Bullion Prices Advance in Fourth Week of Dec, US Gold Sales Up

by Bullion Prices Staff on December 27, 2013

Bullion prices traded up this holiday-shortened week with weekly gains ranging on the low side at 0.9% for gold and on the high side at 3.5% for platinum.

Gold for February delivery on Friday edged up $1.70, or 0.1%, to $1,214 an ounce on the Comex division of the New York Mercantile Exchange. The metal moved through a mostly narrow trading range and in thin volume as investors took time off for Christmas. Prices are poised for a loss of around 3% in December and above 27% for the year.

"As we begin 2014, headwinds will still present themselves with investors being bearish bonds and bullish stocks on raised growth expectations and the continued normalization of interest rates," said Ole Hansen, head of commodity strategy at Saxo Bank.

"December will show a fourth month in a row of negative returns; momentum and trend following investors will not be changing their outlook or positioning unless we see a much stronger move to the upside," Hansen said. "Traders will continue to favor selling into rallies until we see a potential break back above the December high" at $1,268 an ounce.

Other bullion futures prices on Friday follow, as well as their weekly changes.

  • Silver prices for March delivery added 13 cents, or 0.7%, to $20.05 an ounce. They settled up 3.1% on the week.
  • Palladium prices for March delivery added $11.20, or 1.6%, to $711.95 an ounce. They finished up 1.9% on the week.
  • Platinum prices for April delivery added $15.10, or 1.1%, to $1,378.20 an ounce.

New York bullion prices per day and the net changes for the week are listed in the table below.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $19.41 $19.48 N/A $19.92 $20.05 $0.60
3.1%
Gold Prices $1,197.00 $1,203.30 N/A $1,212.30 $1,214.00 $10.30
0.9%
Platinum Prices $1,327.40 $1,336.50 N/A $1,363.80 $1,378.90 $46.70
3.5%
Palladium Prices $695.65 $695.45 N/A $700.75 $711.95 $13.20
1.9%

 

Sales of United States Mint Bullion Coins

US Mint silver bullion coins sold out by mid-December. American Eagle gold coins surged. Here is a summary of weekly and month-to-date bullion totals.

  • American Eagle gold coins rallied by 17,000 ounces compared to last week’s 6,500 ounces. The bullion coins are at 56,000 ounces for the month, which is the highest monthly total since June’s 57,000 ounces.

  • American Buffalo gold coins were flat compared to last week’s 1,500 ounces. The bullion coins are at 7,000 for the month.

  • All 2013 American Eagle silver coins sold out on December 13. December sales are 1.2 million.

  • All 2013 America the Beautiful 5 oz Silver Bullion Coins sold out on December 10. Sales for the month will stay at 4,300 coins.

In the table below are United States Mint bullion sales by day this week and the YTD totals to December 20, 2013.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 13,000 0 0 4,000 0 743,500
1/2 oz American Eagle Gold Bullion Coins 0 0 0 0 0 58,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 0 122,000
1/10 oz American Eagle Gold Bullion Coins 0 0 0 0 0 535,000
1 oz American Gold Buffalo Bullion Coins 0 0 0 0 0 239,000
5 oz America the Beautiful Silver Bullion Coins 0 0 0 0 0 223,100
1 oz American Eagle Silver Bullion Coins 0 0 0 0 0 42,675,000

 

In numismatic news, read about the latest US Mint weekly sales.

Bullion Prices in London

London markets were shuttered around Christmas from Tuesday AM until reopening Friday AM. In the net dollar and percent changes from the AM fix prices on Tuesday to PM fix prices on Friday:

  • Gold at $1,214.50 added $18, or 1.5%.
  • Silver at $19.92 added 52 cent, or 2.7%.
  • Palladium at $711 added $15, or 2.2%.
  • Platinum at $1,374 added $47, or 3.5%.

Below are the London PM Fix prices for each day this week and the percent and net dollar changes since last Friday:

London Bullion Prices (PM)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $19.37 N/A N/A N/A $19.92 $0.59
3.1%
Gold Prices $1,199.00 N/A N/A N/A $1,214.50 $19.25
1.6%
Platinum Prices $1,332.00 N/A N/A N/A $1,374.00 $46.00
3.5%
Palladium Prices $700.00 N/A N/A N/A $711.00 $11.00
1.6%

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