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|
Sales above are in the number of coins sold. Calculate total ounces by using the weight of the coin.