Gold and Silver Fall, but Platinum and Palladium Rise

by CoinNews.net on January 9, 2013 · 0 comments

Gold and US Money

A stronger U.S. dollar pressured gold

Gold ended lower Wednesday, logging a loss in four of the last five sessions. Gold for February delivery dipped $6.70, or 0.4%, to $1,655.50 an ounce on the Comex in New York. Prices ranged from $1,651.30 to $1,666.00.

"The precious yellow metal was pressured by a stronger U.S. dollar index and by the present weak near-term technical posture for gold," noted Jim Wyckoff in the PM Kitco Metals Roundup.

"Traders and investors are wondering what the next moves will be by U.S. lawmakers and the Obama administration regarding taxing and spending measures. Most look for a big fight among the politicians, which is keeping a lot of speculative and investment money on the sidelines at present," Wyckoff wrote.

Falling for the first time in three days, March silver lost 21.6 cents, or 0.7%, to $30.249 an ounce. Silver traded from an intraday low of $30.065 to a high of $30.575.

PGM’s turned higher Wednesday:

  • Platinum for April delivery advanced $16.80, or 1.1%, to $1,600.00 an ounce. Platinum prices ranged from $1,578.30 to $1,603.60.

  • March palladium surged $20.35, or 3.1%, to $688.20 an ounce. It traded between $673.10 and $693.50.

London Bullion Prices

Precious metals in London gained. In contrasting the latest PM fixings:

  • Gold added $1.75, or 0.1%, to $1,657.75 an ounce,
  • Silver was unchanged at $30.39 an ounce,
  • Platinum rose $26.00, or 1.7%, to $1,593.00 an ounce, and
  • Palladium ended up $8.00, or 1.2%, to $681.00 an ounce

Sales of US Mint Bullion Coins

Sales levels for U.S. Mint bullion coins remained unchanged Wednesday. The following grid offers the latest bullion sales figures.

Sales of US Mint American Eagle and Buffalo Bullion Coins
  Wednesday Sales Last Week Week-To-Date Sales 2013 Sales
$50 American Eagle Gold Bullion Coins 0 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 0 14,500 12,500 27,000
American Eagle Silver Coin* 0 N/A 4,287,000 4,287,000

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Wednesday 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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