Gold continued higher for a fourth session Thursday despite gains for the U.S. dollar that kept it at a two-month high. Sales of U.S. Mint bullion coins were also sharply higher.
Gold for December delivery advanced $12.00, or 0.7%, to close at $1,726.00 an ounce on the Comex in New York. The settlement price was nearer the intraday high of $1,730.50 than the low of $1,712.60.
Gains were made, opined analysts, as safe-haven demand for gold increased on worries over EU debt woes coupled with gridlock in Washington that could trigger the fiscal cliff of scheduled tax increases and spending cuts.
"Some fresh safe-haven demand is surfacing this week, amid concerns about the approaching U.S. ‘fiscal cliff’ and about the European Union sovereign debt crisis," said Jim Wyckoff in the PM Kitco Metals Roundup. "The gold market also saw technical chart consolidation Thursday, following active price movements earlier this week.
Silver for December delivery rallied to $32.240 an ounce for a pick-up of 57.9 cents or 1.8%. The precious metal traded between $31.630 and $32.285.
Platinum for January delivery edged up $3.00, or 0.2%, to $1,542.50 an ounce, ranging from $1,534.70 to $1,549.50.
Palladium for December delivery added $4.00, or 0.7%, to $614.35 an ounce, ranging from $604.90 to $615.35.
London Precious Metals
Bullion prices in London were mixed Thursday. In contrasting the most recent London PM fixings:
- Gold inched up $1.75, or 0.1%, to $1,717.00 an ounce,
- Silver declined 44.0 cents, or 1.4%, to $31.70 an ounce,
- Platinum fell $12.00, or 0.8%, to $1,544.00 an ounce, and
- Palladium declined $5.00, or 0.8%, to $612.00 an ounce
U.S. Mint Bullion Coin Sales in November
Orders surged Thursday for American bullion coins. U.S. Mint distributors snapped up 16,000 ounces of gold coins and 173,500 ounces of silver coins.
In the first eight days of November, sales of American Eagle gold coins have reached more than half the amount sold in October. Thursday’s increase also placed sales of the American Eagle silver coins above 30 million for the year — an occurrence that has happened only twice before in the coin’s 26-year history.
The grid below lists the latest daily, November and year-to-date bullion sales figures as provided by the U.S. Mint.
| US Mint American Eagle and Buffalo Bullion Coin Sales | |||
|---|---|---|---|
| Daily Sales | November Sales | YTD 2012 | |
| $50 American Gold Eagle Coin | 11,500 | 30,000 | 494,500 |
| $25 American Gold Eagle Coin | 0 | 0 | 63,000 |
| $10 American Gold Eagle Coin | 2,000 | 2,000 | 68,000 |
| $5 American Gold Eagle Coin | 10,000 | 10,000 | 290,000 |
| $50 American Buffalo Gold Coins | 3,000 | 3,000 | 110,500 |
| American Eagle Silver Coins | 148,000 | 1,198,000 | 30,146,000 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||
|---|---|---|---|
| Daily Sales | November Sales | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 50 | 1,300 | 19,400 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 50 | 1,300 | 19,500 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 0 | 21,800 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 5,000 | 5,000 | 20,000 |
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 2,500 | 15,000 |
| 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 | 5,100 | 10,100 | 250,800 |
Bullion sales above are in the number of coins sold, not the amount of ounces.
Read this coin news article for information about the latest U.S. Mint collector coin sales.
