Gold closed at a two-week low Wednesday, pressured by a stronger U.S. dollar and general weakness in commodities.
Gold prices for December delivery declined $12.80, or 0.7%, to settle at $1,753.60 an ounce on the Comex in New York. The settlement price was the lowest since gold closed at $1,733.70 an ounce on September 12. Gold traded between intraday levels of $1,738.30 and $1,768.40.
"Global anxieties surrounding Europe are flaring up, and we are seeing a flight to cash," Adam Klopfenstein, a senior market strategist at Archer Financial Services Inc. in Chicago, said in a telephone interview that was relayed on Bloomberg. "People are in a risk-off mode today."
In other New York bullion prices:
Silver for December delivery was nearly unchanged, dipping eight-tenths of a cent to $33.940 an ounce. The white metal ranged from a low of $33.36 to a high of $34.11.
Platinum for January delivery — the new, most active contract — rose $3.20, or 0.2%, to $1,639.20 an ounce. Platinum traded between $1,616.50 and $1,640.60.
- Palladium for December delivery declined $15.00, or 2.3%, to $625.85 an ounce, ranging from $617.45 to $640.95.
London Bullion Prices
Bullion prices in London were lower Wednesday. In contrasting the most recent London PM Fix prices:
- Gold declined $26.75, or 1.5%, to $1,744.75 an ounce,
- Silver fell 13.0 cents, or 0.4%, to $33.88 an ounce,
- Platinum shed $12.00, or 0.7%, to $1,621.00 an ounce, and
- Palladium lost $17.00, or 2.7%, to $624.00 an ounce
U.S. Mint Bullion Coins
Sales of U.S. Mint bullion coins were unchanged Wednesday as of 4:20 p.m. ET. Below are the latest daily, September and year-to-date bullion sales as published by the U.S. Mint.
|Sales of US Mint American Eagle and Buffalo Bullion Coins|
|Daily Sales||September Sales||YTD 2012|
|$50 American Gold Eagle Bullion Coins||0||56,500||404,000|
|$25 American Gold Eagle Bullion Coins||0||2,000||61,000|
|$10 American Gold Eagle Bullion Coins||0||4,000||62,000|
|$5 American Gold Eagle Bullion Coins||0||30,000||245,000|
|$50 American Gold Buffalo Bullion Coins||0||8,000||96,000|
|American Silver Eagle Bullion Coins||0||3,225,000||25,765,000|
|Sales of America the Beautiful 5 Oz. Silver Bullion Coins|
|Daily Sales||September Sales||All-Time Total|
|2012 El Yunque National Forest 5 oz. Silver Coins||0||1,200||17,900|
|2012 Chaco Culture National Historical Park 5 oz. Silver Coins||0||0||17,000|
|2012 Acadia National Park 5 oz. Silver Coins||0||2,900||18,000|
|2012 Hawai’i Volcanoes 5 oz. Silver Coins||0||10,400||10,400|
|2011 Olympic National Park 5 oz. Silver Coins||0||0||85,900|
|2011 Vicksburg National Military Park 5 oz. Silver Coins||0||0||39,500|
|2011 Chickasaw Park 5 oz. Silver Coins||0||0||29,700|
Sales figures above are in the number of coins sold, not in the amount of ounces sold.