12,000
$5 American Eagle Gold Coins 0 0 50,000 50,000
$50 American Buffalo Gold Coins 5,000 0 13,000 13,000
American Eagle Silver Coin* N/A* 0

 

*2012-dated American Eagle silver coins sold out on Dec. 17, 2012. New 2013-dated Silver Eagles go on sale Jan. 7, 2013.

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Thursday Sales Last Week Week-To-Date / Jan Sales All-Time Sales
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 0 0 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 0 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 0 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 0 0 262,400

 

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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