Gold Adds a Dime, Silver Less Than a Cent; US Coins Gain

by CoinNews.net on March 4, 2013 · 0 comments

Gold Bars (grams)

Gold and silver edge higher Monday. American Eagle coins advanced as well.

Gold rose slightly Monday, snapping a three-session losing streak. Gold futures for April delivery climbed a dime to settle at $1,572.40 an ounce on the Comex in New York.

The level was nearer gold’s intraday low at $1,569.70 an ounce. It reached as high as $1,584.30 an ounce.

This week "the markets will be looking towards the central-bank meetings on Thursday, and of course the [U.S.] employment report on Friday," MarketWatch quoted Jan Skoyles, head of research at The Real Asset Co. "Until we know more on these then I suspect gold will trade sideways."

Gold last week dipped 50 cents and settled Friday at its lowest price since July 18.

Marking a second session of very modest gains and tracking gold on the day, silver for May delivery added less than a cent to close at $28.496 an ounce. The metal ranged between $28.430 and $28.815. Silver prices edged up 3 cents last week.

In PGM futures Monday:

  • April platinum fell $7.30, or 0.5%, to $1,566.20 an ounce, trading between $1,564.00 and $1,585.10.

  • Palladium for June delivery declined $5.95, or 0.8%, to finish at $714.45 an ounce. The precious metal ranged from $713.00 to $726.75.

Last week, platinum lost 2.1% and palladium slipped 2%.

London Precious Metals

Bullion in London mixed it up. In contrasting Friday PM to Monday PM London Fix prices:

  • Gold declined $8.00, or 0.5%, to $1,574.25 an ounce,
  • Silver gained 68.0 cents, or 2.4%, to $28.69 an ounce,
  • Platinum shed $1.00, or 0.1%, to $1,578.00 an ounce, and
  • Palladium added $3.00, or 0.4%, to $724.00 an ounce

Last week in London, gold gained 0.4%, silver fell 2.7%, platinum lost 2% and palladium declined 1.5%.

US Bullion Coin Sales in March

Sales of gold and silver American Eagle bullion coins rose Monday. In total, Gold Eagles climbed 5,500 ounces and Silver Eagles added 763,000. The latter notably crossed 11 million mark for the year. No other United States Mint bullion products advanced on the day. Sales for current U.S. Mint bullion coins follow.

American Eagle and Buffalo Bullion Coin Sales
  Monday Sales Last Week Week-To-Date March Sales YTD Sales
$50 American Eagle Bullion Gold Coins 4,500 20,000 4,500 8,500 201,000
$25 American Eagle Bullion Gold Coins 1,000 1,000 1,000 1,000 23,000
$10 American Eagle Bullion Gold Coins 2,000 2,000 2,000 2,000 38,000
$5 American Eagle Bullion Gold Coins 0 5,000 0 0 180,000
$50 American Buffalo Bullion Gold Coins 0 2,500 0 0 84,000
American Silver Eagle Coins 763,000 822,000 763,000 763,000 11,629,500

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Monday Sales Last Week Week-To-Date March Sales All-Time Sales
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 0 0 0 24,000
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 2,600 0 600 24,400
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 12,400 0 10,400 58,100
2011 Chickasaw Park 5 oz. Silver Bullion Coins 0 9,300 0 8,800 48,700
TOTAL 0 24,300 0 19,800 325,500

 

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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