Gold moved higher in starting the week as weakness in the U.S. dollar added to the appeal of precious metals.
Gold for February delivery added $8.40, or 0.5%, to close at $1,721.10 an ounce on the Comex in New York. Intraday prices traded from $1,714.20 to $1,724.90.
"We’re seeing more of a ‘risk-on’ trade with the Greek debt news and the weaker dollar," Adam Klopfenstein, a senior market strategist at Archer Financial Services Inc. in Chicago, said in a telephone interview relayed on Bloomberg. "It’s also a macro-based rally in commodities on strength in China and Goldman reiterating its bullish views."
Most precious metals fell last week. Gold dipped 2.2%, silver lost 2.5% and platinum declined 0.8%. Palladium was by itself, rising 3.1%.
Returning to Monday, silver performed the best among metals. March silver advanced 48.0 cents, or 1.4%, to settle at $33.759 an ounce. Prices ranged between $33.455 and $33.930.
Platinum for January delivery added $9.20, or 0.6%, to $1,613.80 an ounce, trading between $1,593.50 and $1,615.40.
March palladium rose $3.05, or 0.4%, to $691.25 an ounce, ranging from $680.05 to $692.45.
Bullion Prices in London
London precious metals were lower Monday. In contrasting the most recent PM fixings:
- Gold lost $6.00, or 0.4%, to $1,720.00 an ounce,
- Silver fell 86.0 cents, or 2.5%, to $33.42 an ounce,
- Platinum retreated $13.00, or 0.8%, to $1,599.00 an ounce, and
- Palladium declined $3.00, or 0.4%, to $682.00 an ounce
Gold in London declined 0.5% last week while other metals posted gains of 2.6% for silver, 1.8% for platinum and 4.2% for palladium.
US Mint Bullion Coin Sales in December
U.S. Mint bullion coins are yet to enter the sales board for December. Last week and year-to-date sales are listed below.
|US Mint American Eagle and Buffalo Bullion Coin Sales|
|Monday Sales||Last Week||Week-To-Date||December Sales||YTD 2012|
|$50 American Eagle Gold Coins||0||68,000||0||0||594,000|
|$25 American Eagle Gold Coins||0||2,000||0||0||68,000|
|$10 American Eagle Gold Coins||0||0||0||0||70,000|
|$5 American Eagle Gold Coins||0||5,000||0||0||315,000|
|$50 American Buffalo Gold Coins||0||6,500||0||0||124,000|
|American Silver Eagle Coin||0||500,000||0||0||32,107,500|
|America the Beautiful 5 Oz. Silver Bullion Coin Sales|
|Monday Sales||Last Week||Week-To-Date||December Sales||All-Time Total|
|2012 El Yunque National Forest 5 oz. Silver Bullion Coins||0||0||0||0||19,900|
|2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins||0||0||0||0||20,000|
|2012 Acadia National Park 5 oz. Silver Bullion Coins||0||3,100||0||0||25,400|
|2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins||0||0||0||0||20,000|
|2012 Denali National Park 5 oz. Silver Bullion Coins||0||1,400||0||0||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|
Sales above are in the number of coins sold. Total ounces may be calculated by using the weight of the coin.