Gold Steady, Silver Dips 3.8 Cents and Palladium Prices Rally


Fine Gold BarsGold futures were nearly unchanged Thursday after spending most of the day lower until the U.S. dollar weakened.

By the day’s end, gold prices added 30.0 cents to $1,728.40 an ounce in the April futures contract on the Comex in New York. The yellow metal moved between an intraday low of $1,706.70 and a high of $1,731.10.

"We are seeing less concern in the Europe and strong U.S. data. Gold will be driven by the dollar and whether Greece will get approved for a bailout package," Reuters quoted Peter Buchanan, senior economist, CIBC World Markets.

Silver prices for March delivery edged down 3.8 cents, or 0.1%, to $33.370 an ounce, trading between $32.640 and of $33.535.

On Wednesday, palladium declined while platinum gained. On Thursday, their positions reversed as palladium prices surged 1.9% and platinum fell 0.7%.

Platinum prices for April delivery declined $12.10 to $1,626.10 an ounce, ranging from $1,604.50 to $1,637.20. Palladium prices for March delivery rallied $12.95 to $696.60 an ounce, trading between $676.40 and $698.80.

London Precious Metals

London precious metals plummeted following previous day gains. When comparing the PM London fixings between Wednesday and Thursday, gold fell $20.00 to $1,713.00 an ounce, silver declined 51.0 cents to $33.18 an ounce, platinum prices lost $26.00 to $1,610.00 an ounce and palladium fell $6.00 to $682.00 an ounce.

U.S. Mint Bullion Coins

Sales levels for U.S. Mint bullion coins were unchanged Thursday as of 3:13 PM ET. 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 14,500 99,000
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 3,500 17,000
American Silver Eagles 0 835,000 6,942,000


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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