Gold and Silver Prices Rebound on Safe-Haven Demand

by CoinNews.net on January 27, 2015 · 0 comments

Three silver bullion bars

Gold and silver ended higher for the first time in three sessions

Gold and silver prices closed higher Tuesday for the first time since Thursday as safe-haven demand improved following a selloff in U.S. stocks.

Gold for February delivery bounced $12.30, or 1%, to settle at $1,291.70 an ounce on the Comex division of the New York Mercantile Exchange.

Gold prices ended the U.S. day session solidly higher Tuesday, on more safe-haven demand as the U.S. stock market sold off following some downbeat quarterly earnings reports," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A sharply lower U.S. dollar index on this day was also positive for the precious metals markets."

Gold prices ranged from a low of $1,272 to a high of $1,297.40. They retreated in the previous session by $13.20, or 1%.

Silver for March delivery advanced 10 cents, or 0.5%, to close at $18.08, trading between $17.41 and $18.22. Silver tumbled 32 cents, or 1.7%, in the prior session.

In PGM futures on Tuesday:

  • April platinum added $9.30, or 0.7%, to $1,264.30 an ounce, ranging from $1,248 to $1,271.30.

  • Palladium for March delivery dipped $1.10, or 0.1%, to $780.75 an ounce, trading between $773.20 and $785.

London Fix Precious Metals

Earlier fixed London precious metals advanced. In comparing London bullion Fix prices from Monday PM to Tuesday PM:

  • Gold added $7.25, or 0.6%, to $1,288.50 an ounce,
  • Silver rose 4 cents, or 0.2%, to $17.87 an ounce,
  • Platinum gained $6, or 0.5%, to $1,262 an ounce, and
  • Palladium added $6, or 0.8%, to $778 an ounce.

US Mint Bullion Coin Sales in January

United States Mint bullion sales were unchanged Tuesday as of 3:27 PM ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, in December, last year, and the year to date. Coins with an asterisk (*) have sold out for 2014 with 2015-dated versions yet to be released.

American Eagle and Buffalo Bullion Sales (# of coins)
Tuesday 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 1,000 0 13,000 415,500 50,500
$25 American Eagle Bullion Gold Coins 0 0 0 0 46,000 18,000
$10 American Eagle Bullion Gold Coins 0 2,000 0 6,000 118,000 36,000
$5 American Eagle Bullion Gold Coins 0 10,000 0 35,000 565,000 100,000
$50 American Buffalo Bullion Gold Coins 0 0 0 4,500 177,500 32,500
$1 American Eagle Silver Bullion Coins 0 1.059M 367,000 2.459M 44.006M 5,127,500
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 0 600 0 1,100 24,400 600
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 22,000 0
Everglades 5 Oz Silver Bullion Coins* 0 0 0 7,000 34,000 0

 

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