Gold, Silver Rebound; US Bullion Coins Hit Milestones

Gold Bullion, US Money
Gold and silver snapped a string of multiple sessions declines. U.S. Mint bullion coins notched milestones.

Gold advanced for the first time in five sessions Tuesday. Gold futures for February delivery gained $7.90, or 0.5%, to settle at $1,660.80 an ounce on the Comex in New York. The precious metal marked an intraday low of $1,653.50 and a high of $1,665.00.

"Some downbeat U.S. economic data Tuesday pressured the U.S. dollar index and in turn helped to support the metals markets. U.S. consumer confidence declined by more than expected in January, while home prices declined slightly in November," notes Jim Wyckoff in the PM Kitco Metals Roundup.

"The U.S. economic data pace picks up starting Wednesday. The U.S. Federal Reserve’s FOMC meeting and interest rate announcement occurs on Wednesday along with the fourth-quarter advance gross domestic product estimate. The U.S. employment report is out Friday morning. Look for the precious metals market prices to react significantly to the aforementioned reports."

On Monday, gold prices dropped $3.70 to close at a three-week low. The precious metal had given up $40.30, or 2.4%, during its four-day streak of losses

Silver snapped a three-session losing streak that sapped $1.66, or 5.1% in value and had placed prices at a six-week low. Silver for March delivery rallied 40.4 cents, or 1.3%, to $31.184 an ounce. Prices ranged from $30.850 to $31.375.

PGM futures climbed for the day as well:

  • April Platinum added $16.70, or 1.0%, to $1,678.90 an ounce, trading between $1,662.70 and $1,683.50.

  • Palladium for March delivery jumped $9.20, or 1.2%, to $749.75 an ounce, ranging from $734.30 to $750.90.

London Bullion Prices

Bullion prices in London split again Tuesday, though they swapped directionally from the previous day with gold and silver higher and PGM’s lower. In contrasting the Monday PM to Tuesday PM Fix prices:

  • Gold gained $7.00, or 0.4%, to $1,663.50 an ounce,
  • Silver added 19.0 cents, or 0.6%, to $31.06 an ounce,
  • Platinum declined $8.00, or 0.5%, to $1,673.00 an ounce, and
  • Palladium fell $3.00, or 0.4%, to $739.00 an ounce

Sales of US Bullion Coins

Sales advanced sharply for every type of U.S. Mint bullion coin. Three new milestones were hit:

  • The U.S. Mint suspended sales of 2013 American Eagle silver coins on Jan. 17 to rebuild inventories after record demand depleted supplies. Sales resumed Tuesday with dealers ordering 1,413,000. And with that, January 2013 at 7.42 million coins now holds the series all-time monthly sales record. Falling to second place is January 2011 at 6.422 million coins.

  • American Eagle gold coin sales rose 8,000 ounces to 140,000 ounces for January. The month is the strongest since sales of 152,000 ounces in July 2010.

  • American Buffalo gold coins sales added 5,000 to 72,000 for January. That is the highest monthly total since sales of 116,500 in October 2009.

2011-dated America the Beautiful Five Once Silver Bullion Coins also gained Tuesday, up 5,300 coins for 22,000 ounces. The U.S. Mint is selling these older bullion coins at a discount to help move inventory.

The latest daily and year-to-date bullion coin sales figures follow.

American Eagle and Buffalo Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date Sales 2013 Sales
$50 American Eagle Gold Bullion Coins 8,000 3,000 8,000 115,000
$25 American Eagle Gold Bullion Coins 0 2,000 0 17,000
$10 American Eagle Gold Bullion Coins 0 2,000 0 24,000
$5 American Eagle Gold Bullion Coins 0 5,000 0 105,000
$50 American Buffalo Gold Bullion Coins 5,000 27,500 5,000 72,000
American Eagle Silver Coin* 1,413,000 0 1,413,000 7,420,000


America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Tuesday Dales Last Week Week-To-Date Sales All-Time Sales
2012 El Yunque National Forest 5 oz. Silver Bullion Coins   0   21,900
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins   0   20,000
2012 Acadia National Park 5 oz. Silver Bullion Coins   0   25,400
2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins   0   20,000
2012 Denali National Park 5 oz. Silver Bullion Coins   0   20,000
2011 Olympic National Park 5 oz. Silver Bullion Coins 1,000 0 1,000 96,600
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins   0   41,200
2011 Chickasaw Park 5 oz. Silver Bullion Coins 4,300 0 4,300 35,700
TOTAL 5,300 0 5,300 280,800


Coin sales figures shown above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.

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