Bullion Prices Tumble in November, US Mint Coin Sales Update

by Bullion Prices Staff on November 30, 2013

Bullion prices tumbled in November. In futures, leading declines was silver by 8.4%. Gold and platinum each dropped 5.5% on the month while palladium fell 2.3%.

Gold’s monthly decline was the biggest since June. On Friday, gold for December delivery added $12.50, or 1%, to close at $1,250.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold gained a modest 0.5% on the week.

"It’s that time of the year when people are really reluctant to leave the sidelines. And there has been no catalyst to push prices either way," said a Hong Kong-based precious metals trader, Reuters reports. "From a positioning standpoint, people have already exhausted on the downside. We could possibly end higher for the year from current levels."

On the flip side in shorter term price expectations, more participants in gold surveys from Bloomberg News and Kitco News are bearish than bullish for gold prices next week.

In rounding out the bullion futures complex:

  • Silver prices for March delivery added 35 cents, or 1.8%, to end at $20.03 an ounce.
  • Palladium prices for March delivery added $3.70, or 0.5%, to finish at $719.65 an ounce.
  • Platinum prices for January delivery added $16.10, or 1.2%, to end at 1,368.80 an ounce.

All but platinum advanced on the week. It lost 1%. Advancing were silver by 0.9% and palladium by 0.8%.

New York bullion prices per day and by 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 $19.88 $19.85 $19.68 N/A $20.03 $0.17
0.9%
Gold Prices $1,241.20 $1,241.40 $1,237.90 N/A $1,250.40 $6.30
0.5%
Platinum Prices $1,377.80 $1,371.90 $1,352.70 N/A $1,368.80 -$13.90
-1.0%
Palladium Prices $719.90 $718.45 $715.95 N/A $719.65 $5.60
0.8%

 

Sales of United States Mint Bullion Coins

Demand for United States Mint American Eagle bullion coins increased. Here is a summary of the latest weekly and monthly sales totals across all bullion coins:

  • American Eagle gold coins shot up 13,000 ounces compared to last week’s total of 12,000 ounces. The weekly amount was the best of the month. Sales in November of 48,000 ounces was 500 ounces below October.

  • American Buffalo gold coins surged by 6,000 ounces versus last week’s 2,000 ounces. Sales in November of 14,000 ounces came under the October total by 4,000 ounces.

  • American Eagle silver coins also scored their best week of the month with a pick-up of 800,000. Each of the prior three weeks had increases of 500,000 as the US Mint continues to allocate how many they sell to keep extra silver blanks in reserve for 2014-dated coins. As such, sales in November of 2.3 million coins was the lowest monthly total since December. The coins did hit a new all-time sales record for a year. For more, read this silver coins article.

  • America the Beautiful 5 oz Silver Bullion Coins were muted on the week after last week’s gains of 11,400 coins. Just two of the five 2013-dated bullion silver coins remain with three sold out. Sales in November reached 39,100 coins compared to 6,600 coins in October.

In the table below are US Mint bullion sales by day this week and the YTD totals to November 29, 2013.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 0 8,000 5,000 0 0 690,000
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 0 118,000
1/10 oz American Eagle Gold Bullion Coins 0 0 0 0 0 520,000
1 oz American Gold Buffalo Bullion Coins 0 4,500 1,500 0 0 232,000
5 oz America the Beautiful Bullion Silver Coins 0 0 0 0 0 218,800
1 oz American Eagle Bullion Silver Coins 331,000 107,000 0 0 362,000 41,475,000

 

Bullion Prices in London

London precious metals fix prices rose modestly Friday. In the net dollar and percent changes from the PM fixings on Thursday to Friday:

  • Gold added $7.50, or 0.6%.
  • Silver gained 17 cents, or 0.9%.
  • Palladium rose $7, or 1%.
  • Platinum added $19, or 1.4%.

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 $19.71 $20.11 $19.98 $19.76 $19.93 No Change
Gold Prices $1,243.00 $1,247.50 $1,245.00 $1,245.50 $1,253.00 $6.75
0.5%
Platinum Prices $1,383.00 $1,381.00 $1,377.00 $1,357.00 $1,376.00 -$20.00
-1.4%
Palladium Prices $718.00 $720.00 $725.00 $717.00 $724.00 $3.00
0.4%

 

For November, London precious metals fix prices declined with percentage losses of 5.4% for gold, 10.2% for silver, 2.4% for palladium and 5.1% for platinum.

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