Gold Retreats but Stays Atop $1,200; US Mint Gold Coins Rise

by CoinNews.net on December 4, 2014 · 0 comments

Gold bullion and gold bullion coins

Gold declined slightly Thursday. United States Mint gold coins advanced by 1,500 ounces.

Gold continued its back and forth daily shifts on Thursday, falling slightly after advancing in the prior session yet hanging firmly above $1,200 an ounce.

Gold for February delivery shed a dollar, or less than 0.1%, to close at $1,207.70 an ounce on the Comex division of the New York Mercantile Exchange.

"The market is extremely nervous. A lack of direction is keeping everyone on their toes (with) Monday still very fresh in everyone’s minds," Reuters quoted Afshin Nabavi, head of trading at MKS in Switzerland.

Gold prices ranged from a low of $1,201.10 to a high of $1,213.50. On Wednesday, they advanced $9.30. Prices on Tuesday tumbled $18.70 after soaring $42.60 on Monday.

Snapping a two-session losing streak, silver for March delivery tacked on 16 cents, or 1%, to $16.58 an ounce. Prices ranged from $16.38 to $16.68. On Wednesday, silver shed 0.3%.

In PGM futures on Thursday:

  • January platinum advanced $18.40, or 1.5%, to $1,245.90 an ounce, trading between $1,223.20 and $1,246.40.

  • Palladium for March delivery rose $4.60, or 0.6%, to $802.15 an ounce, ranging from $795.80 to $807.60.

London Fix Precious Metals

Earlier fixed London precious metals were mixed. In contrasting London bullion Fix prices from Wednesday PM to Thursday PM:

  • Gold rose $4.25, or 0.4%, to $1,209 an ounce,
  • Silver gained 12 cents, or 0.7%, to $16.42 an ounce,
  • Platinum jumped $16, or 1.3%, to $1,239 an ounce, and
  • Palladium declined $6, or 0.7%, to $798 an ounce

US Mint Bullion Coin Sales in December

United States Mint bullion sales included 1,500 ounces in gold coins — 500 in Gold Eagles and 1,000 in Gold Buffalos. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Thursday, last week, this week, last month, and the year to date. Coins with an asterisk (*) have sold out.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Last Week Current Week / Month November Sales YTD Sales
$100 American Platinum Eagle Bullion Coins* 0 0 0 0 16,700
$50 American Eagle Bullion Gold Coins 0 7,500 12,000 49,000 414,500
$25 American Eagle Bullion Gold Coins 0 3,000 0 8,000 46,000
$10 American Eagle Bullion Gold Coins 0 2,000 4,000 12,000 116,000
$5 American Eagle Bullion Gold Coins 5,000 10,000 20,000 40,000 550,000
$50 American Buffalo Bullion Gold Coins 1,000 1,500 1,500 12,500 174,500
$1 American Eagle Silver Bullion Coins 0 736,500 662,500 3,426,000 42,209,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins* 0 0 0 0 33,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 300 900 23,600
Arches National Park 5 Oz Silver Bullion Coins* 0 0 0 0 22,000
Great Sand Dunes 5 Oz Silver Bullion Coins 0 0 1,200 1,700 19,100
Everglades 5 Oz Silver Bullion Coins 0 0 7,000 27,000 34,000

 

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