Gold Ends at 21-Week Low, Silver Tumbles, US Silver Eagles Gain


US Money and gold bar

Gold futures ended at a 21-week low in kicking off the new trading week and month on Monday.

Gold for February delivery tumbled $28.50, or 2.3%, to settle at $1,221.90 an ounce on the Comex division of the New York Mercantile Exchange. The closing price was the lowest since July 5. Gold traded from a low of $1,220.60 to a high of $1,251.20.

The yellow metal was pressured, opined analysts, as better-than-expected U.S. manufacturing data propped up the U.S. dollar and lifted expectations that the Fed would slow its monetary stimulus.

"The Fed is getting more and more evidence that it can start slowing the stimulus gas pedal," David Lee, a vice president at Heraeus Precious Metals Management in New York, said in a telephone interview relayed on Bloomberg News. "Manufacturing numbers show that the world recovery is in place."

Last week, gold prices inched up 0.5% for the week but fell 5.5% in November, the biggest monthly drop since June.

Silver for March delivery plunged 74.4 cents, or 3.7%, to end at $19.29 an ounce. Prices ranged from $19.27 to $20.01. Silver prices advanced 0.9% last week but pulled back 8.4% in November.

In PGM futures on Monday:

  • January platinum settled down $22, or 1.6%, to $1,346.80 an ounce, trading between $1,344.40 and $1,369.80.

  • Palladium for March delivery fell $6.25, or 0.9%, to $713.40 an ounce, ranging from $710.20 to $720.

London Fix Precious Metals

London bullion fixings declined Monday after advancing on Friday. When comparing Friday PM to Monday PM London fix prices:

  • Gold lost $23.50, or 1.9%, to $1,229.50 an ounce,
  • Silver slipped 18 cents, or 0.9%, to $19.75 an ounce,
  • Platinum fell $19, or 1.4%, to $1,357 an ounce, and
  • Palladium shed $7, or 1%, to $717 an ounce

Last week, silver was flat and platinum declined 1.4% while gold rose 0.5% and palladium added 0.4%.

US Mint Bullion Sales in December

American Silver Eagles are the first bullion coins from the United States Mint to enter the sales charts for December. The Silver Eagles advanced 239,000 for a new 2013 total of just over 41.7 million. Listed below are sales across all Mint bullion products.

American Eagle and Buffalo Bullion Sales (# of coins)
Monday / Month-To-Date Sales Last Week YTD Sales
$50 American Gold Eagle Bullion Coins 0 13,000 690,000
$25 American Gold Eagle Bullion Coins 0 0 58,000
$10 American Gold Eagle Bullion Coins 0 0 118,000
$5 American Gold Eagle Bullion Coins 0 0 520,000
$50 American Buffalo Gold Bullion Coins 0 6,000 232,000
White Mountain 5 oz. Silver Bullion Coins Sold Out 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 0 0 27,100
Great Basin 5 oz. Silver Bullion Coins 0 0 28,600
Fort McHenry 5 oz. Silver Bullion Coins Sold Out 30,000
Mount Rushmore 5 oz. Silver Bullion Coins Sold Out 35,000
American Silver Eagle Bullion Coins 239,000 800,000 41,714,000


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