Gold, Silver Tip Higher; US Bullion Coins Gain

by CoinNews.net on March 5, 2013 · 0 comments

Gold and silver rose slightly Tuesday. US Mint gold and silver bullion coins advanced as well.

Gold and silver rose slightly Tuesday. US Mint gold and silver bullion coins advanced as well.

Gold advanced for a second day in a row Tuesday, supported by weakness in the U.S. dollar but limited by investors’ focus on equities.

Gold futures for April delivery inched up $2.50, or 0.2%, to $1,574.90 an ounce on the Comex in New York. Prices ranged from an intraday low of $1,571.10 an ounce to a high of $1,585.80 an ounce.

"As long as equities keep hitting new highs, investors are not going to look toward gold. The focus is on equities right now and it doesn’t seem to be toward safe havens," Reuters quoted Howard Wen, metals analyst at HSBC.

On Tuesday, the Dow rallied to a new record high and the S&P 500 closed at its highest point since October 2007.

Now logging a third straight session of modest gains, silver for May delivery added 10.8 cents, or 0.4%, to settle at $28.604 an ounce. Silver traded between $28.52 and $29.09.

In PGM futures Tuesday:

  • April platinum tacked on $19.50, or 1.3%, to $1,585.70 an ounce, ranging from $1,568.80 to $1,597.40.

  • Palladium for June delivery shot up $20.15, or 2.8%, to $734.60 an ounce, trading between $716.50 and $739.05.

London Precious Metals

Precious metals in London also advanced. In contrasting the Monday PM to Tuesday PM London Fix prices:

  • Gold edged up $5.50, or 0.3%, to $1,579.75 an ounce,
  • Silver climbed 24.0 cents, or 0.8%, to $28.93 an ounce,
  • Platinum gained $9.00, or 0.6%, to $1,587.00 an ounce, and
  • Palladium added $4.00, or 0.6%, to $728.00 an ounce

US Bullion Coin Sales in March

Excluding five ounce bullion coins, sales advanced Tuesday for every type of United States Mint bullion product. In total, U.S. Mint distributors ordered 4,000 ounces of gold coins and 113,500 ounces of silver coins. The 24-karat Gold Buffalo entered the sales boards for the first time this month. U.S. Mint bullion sales by product follow.

American Eagle and Buffalo Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date March Sales YTD Sales
$50 American Eagle Gold Bullion Coins 2,500 20,000 7,000 11,000 203,500
$25 American Eagle Gold Bullion Coins 0 1,000 1,000 1,000 23,000
$10 American Eagle Gold Bullion Coins 2,000 2,000 4,000 4,000 40,000
$5 American Eagle Gold Bullion Coins 5,000 5,000 5,000 5,000 185,000
$50 American Buffalo Gold Bullion Coins 500 2,500 500 500 84,500
American Silver Eagle Bullion Coins 113,500 822,000 876,500 876,500 11,743,000

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Tuesday 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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