Gold dipped Tuesday, snapping a three-session winning streak ahead of the Fed’s monetary policy announcement on Wednesday.
Gold for February delivery lost $4.80, or 0.3%, to close at $1,709.60 an ounce on the Comex in New York. The precious metal traded between $1,706.00 and $1,715.80.
"Investors are exhibiting confidence in the Fed’s commitment to continued stimulus through mortgage and Treasury-bond purchases," MarketWatch quoted James West, portfolio adviser to the Midas Letter Opportunity Fund.
"That and a growing sense that a deal is near on the fiscal-cliff issue are creating exuberance in the markets at gold’s expense."
Silver and palladium traded lower as well, each down 1.1%, but platinum moved up 1.0%. In closing prices Tuesday:
-
March silver settled at $33.017 an ounce, shedding 36.0. Intraday prices ranged from $32.835 to $33.345. Silver halted a four-session winning streak.
-
Platinum for January delivery rose $16.70 to $1,640.00 an ounce, ranging from $1,616.80 to $1,642.20.
-
March palladium declined $7.95 to $696.80 an ounce, trading between $693.00 and $703.00.
London Bullion Prices
Precious metals in London were mixed Tuesday. In contrasting the most recent PM fixings:
- Gold declined $2.50, or 0.2%, to $1,710.00 an ounce,
- Silver fell 17.0 cents, 0.5%, to $33.17 an ounce,
- Platinum advanced $9.00, or 0.6%, to $1,631.00 an ounce, and
- Palladium lost $4.00, or 0.6%, to $695.00 an ounce
US Mint Bullion Coin Sales in December
Sales levels for U.S. Mint bullion coins were unchanged Tuesday. A breakdown of latest sales follows.
| US Mint American Eagle and Buffalo Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Week-To-Date | Dec Sales | YTD 2012 | |
| $50 American Eagle Gold Coins | 0 | 24,500 | 2,500 | 27,000 | 621,000 |
| $25 American Eagle Gold Coins | 0 | 2,000 | 0 | 2,000 | 70,000 |
| $10 American Eagle Gold Coins | 0 | 4,000 | 0 | 4,000 | 74,000 |
| $5 American Eagle Gold Coins | 0 | 0 | 0 | 0 | 315,000 |
| $50 American Buffalo Gold Coins | 0 | 4,000 | 0 | 4,000 | 128,000 |
| American Silver Eagle Coin | 0 | 903,000 | 300,000 | 1,203,000 | 33,310,500 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Week-To-Date | Dec Sales | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 0 | 2,000 | 0 | 2,000 | 21,900 |
| 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 | 0 | 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 | 0 | 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 |
| TOTAL | 0 | 2,000 | 0 | 2,000 | 262,400 |
Sales above are in the number of coins sold. Calculate total ounces by using the weight of the coin.
