Bullion Prices Mixed In November, US Mint Bullion Coins Surge

by Bullion Prices Staff on December 1, 2012

U.S. bullion prices closed mixed in November. Gold declined 0.4% as other precious metals climbed — 3% for silver, 12.9% for palladium and 1.8% for platinum.

On Friday, February gold futures fell $16.80, or 1%, to settle at $1,751.40 an ounce on the Comex division of the New York Mercantile Exchange. For the week, gold prices declined 2.2%. The precious metal was pressured much of that time by a stronger U.S. dollar.

“There is a significant amount of industry selling in anticipation of higher taxes related to the fiscal cliff,” said Frank McGhee, head precious metals trader at Integrated Brokerage Services LLC. “On the other hand, there is a fair amount of retail buying, but in this case Wall Street tends to win.”

In other futures bullion prices on Friday:

  • March silver prices ended at $33.28 an ounce, tumbling $1.15 or 3.4%
  • March palladium prices edged up $0.75, or 0.1%, to $688.20 an ounce
  • January platinum prices settled at $1,604.60 an ounce, falling $14.90 or 0.9%

For the week, silver fell 2.5%, palladium surged 3.1% and platinum declined 0.8%.

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

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $34.14 $33.98 $33.68 $34.43 $33.28 -$0.84
-2.5%
Gold Prices $1,749.60 $1,742.30 $1,716.50 $1,729.50 $1,712.70 -$38.70
-2.2%
Platinum Prices $1,611.00 $1,618.50 $1,611.70 $1,619.50 $1,604.60 -$12.50
-0.8%
Palladium Prices $661.20 $668.20 $675.20 $687.45 $688.20 $20.60
3.1%

 

United States Mint Bullion Coins in November

United States Mint bullion coins rallied in November with American Eagles posting higher sales than the previous month and better than the same time a year ago. November sales were:

  • 136,500 ounces of American Eagle gold coins versus 59,000 ounces in October and 41,000 ounces in November 2011. Sales were the highest for a month since July 2010.
  • 16,500 ounces of American Buffalo gold coins compared 11,000 ounces in the previous month and 8,500 ounces in November of last year
  • 3,159,500 American Eagle silver coins against 3,153,000 ounces in October and 1,384,000 in November 2011
  • 19,700 ounces of America the Beautiful 5 oz silver coins versus the 22,100 ounces in the prior month, which was the highest of the year.

Sales by bullion product are listed in the table below in the day, month and year columns.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri November 2012 Sales
1 oz American Eagle Gold Bullion Coins 8,000 0 44,500 10,500 5,000 129,500 594,000
1/2 oz American Eagle Gold Bullion Coins 0 0 0 1,000 1,000 5,000 68,000
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 5,000 0 0 0 0 35,000 315,000
1 oz American Buffalo Gold Bullion Coins 500 0 3,500 1,500 1,000 16,500 124,000
5 oz America the Beautiful Silver Bullion Coins 4,500 0 0 0 0 19,700 116,100
1 oz American Eagle Silver Bullion Coins 400,000 0 0 75,000 25,000 3,159,500 32,107,500

 

Notes: Bullion sales above are in the number of coins sold, not the amount of ounces sold.

In other sources for November coin sales, read articles from:

Bullion Prices in London

Bullion prices in London were mixed Friday and for the week. Below are daily London fixings 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 $34.08 $34.05 $33.85 $33.76 $34.28 $0.87
2.6%
Gold Prices $1,750.50 $1,746.25 $1,708.00 $1,725.00 $1,726.00 -$8.50
-0.5%
Platinum Prices $1,613.00 $1,619.00 $1,589.00 $1,620.00 $1,612.00 $28.00
1.8%
Palladium Prices $667.50 $670.00 $651.00 $682.00 $685.00 $27.50
4.2%

 

For November in London, precious metals rose across-the-board. Advances were 0.4% for gold, 6.2% for silver, 13% for palladium and 2.7% for platinum.

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