Bullion Prices Log Weekly Gains, US Gold and Silver Coins Softer

by Bullion Prices Staff on November 24, 2012

Bullion prices rallied Friday, capping strong weekly gains. December gold futures rose $23.20, or 1.3%, to close at $1,751.40 an ounce on the Comex division of the New York Mercantile Exchange. That put gold up $36.70, or 2.1%, for the week. Prices are expected to move higher next week as well, based on forecasts by some analysts.

"Gold, as well other markets, will be watching next week to see whether international lenders strike a deal to give Greece its next payout of bailout money. Traders also will focus on comments out of Washington D.C. about the so-called fiscal cliff and for any clues on future monetary policy from Federal Reserve officials," writes Allen Sykora of Kitco News.

"Participants in the weekly Kitco News gold survey look for further gains next week. Of the 19 respondents, 14 see prices moving up next week, while one sees prices down and four see prices sideways or unchanged."

In other futures bullion prices for Friday:

  • December silver prices settled at $34.12 an ounce, rising 76.7 cents or 2.3%
  • December palladium prices added $16.30, or 2.5%, to close at $667.60 an ounce
  • January platinum prices closed at $1,617.10 an ounce, gaining $33.20 or 2.1%

Robust weekly gains were 5.4% for silver, 6.6% for palladium and 3.5% for platinum.

New York precious metals prices on a daily and weekly basis are listed below.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $33.19 $32.93 $33.35 $33.35 $34.12 $1.75
5.4%
Gold Prices $1,734.40 $1,723.60 $1,728.20 $1,728.20 $1,751.40 $36.70
2.1%
Platinum Prices $1,583.80 $1,573.00 $1,583.90 $1,583.90 $1,617.10 $55.30
3.5%
Palladium Prices $645.30 $638.35 $651.30 $651.30 $667.60 $41.15
6.6%

 

United States Mint Bullion Coin Sales

United States Mint coin sales softened during the Thanksgiving-shortened week. Sales this week versus last week were:

  • 11,000 ounces of American Eagle gold coins compared 18,500 ounces
  • 2,000 ounces of American Buffalo gold coins against 3,000 ounces
  • 394,000 American Eagle silver coins versus 717,500
  • 18,000 ounces of America the Beautiful 5 oz silver coins against 7,500 ounces

American Eagle bullion coins this month added to their improvements over November of last year. American Eagle gold coin sales in November are ahead of last month by 8,000 ounces. American Eagle silver coins in November have 493,500 more to equal sales from October.

Bullion sales are listed in the table below by day, by month and for the year.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri November 2012 Sales
1 oz American Eagle Gold Bullion Coins 1,500 5,000 3,500 0 0 61,500 526,000
1/2 oz American Eagle Gold Bullion Coins 0 0 0 0 0 3,000 66,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 0 4,000 70,000
1/10 oz American Eagle Gold Bullion Coins 0 5,000 5,000 0 0 30,000 310,000
1 oz American Buffalo Gold Bullion Coins 0 1,000 1,000 0 0 10,000 117,500
5 oz America the Beautiful Silver Bullion Coins 0 3,600 0 0 0 15,200 111,600
1 oz American Eagle Silver Bullion Coins 32,000 62,000 225,000 0 75,000 2,659,500 31,607,500

 

Notes: Sales of the bullion coins listed above are in the number of coins sold, not the amount of ounces sold.

In other United States Mint coin news this week, read about the:

Full release details have emerged for the 2012 United States Mint Limited Edition Silver Proof Set. It goes on sale Tuesday, November 27, 2012 for $149.95. Within it are eight coins. Seven of them are composed of 90 percent silver and struck in San Francisco. These are each of the five 2012 America the Beautiful Quarters, a Kennedy 50-cent piece and a dime. The largest silver coin is a one-ounce proof American Silver Eagle that is 99.9 percent pure and minted in West Point.

The other linked article above is information about the individual sell-out of the 2012-W Proof American Silver Eagle, the same coin as the one that is within the 2012 United States Mint Limited Edition Silver Proof Set.

Bullion Prices in London

Bullion prices in London were modestly higher Friday but strongly higher this week. Below are daily London Fix prices during this week and the change in prices from last Friday.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $32.67 $33.19 $33.01 $33.29 $33.41 $1.14
3.5%
Gold Prices $1,730.50 $1,732.25 $1,724.00 $1,731.00 $1,734.50 $21.00
1.2%
Platinum Prices $1,572.00 $1,577.00 $1,572.00 $1,582.00 $1,584.00 $30.00
1.9%
Palladium Prices $642.00 $640.00 $640.00 $657.00 $657.50 $34.50
5.5%

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