Gold Dips, Bullion Silver Eagles Reclaim Record Pace

Bullion Silver Eagle
U.S. Mint sales of American Silver Eagle bullion coins topped 41 million for the year and are on pace for an annual record

Gold, silver and other precious metals futures edged lower to start the holiday-shortened trading week on Monday after jumping on Friday.

Gold for December delivery settled down $2, or 0.2%, to $1,195.70 an ounce on the Comex division of the New York Mercantile Exchange.

"U.S. stock indexes were firmer to start the trading week and hovering near their recent record or multi-year highs," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The major bull run in equities worldwide is a major negative for the competing asset class raw commodities, including precious metals."

In thinner trading volume that may continue throughout this week with the U.S. Thanksgiving holiday on Thursday, gold prices ranged from a low of $1,192.20 to a high of $1,203.80. Gold climbed 1% last week for a second straight weekly gain.

Elsewhere in the metals market:

  • Silver for December delivery shed 2 cents, or 0.1%, to settle at $16.40 an ounce. The precious metal traded between $16.25 and $16.47. Last week, silver prices rose 0.5%.

  • January platinum declined $19.80, or 1.6%, to $1,207.50 an ounce, ranging from $1,204.20 and $1,230. It bounced 1.2% higher last week.

  • Palladium for December delivery fell $4.80, or 0.6%, to $790.10 an ounce, trading between $786.10 and $799.80. Last week, palladium prices shot ahead 3.1%.

London Fix Precious Metals

London precious metals were mixed. In contrasting London bullion Fix prices from Friday PM to Monday PM:

  • Gold shed $6.25, or 0.5%, to $1,197.50 an ounce,
  • Silver added 3 cents, or 0.2%, to $16.33 an ounce,
  • Platinum fell $8, or 0.7%, to $1,222 an ounce, and
  • Palladium added $1, or 0.1%, to $795 an ounce

Last week, the fixings logged gains of 3% for gold, 6.2% for silver, 4.4% for platinum and 4.5% for palladium.

US Mint Bullion Coin Sales in November

United States Mint bullion sales on Monday included 4,000 ounces in gold coins and 406,500 ounces in silver coins. Gold sales were split between American Gold Eagle and American Gold Buffalo coins. Silver sales were all American Silver Eagles.

With the U.S. Mint still limiting how many are sold because of high demand and low inventory, 2014-dated Silver Eagle just hit 41,217,000 for the year and reclaimed a record pace. Silver Eagle sales in record year 2013 reached 40,675,000 through Nov. 24, 2013. The coins last year ended at 42,675,000 in sales. The U.S. Mint introduced American Silver Eagles in 1986.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Monday, last week, last month, in November and the year to date. Coins with an asterisk (*) have sold out.

American Eagle and Buffalo Bullion Sales (# of coins)
Monday Sales Last Week October Sales November Sales YTD Sales
$100 American Platinum Eagle Bullion Coins* 0 0 400 0 16,700
$50 American Eagle Bullion Gold Coins 3,000 2,500 57,500 44,500 398,000
$25 American Eagle Bullion Gold Coins 0 1,000 6,000 5,000 43,000
$10 American Eagle Bullion Gold Coins 0 2,000 8,000 10,000 110,000
$5 American Eagle Bullion Gold Coins 5,000 0 50,000 35,000 525,000
$50 American Buffalo Bullion Gold Coins 500 3,000 21,000 11,500 172,000
$1 American Eagle Silver Bullion Coins 406,500 1,429,500 5,790,000 3,096,000 41,217,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins* 0 0 0 0 33,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 500 900 900 23,300
Arches National Park 5 Oz Silver Bullion Coins* 0 0 0 0 22,000
Great Sand Dunes 5 Oz Silver Bullion Coins 0 1,100 4,200 1,700 17,900
Everglades 5 Oz Silver Bullion Coins 0 5,000 N/A 27,000 27,000


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gold sales seem pretty strong. smart or dumb I just bought a 1/2oz today.