Gold Retreats, Silver Rises; US Bullion Coins Advance


Shelves of gold bullion bars

Gold turned lower Tuesday, giving back almost half of the prior-day’s gains after U.S. equities and the dollar rebounded.

Gold for April delivery declined $8.70, or 0.7%, to finish at $1,251.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices ranged from a low of $1,246.80 to a high of $1,260.70.

"Gold prices ended the U.S. day session modestly lower Tuesday, pressured by a rebound in the U.S. stock market and a firmer U.S. dollar index," Jim Wyckoff, a senior analyst at Kitco Inc, said a daily note. "Still, the keener investor and trader anxiety in the world market place at present remains a bullish underlying factor for the safe-haven gold market."

Gold prices rallied $20.10, or 1.6%, in the prior session after disappointing manufacturing data pressured the greenback and equities.

Silver bucked the declines seen in other precious metals. Silver for March delivery edged up a penny, or less than 0.1%, to settle at $19.42 an ounce. It ranged from $19.26 to $19.48. Silver prices jumped 29 cents, or 1.5%, in the previous session.

In PGM futures on Tuesday:

  • April platinum lost $13.20, or 1%, to $1,373.40 an ounce, trading between $1,361.40 and $1,387.20.

  • Palladium for March delivery shed $2.60, or 0.4%, to $700.10 an ounce, ranging from $695.50 to $704.55.

London Fix Precious Metals

Earlier fixed London precious metals moved in the same direction as New York bullion futures. In contrasting the London fix prices from Monday PM to Tuesday PM:

  • Gold fell $11.75, or 0.9%, to $1,250.25 an ounce,
  • Silver added 7 cents, or 0.4%, to $19.34 an ounce,
  • Platinum lost $12, or 0.9%, to $1,374 an ounce, and
  • Palladium declined $8, or 1.1%, to $702 an ounce

US Mint Bullion Coin Sales in February

U.S. Mint sales registered another broad day of gains with five of six bullion products advancing. On the day, Gold Eagles added 2,000 ounces, Gold Buffalo coins climbed 2,000 and Silver Eagles rose 234,500.

Below is a sales breakdown across all the bureau’s bullion products.

American Eagle and Buffalo Bullion Sales (# of coins)
Tuesday Sales Week-To-Date Sales Sales Last Week 2014 Sales to Feb. 4
$50 American Eagle Gold Bullion Coins 1,000 2,000 1,000 64,500
$25 American Eagle Gold Bullion Coins 1,000 1,000 0 13,000
$10 American Eagle Gold Bullion Coins 2,000 2,000 0 30,000
$5 American Eagle Gold Bullion Coins 0 10,000 10,000 170,000
$50 American Buffalo Gold Bullion Coins 2,000 5,000 2,000 46,500
American Eagle Silver Bullion Coins 234,500 795,000 741,000 5,570,000


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