Gold Gives Back Some Gains; US Mint Gold Bullion Coins Soar


Two gold bullion bars

Gold, silver and platinum declined Thursday, giving back a portion of their prior-day gains. Palladium extended its winning streak to three sessions.

Losses in gold were attributed to technical selling, and better-than-expected U.S. economic data which increased expectations that the Fed will begin to dial down its stimulus. Gold for February delivery fell $15.30, or 1.2%, to $1,231.90 an ounce on the Comex division of the New York Mercantile Exchange.

"The drip-drip stories about possible taper is acting like water torture on the gold prices — incessant and corrosive to confidence," MarketWatch quoted Ross Norman, chief executive officer at Sharps Pixley, in emailed comments. "However, if and when done, the impact, we believe, be marginal."

Gold prices on the day traded between $1,216.30 and $1,243.20. The yellow metal in the prior session rallied $26.40, or 2.2%, for its biggest gain since Oct. 17.

Silver for March delivery turned down 26 cents, or 1.3%, to close at $19.57 an ounce. Silver prices ranged from $19.22 to $19.72. In the previous session, silver soared 76.5 cents, or 4%.

In PGM futures on Thursday:

  • Down for the first time since Monday, January platinum shed $12.50, or 0.9%, to $1,363.50 an ounce. It traded between $1,352.90 and $1,369.90.

  • Palladium for March delivery advanced $7.60, or 1%, to $736.85 an ounce, ranging from $722 to $739.

London Fix Precious Metals

Aside from gold, London precious metals fixings logged increases. In contrasting the Wednesday PM to Thursday PM London fix prices:

  • Gold fell $5, or 0.4%, to $1,222.50 an ounce,
  • Silver gained 41 cents, or 2.2%, to $19.46 an ounce,
  • Platinum rose $7, or 0.5%, to $1,364 an ounce, and
  • Palladium added $10, or 1.4%, to $728 an ounce

US Mint Bullion Sales in December

Sales totals for United States Mint bullion products advanced for American Gold Eagles and American Gold Buffalo coins. At 22,000 ounces combined for the week so far, more gold coins have not been sold in a week since the one ended July 5.

an unchanged Wednesday as of 4:08 ET. Listed below are sales across all the bureau’s bullion products.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Last Week Week/Month To Date YTD Sales
$50 American Eagle Gold Bullion Coins 8,000 13,000 19,000 709,000
$25 American Eagle Gold Bullion Coins 0 0 0 58,000
$10 American Eagle Gold Bullion Coins 0 0 0 118,000
$5 American Eagle Gold Bullion Coins 5,000 0 15,000 535,000
$50 American Buffalo Gold Bullion Coins 1,000 6,000 1,500 233,500
White Mountain 5 oz. Silver Bullion Coins Sold Out 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 0 0 0 27,100
Great Basin 5 oz. Silver Bullion Coins 0 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 Eagle Silver Bullion Coins 0 800,000 374,500 41,849,500


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