Gold and Silver Jump, US Bullion Coins at Monthly Highs

by CoinNews.net on January 10, 2013 · 0 comments

American Silver Eagle and Silver Bullion Bar

Precious metals and US bullion coins rallied Thursday

Gold prices rebounded Thursday as the U.S. dollar retreated and on news that ECB President Mario Draghi expects continued weakness in the euro zone economy this year.

Gold for February delivery rallied $22.50, or 1.4%, to $1,678.00 an ounce on the Comex in New York. Gold traded from an intraday low of $1,653.80 to a high of $1,678.80.

"Draghi made it clear that Europe is still on the weaker side, and they will continue to lean towards accommodative policy," Bill O’Neill, a partner at Logic Advisors in Upper Saddle River, New Jersey, said in a telephone interview according to Bloomberg.

Advancing in three of the last four sessions, March silver surged 66.9 cents, or 2.2%, to settle at $30.918 an ounce. Silver prices ranged from $30.255 to $30.950.

PGMs improved for a second straight day:

  • Platinum for April delivery settled up $34.30, or 2.1%, to $1,634.30 an ounce. It ranged from $1,594.10 to $1,637.70.

  • March palladium closed at $702.20 an ounce, gaining $14.00, or 2.0%. Prices traded between $685.55 and $705.00.

London Bullion Prices

London precious metals fixings were higher as well on Thursday. In contrasting the latest PM Fix prices:

  • Gold rose $17.25, or 1.0%, to $1,675.00 an ounce,
  • Silver edged up 10.0 cents, or 0.3%, to $30.49 an ounce,
  • Platinum rose $28.00, or 1.8%, to $1,621.00 an ounce, and
  • Palladium gained $20.00, or 2.9%, to $701.00 an ounce

Sales of US Mint Bullion Coins

Sales of 2013 American Eagle silver coins jumped 345,000. Released on the 7th, January sales of the coins are at 4,632,000 for the third highest monthly total since they debuted in 1986.

All four sizes of 22-karat American Eagle gold coins gained with total ounces up 12,500. January sales are at 86,500 ounces. The only higher months in the past year were November at 136,500 ounces and January 2012 at 127,000 ounces.

24-karat American Buffalo gold coins rallied 9,500 for a new January total of 36,500, which is the highest monthly amount since March 2011 when sales reached 38,000.

Sales figures for other U.S. Mint bullion products follow.

Sales of US Mint American Eagle and Buffalo Bullion Coins
  Thursday Sales Last Week Week-To-Date Sales 2013 Sales
$50 American Eagle Gold Bullion Coins 10,000 59,500 15,500 68,500
$25 American Eagle Gold Bullion Coins 2,000 9,000 3,000 12,000
$10 American Eagle Gold Bullion Coins 2,000 12,000 4,000 16,000
$5 American Eagle Gold Bullion Coins 10,000 50,000 20,000 70,000
$50 American Buffalo Gold Bullion Coins 9,500 14,500 22,000 36,500
American Eagle Silver Coin* 345,000 N/A 4,632,000 4,632,000

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Thursday 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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