Gold Snaps Losing Streak, Silver Advances, US Eagle Coins Gain

by CoinNews.net on January 8, 2013 · 0 comments

layers of gold bars

Gold and silver prices gained Tuesday, as did one-ounce U.S. Mint bullion coins

Gold prices advanced Tuesday, snapping a three-session losing streak that had accumulated to $42.50 in declines.

Gold for February delivery rose $15.90, or 1.0%, to close at $1,662.20 an ounce on the Comex in New York. The yellow metal traded between an intraday low of $1,646.80 and a high of $1,662.70. Bargain-hunting was among reasons analysts cited for gains.

"Last week’s price drop has attracted buyers," Anthem Blanchard, the chief executive officer of Blanchard Vault, a Las Vegas-based online retailer of gold and silver, said in a telephone interview according to Bloomberg. "We are also seeing elevated demand from China."

The Shanghai Gold Exchange reported a sharp increase in physical gold trading on Monday, MarketWatch relays.

Rising for a second day, March silver added 38.3 cents, or 1.3%, to $30.465 an ounce. Silver prices ranged between $30.085 and $30.590.

Prices split in PGMs:

  • Platinum for April delivery settled at $1,583.20 an ounce, gaining $26.90, or 1.7%. It ranged from $1,553.40 to $1,588.40.

  • The outlier in precious metals, March palladium declined $2.15, or 0.3%, to $667.85 an ounce. Palladium traded between $664.50 and $679.30.

Precious Metals in London

Mixed as well were London precious metals. In contrasting the latest London PM fixings:

  • Gold gained $10.75, or 0.7%, to $1,656.00 an ounce,
  • Silver added 25.0 cents, or 0.8%, to $30.39 an ounce,
  • Platinum advanced $16.00, or 1.0%, to $1,567.00 an ounce, and
  • Palladium declined $2.50, or 0.4%, to $673.00 an ounce

Sales of US Mint Bullion Coins

U.S. Mint distributors ordered one-ounce bullion coins Tuesday. American Eagle gold coins and American Buffalo gold coin respectively advanced 1,500 and 2,000.

Sales grew 350,000 for the new 2013-dated American Eagle silver coins that launched on Monday. January sales stand at 4,287,000 coins, moving up to the fourth all-time highest sales month in the Eagle’s 27-year history.

Sales levels for other U.S. Mint bullion products are below.

Sales of US Mint American Eagle and Buffalo Bullion Coins
  Tuesday Sales Last Week Week-To-Date Sales 2013 Sales
$50 American Eagle Gold Bullion Coins 1,500 59,500 5,500 58,500
$25 American Eagle Gold Bullion Coins 0 9,000 1,000 10,000
$10 American Eagle Gold Bullion Coins 0 12,000 2,000 14,000
$5 American Eagle Gold Bullion Coins 0 50,000 10,000 60,000
$50 American Buffalo Gold Bullion Coins 2,000 14,500 12,500 27,000
American Eagle Silver Coin* 350,000 N/A 4,287,000 4,287,000

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date 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 5,500 91,400
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins 0 0 1,500 41,000
2011 Chickasaw Park 5 oz. Silver Bullion Coins 0 0 1,500 31,200
TOTAL 0 0 8,500 270,900

 

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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