Gold, Silver Inch Up; US Bullion Coins Gain

by CoinNews.net on February 12, 2013 · 0 comments

Stack of Gold Bullion and Gold Bullion Coins

Gold and silver climbed modestly. Every type of U.S. Mint bullion coin advanced Tuesday.

Gold prices edged higher Tuesday after falling to a five-week low in the prior session.

Gold for April delivery inched up 50.0 cents to settle at $1,649.60 an ounce on the Comex in New York. Trading occurred between intraday levels of $1,639.50 and $1,653.80. The yellow metal gained appeal on weakness in the U.S. dollar.

"Gold had seen some intensified technical selling pressure early this week, but on Tuesday the key outside markets turned bullish for gold and silver (lower U.S. dollar index, firmer crude oil prices), which brought at least a temporary halt to the downside price pressure on the precious metals," noted Jim Wyckoff in the PM Kitco Metals Roundup.

Technical selling on Monday pushed gold down 1.1% as it closed to its lowest price since January 7, 2013.

In other New York bullion futures on Tuesday:

  • Silver for March delivery added 10.9 cents, or 0.4%, to $31.019 an ounce. Silver traded between $30.580 and $31.095.

  • April Platinum jumped $21.02, or 1.2%, to $1,717.12 an ounce, ranging from $1,686.60 to $1,718.40.

  • Sister metal palladium advanced for a second straight day. Palladium for March delivery surged $12.80, or 1.7%, to $771.40 an ounce. It traded between $752.50 and $774.90.

Bullion Prices in London

Precious metals in London were mixed Tuesday with platinum and palladium up and gold and silver down. In contrasting the Monday PM to Tuesday PM Fix prices:

  • Gold shed $4.50, or 0.3%, to $1,647.50 an ounce,
  • Silver fell 32.0 cents, or 1.0%, to $30.84 an ounce,
  • Platinum gained $8.00, or 0.5, to $1,708.00 an ounce, and
  • Palladium soared $16.00, or 2.1%, to $765.00 an ounce

US Bullion Coin Sales in February

Sales advanced Tuesday across every type of U.S. Mint bullion coin. Gains were modest for the most part, and are shown in the second columns in the two tables below.

American Eagle and Buffalo Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date Feb Sales YTD Sales
$50 American Eagle Gold Bullion Coins 1,000 31,000 1,000 32,000 156,500
$25 American Eagle Gold Bullion Coins 0 1,000 0 1,000 18,000
$10 American Eagle Gold Bullion Coins 0 4,000 0 4,000 28,000
$5 American Eagle Gold Bullion Coins 5,000 20,000 5,000 25,000 135,000
$50 American Buffalo Gold Bullion Coins 1,000 1,000 1,000 2,000 74,500
American Eagle Silver Coins 129,500 979,500 459,000 1,438,500 8,936,500

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date Feb Sales All-Time Sales
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 400 100 500 22,400
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 1,000 -400 600 20,600
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 0 104,900
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins 0 200 2,000 2,200 45,700
2011 Chickasaw Park 5 oz. Silver Bullion Coins 2,000 -2,060 2,000 -60 35,600
TOTAL 2,000 -460 3,700 3,240 294,600

 

The Chaco Culture silver coin total moved down 400 on Monday. The Chickasaw silver coin total last Tuesday was adjusted lower by 2,260. The week earlier its sales had trimmed by 40. Such negative adjustments are very atypical in U.S. Mint reported bullion coin sales.

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

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