Bullion Prices Mixed in January, US Mint Bullion Coin Sales Soar

by Bullion Prices Staff on February 1, 2013

Bullion prices mixed it up in January as gold dipped — due to a final day slump, while silver, palladium and platinum marked significant gains. Also, US Mint bullion coins grew to notch large January sales that were either unseen for many dozens of months or, as in the case of American Eagle silver bullion coins sales, a new monthly record.

First, to the results in January for bullion prices… Gold prices lost 0.8% but gaining were silver at 3.7%, palladium at 6.0% and platinum at 8.6%.

A day later, on Friday, the week closed out. In weekly gains, gold climbed 0.9%, silver jumped 2.4%, palladium surged 2.1% but platinum fell 0.4%.

On Friday, April gold futures prices added $8.60, or 0.5%, to finish at $1,670.60 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal has settled up in three of the last four weeks.

"Gold popped higher on the surprisingly bad unemployment number, but the internals of the report and other data quickly muted the gains," MarketWatch cited Brien Lundin, editor of Gold Newsletter.

"Gold is being held hostage to the data flow right now, with bad news for the economy being good for gold, as slow or negative growth will portend continued or more aggressive quantitative easing by the Fed," he said.

The U.S. economy grew 157,000 jobs in January but the unemployment rate advanced 7.9 percent from 7.8 percent, according to data released by the U.S. Labor Department on Friday.

In other bullion prices Friday:

  • March silver futures prices added 60.7 cents, or 1.9%, to $31.96 an ounce.
  • Palladium for March delivery added $10.70, or 1.4%, to $756.40 an ounce, and
  • April platinum added $12.30, or 0.7%, to $1,687.70 an ounce

New York bullion prices on the day and weekly changes follow.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $30.78 $31.18 $32.18 $31.35 $31.96 $0.75
2.4%
Gold Prices $1,652.90 $1,660.80 $1,681.60 $1,662.00 $1,670.60 $14.00
0.9%
Platinum Prices $1,662.20 $1,678.90 $1,689.30 $1,675.40 $1,687.70 -$7.20
-0.4%
Palladium Prices $740.55 $749.75 $751.40 $745.70 $756.40 $15.40
2.1%

 

Sales United States Mint Bullion Coins

As mentioned, US Mint bullion coin sales surged in January. (Read this linked article about January bullion coin sales for a very detailed analysis.) In summary breakdowns:

  • American Eagle silver bullion coin sales for the month soared to a record 7.498 million despite a sales suspension that reduced buying opportunities to about two weeks in the month and the US Mint implementation of rationing when sales returned. The all-time monthly high, significant when considering the series started in 1986, surpassed the previous monthly record that happened in January 2011 at 6.422 million.
  • American Eagle gold bullion coin sales in January amounted to 150,000 ounces. This is the total for all four sizes. The haul was the best since July 2010 and its 152,000 ounces.
  • American Buffalo gold bullion coin sales for the month totaled 72,500, which was the highest since October 2009 and its 116,500 ounces.
  • ATB 5 oz. silver bullion coin sales in January hit 28,960 coins, more than any month in 2012.

No bullion coin gains were reported by the US Mint on Friday to start February. Bullion products from the United States Mint are listed below. Within the columns are sales by day and for the year-to-date.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coin 0 8,000 9,500 0 0 124,500
1/2 oz American Eagle Gold Bullion Coin 0 0 0 0 0 17,000
1/4 oz American Eagle Gold Bullion Coin 0 0 0 0 0 24,000
1/10 oz American Eagle Gold Bullion Coin 0 0 5,000 0 0 110,000
1 oz American Buffalo Gold Bullion Coin 0 5,000 0 500 0 72,500
5 oz America the Beautiful Silver Bullion Coin 0 5,300 8,300 2,260 0 28,960
1 oz American Eagle Silver Bullion Coin 0 1,413,000 0 78,000 0 7,498,000

 

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

Bullion Prices in London — For the Week and January

Precious metals in London moved in the same direction on Friday as they ended up for the week. On the day, silver stepped back 1.9%. Gaining was gold at 0.3%, palladium at 0.8% and platinum at 0.9%. Price breakdowns follower for every day this week and the seven-day percent and net changes.

London Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $30.87 $31.06 $31.35 $32.03 $31.43 -$0.13
-0.4%
Gold Prices $1,656.50 $1,663.50 $1,677.50 $1,664.75 $1,669.00 $9.00
0.5%
Platinum Prices $1,681.00 $1,673.00 $1,668.00 $1,672.00 $1,687.00 $9.0
0.5%
Palladium Prices $742.00 $739.00 $756.00 $739.00 $745.00 $20.00
2.8%

 

London precious metal advances in January were — from high to low — 9.8% for platinum, 6.9% for silver, 5.7% for palladium and less than 0.1% (75 cents) for gold.

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