Gold Falls for Third Day, Silver Drops 1.1%


Fine Gold BarsGold declined Tuesday for a third straight day as a stronger U.S. dollar curbed the appeal of precious metals.

Gold prices lost $7.20, or 0.4%, to $1,717.70 an ounce in the April futures contract on the Comex in New York. Gold moved from an intraday low of $1,713.80 to a high of $1,729.90.

"We saw gold reacting to the dollar, rallying close to flat this morning, but as the dollar has rallied we’ve seen gold sell off," MarketWatch quoted Tom Essaye, editor of the 7:00’s Report, a daily commentary on equity and commodity markets and the economy.

Silver prices for March delivery fell 37.4 cents, or 1.1%, to $33.348 an ounce, trading between $33.255 and $33.845.

Platinum prices for April delivery declined $21.70, or 1.3%, to $1,628.00 an ounce, moving from $1,624.00 to $1,653.20.

Palladium prices for March delivery ended down $11.30, or 1.6%, to $687.25 an ounce, ranging from $683.10 to $700.50.

London Precious Metals

London precious metals were mixed Tuesday, with gold up $2.00 to $1,722.00 an ounce and the other major metals down. Losses included silver by 33.0 cents to $33.51 an ounce, platinum by $35.00 to $1,628.00 an ounce and palladium by $16.00 to $686.00 an ounce.

U.S. Mint Bullion Coins

U.S. Mint bullion coin sales were unchanged Tuesday, but they did rise later Monday. Previous day gains included 1,500 for the American Gold Eagle; 500 for the American Gold Buffalo; and 25,000 for the American Silver Eagle. The latest U.S. Mint bullion sales figures follow.

Sales of U.S. Mint American Eagle and Buffalo Bullion Coins
  Daily Gains Feb. Gains YTD 2012
American Gold Eagles (1 oz.) 0 9,500 94,000
American Gold Eagles (1/2 oz.) 0 0 49,000
American Gold Eagles (1/4 oz.) 0 2,000 40,000
American Gold Eagles (1/10 oz.) 0 0 85,000
American Gold Buffalo Coin (1 oz.) 0 2,000 15,500
American Silver Eagles 0 735,000 6,842,000


Sales of America the Beautiful 5 Oz. Silver Bullion Coins
  Prior Weekly Weekly Gains All-Time Total
Olympic National Park 5 oz. Silver Coin 0 0 84,600
Vicksburg National Military Park 5 oz. Silver Coin 0 0 37,300
Chickasaw Park 5 oz. Silver Coin 0 0 28,100
TOTAL 0 0 150,000


All bullion coin totals in the above tables are in the number of coins sold, not the amount of ounces. The latest five-ounce sales were provided by the U.S. Mint on Friday, January 27, 2012. The Mint does not publish daily sales figures for its five-ounce silver coins. However, since the last released date is more than two weeks past, there likely has not been new sales to report.

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