Gold, Silver Dip for Second Session

by CoinNews.net on January 8, 2015 · 0 comments

Four Gold Ingots, One Silver Bullion Bar

Gold and silver ended lower Thursday while platinum and palladium advanced

Gold and silver prices declined for a second session Thursday after having started the year with three straight daily wins.

Gold for February delivery settled down $2.20, or 0.2%, to $1,208.50 an ounce on the Comex division of the New York Mercantile Exchange.

"There is volatility in the market since on one hand we have people speculating about how much and when the [U.S.] rate hike will come in, and on the other hand, safe-haven demand is rising with the troubles in Europe," Bloomberg News quoted George Gero, a New York-based precious-metals strategist at RBC Capital Markets LLC.

Gold prices ranged from a low of $1,204.20 to a high of $1,214.40. They are still up $22.30, or 1.9%, since ending Friday at $1,186.20 an ounce.

Silver for March delivery declined 16 cents, or 1%, to settle at $16.39 an ounce. The white metal traded between $16.32 and $16.67. Silver also stands higher on the week so far, gaining 62 cents or 3.9% since Friday.

In PGM futures on Thursday:

  • April platinum added $2.10, or 0.2%, to $1,223 an ounce, trading between $1,215.90 and $1,227.90.

  • Palladium for March delivery edged up 65 cents, or less than 0.1%, to $793.10 an ounce, ranging from $786.20 to $797.

London Fix Precious Metals

Earlier fixed London precious metals changed modestly for a second day in a row. In comparing London bullion Fix prices from Wednesday PM to Thursday PM:

  • Gold rose $5, 0.4%, to $1,215.50 an ounce,
  • Silver added 4 cents, or 0.2%, to $16.37 an ounce,
  • Platinum gained $3, or 0.2%, to $1,221 an ounce, and
  • Palladium declined $4, or 0.5%, to $791 an ounce.

US Mint Bullion Coin Sales

U.S. Mint bullion sales were unchanged Thursday as of 3:25 PM ET. On Monday, the bureaus’ first-day sales of its 2015-dated gold coins more than doubled all of December sales. The Mint’s 2015-dated American Silver Eagles go on sale next Monday.

Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold last week, this week, in December, and last year. Coins with an asterisk (*) have sold out for 2014.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Last Week Current Week December Sales 2014 Sales January / 2015 Sales
$100 American Platinum Eagle Bullion Coins* 0 0 0 0 16,900 0
$50 American Eagle Bullion Gold Coins 0 0 26,000 13,000 415,500 26,000
$25 American Eagle Bullion Gold Coins 0 0 13,000 0 46,000 13,000
$10 American Eagle Bullion Gold Coins 0 0 24,000 6,000 118,000 24,000
$5 American Eagle Bullion Gold Coins 0 0 65,000 35,000 565,000 65,000
$50 American Buffalo Bullion Gold Coins 0 0 18,500 4,500 177,500 18,500
$1 American Eagle Silver Bullion Coins* 0 0 0 2.459M 44.006M 0
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins* 0 0 0 0 33,000 0
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 0 1,100 24,400 0
Arches National Park 5 Oz Silver Bullion Coins* 0 0 0 0 22,000 0
Great Sand Dunes 5 Oz Silver Bullion Coins* 0 0 0 4,000 21,900 0
Everglades 5 Oz Silver Bullion Coins* 0 0 0 7,000 34,000 0

 

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