Gold prices advanced Tuesday, snapping a three-session losing streak that had accumulated to $42.50 in declines.
Gold for February delivery rose $15.90, or 1.0%, to close at $1,662.20 an ounce on the Comex in New York. The yellow metal traded between an intraday low of $1,646.80 and a high of $1,662.70. Bargain-hunting was among reasons analysts cited for gains.
"Last week’s price drop has attracted buyers," Anthem Blanchard, the chief executive officer of Blanchard Vault, a Las Vegas-based online retailer of gold and silver, said in a telephone interview according to Bloomberg. "We are also seeing elevated demand from China."
The Shanghai Gold Exchange reported a sharp increase in physical gold trading on Monday, MarketWatch relays.
Rising for a second day, March silver added 38.3 cents, or 1.3%, to $30.465 an ounce. Silver prices ranged between $30.085 and $30.590.
Prices split in PGMs:
Platinum for April delivery settled at $1,583.20 an ounce, gaining $26.90, or 1.7%. It ranged from $1,553.40 to $1,588.40.
The outlier in precious metals, March palladium declined $2.15, or 0.3%, to $667.85 an ounce. Palladium traded between $664.50 and $679.30.
Precious Metals in London
Mixed as well were London precious metals. In contrasting the latest London PM fixings:
- Gold gained $10.75, or 0.7%, to $1,656.00 an ounce,
- Silver added 25.0 cents, or 0.8%, to $30.39 an ounce,
- Platinum advanced $16.00, or 1.0%, to $1,567.00 an ounce, and
- Palladium declined $2.50, or 0.4%, to $673.00 an ounce
Sales of US Mint Bullion Coins
U.S. Mint distributors ordered one-ounce bullion coins Tuesday. American Eagle gold coins and American Buffalo gold coin respectively advanced 1,500 and 2,000.
Sales grew 350,000 for the new 2013-dated American Eagle silver coins that launched on Monday. January sales stand at 4,287,000 coins, moving up to the fourth all-time highest sales month in the Eagle’s 27-year history.
Sales levels for other U.S. Mint bullion products are below.
|Sales of US Mint American Eagle and Buffalo Bullion Coins|
|Tuesday Sales||Last Week||Week-To-Date Sales||2013 Sales|
|$50 American Eagle Gold Bullion Coins||1,500||59,500||5,500||58,500|
|$25 American Eagle Gold Bullion Coins||0||9,000||1,000||10,000|
|$10 American Eagle Gold Bullion Coins||0||12,000||2,000||14,000|
|$5 American Eagle Gold Bullion Coins||0||50,000||10,000||60,000|
|$50 American Buffalo Gold Bullion Coins||2,000||14,500||12,500||27,000|
|American Eagle Silver Coin*||350,000||N/A||4,287,000||4,287,000|
|America the Beautiful 5 Oz. Silver Bullion Coin Sales|
|Tuesday Sales||Last Week||Week-To-Date Sales||All-Time Sales|
|2012 El Yunque National Forest 5 oz. Silver Bullion Coins||0||0||0||21,900|
|2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins||0||0||0||20,000|
|2012 Acadia National Park 5 oz. Silver Bullion Coins||0||0||0||25,400|
|2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins||0||0||0||20,000|
|2012 Denali National Park 5 oz. Silver Bullion Coins||0||0||0||20,000|
|2011 Olympic National Park 5 oz. Silver Bullion Coins||0||0||5,500||91,400|
|2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins||0||0||1,500||41,000|
|2011 Chickasaw Park 5 oz. Silver Bullion Coins||0||0||1,500||31,200|
Coin sales figures shown above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.