Gold, silver and platinum greeted the new trading month with modest losses totaling 0.2% each. Palladium, on the other hand, bucked the trend by kicking off November with a 0.4% increase.
Gold for December delivery shed $3.60 to close at $1,715.50 an ounce on the Comex in New York. Prices traded from an intraday low of $1,715.10 to a high of $1,727.50. Strength in the U.S. dollar was a cited explanation for gold’s decline.
"The stronger dollar is putting pressure on gold," Phil Streible, a senior commodity broker at R.J. O’Brien & Associates, said in a telephone interview that was relayed on Bloomberg. "The dollar is the winner today."
A higher U.S. dollar generally makes it more expensive for holders of other currencies to purchase commodities like gold.
Silver prices for December delivery lost 6.8 cents to $32.248 an ounce. Prices moved between $32.190 and $32.695.
Platinum for January delivery closed at $1,573.20 an ounce, dipping $3.80. The PGM metal ranged from $1,567.00 to $1,583.70.
Palladium for December advanced $2.65 to $612.45 an ounce. Palladium traded between $603.55 and $617.70.
London Bullion Prices
Precious metals were mixed in London. In contrasting the latest London PM fixings:
- Gold declined $2.75, or 0.2%, to $1,716.25 an ounce,
- Silver added 38.0 cents, or 1.2%, to $32.66 an ounce,
- Platinum advanced $5.00, or 0.3%, to $1,575.00 an ounce, and
- Palladium gained $8.00, or 1.3%, to $614.00 an ounce
U.S. Mint Bullion Coin Sales in November
Sales advanced Thursday for the U.S. Mint’s one ounce American Gold Eagle coin. The 22-karat gold piece rose 3,000. Other U.S. Mint bullion sales levels remained unchanged. The following table provides the most recent sales figures as published by the U.S. Mint.
| Sales of US Mint American Eagle and Buffalo Bullion Coins | |||
|---|---|---|---|
| Daily Sales | November Sales | YTD 2012 | |
| $50 American Gold Eagle Coin | 3,000 | 3,000 | 467,500 |
| $25 American Gold Eagle Coin | 0 | 0 | 63,000 |
| $10 American Gold Eagle Coin | 0 | 0 | 66,000 |
| $5 American Gold Eagle Coin | 0 | 0 | 280,000 |
| $50 American Buffalo Gold Coins | 0 | 0 | 107,500 |
| American Eagle Silver Coins | 0 | 0 | 28,948,000 |
| Sales of America the Beautiful 5 Oz. Silver Bullion Coins | |||
|---|---|---|---|
| Daily Sales | November Sales | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 0 | 0 | 18,100 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 0 | 0 | 18,200 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 0 | 21,800 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 0 | 15,000 |
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 0 | 12,500 |
| 2011 Olympic National Park 5 oz. Silver Bullion Coins | 0 | 0 | 85,900 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 0 | 39,500 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins | 0 | 0 | 29,700 |
| TOTAL | 0 | 0 | 240,700 |
