Gold and silver prices retreated for a second straight day Tuesday as the U.S. dollar rebounded from early weakness.
Gold for December delivery on the Comex in New York settled at $1,742.30 an ounce, falling $7.30 or 0.4%. Prices on the day bracketed a $1,741.20 low and $1,751.90 high.
"Gold and silver markets saw more mild profit taking and downside corrective technical action," noted Jim Wyckoff in the PM Kitco Metals Roundup.
"A firmer U.S. dollar index was also a bearish outside market force working against the precious metals Tuesday."
A higher U.S. dollar generally makes it more expensive for holders of other currencies to purchase commodities like gold.
December silver prices declined 15.6 cents, or 0.5%, to close at $33.981 an ounce. Prices traded between $33.910 and $34.275.
Platinum and palladium bucked the trend of gold and silver. On Tuesday:
Platinum for January delivery settled up $7.50, or 0.5%, to $1,618.50 an ounce, ranging from $1,611.10 to $1,623.00.
Palladium for December delivery surged $7.00, or 1.1%, to $668.20 an ounce, trading between $663.05 and $672.30.
Bullion Prices in London
London bullion prices were mixed Tuesday, moving in the same direction as precious metals futures in New York. In contrasting the most recent PM fixings:
- Gold fell $4.25, or 0.2%, to $1,746.25 an ounce,
- Silver declined 3.0 cents, or less than 0.1%, to $34.05 an ounce,
- Platinum added $6.00, or 0.4%, to $1,619.00 an ounce, and
- Palladium gained $2.50, or 0.4%, to $670.00 an ounce
Sales of US Mint Bullion Coins in November
Sales levels for U.S. Mint bullion products were unchanged Tuesday following robust gains in the previous day. A breakdown of U.S. Mint sales by bullion coin is provided in the tables below.
|US Mint American Eagle and Buffalo Bullion Coin Sales|
|Tuesday Sales||Last Week||Week-To-Date||November Sales||YTD 2012|
|$50 American Eagle Gold Coins||0||10,000||8,000||69,500||534,000|
|$25 American Eagle Gold Coins||0||0||0||3,000||66,000|
|$10 American Eagle Gold Coins||0||0||0||4,000||70,000|
|$5 American Eagle Gold Coins||0||10,000||5,000||35,000||315,000|
|$50 American Buffalo Gold Coins||0||2,000||500||10,500||118,000|
|American Silver Eagle Coin||0||394,000||400,000||3,059,500||32,007,500|
|America the Beautiful 5 Oz. Silver Bullion Coin Sales|
|Tuesday Sales||Last Week||Week-To-Date||November Sales||All-Time Total|
|2012 El Yunque National Forest 5 oz. Silver Bullion Coins||0||0||0||1,800||19,900|
|2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins||0||0||0||1,800||20,000|
|2012 Acadia National Park 5 oz. Silver Bullion Coins||0||0||3,100||3,600||25,400|
|2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins||0||0||0||5,000||20,000|
|2012 Denali National Park 5 oz. Silver Bullion Coins||0||3,600||1,400||7,500||20,000|
|2011 Olympic National Park 5 oz. Silver Bullion Coins||0||0||0||0||85,900|
|2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins||0||0||0||0||39,500|
|2011 Chickasaw Park 5 oz. Silver Bullion Coins||0||0||0||0||29,700|
Bullion sales above are in the number of coins sold, not the amount of ounces.