US gold finished lower Tuesday as the dollar gained on the euro and investors preferred investments that were less risky. Prices closed down 0.2%, marking a more than one week low. Platinum fell by the same percentage. Silver, however, registered a modest 0.4% gain.

In New York precious metal prices, April gold lost $1.70 to $1,122.30 an ounce. The yellow metal ranged from $1,108.20 to $1,125.10. May silver ended up 6.6 cents to $17.338 an ounce. April platinum declined $3.20 to finish at $1,596.90 an ounce.

"It’s all about the dollar," Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois, said on Bloomberg. "With the dollar continuing to strengthen, gold doesn’t have a chance. There isn’t enough gold for China to make it its primary reserve. They have to hold dollars."

In PM London bullion prices, gold was fixed to $1,115.75 an ounce for a loss of $10.00. Silver retreated 28 cents to $17.050 an ounce. Platinum came in at $1,574.00 an ounce for a decline of $29.00.

"Gold needs a quick rebound towards the $1140.00 per ounce area, but now, maintenance of the low $1100’s or that figure itself become the focus of the day for gold players at this juncture as the heavy dose of thinly warranted bullishness that was recently on display appears to be fading due to external factors," wrote Jon Nadler, senior analyst at Kitco Metals, Inc.

"Extreme bullishness was dealt an unappetizing dish or crow overnight, as China’s head of the State Administration of Foreign Exchange made comments about his country’s reserves, gold, and related issues… The country does not intent to ‘dump’ dollars from its massive holdings — certainly not in favour of a massive amount of bullion."

New York crude oil for April delivery lost 38 cents, or 0.5%, to $81.49 a barrel. Gold, considered a hedge during times of high inflation and economic uncertainty, tends to follow oil and move opposite to the U.S. dollar. A rising greenback makes dollar-denominated commodities, like bullion, more expensive for holders of other world currencies.

Precious metals marked gains during much of the first week of March. Silver was the biggest winner, soaring 5.2% in New York and 7.0% in London. Greece debt issues were back on the burner again, yanking the euro and dollar around. The resulting currency movements proved to be beneficial to gold, as the yellow metal hit highs not seen since mid January.

For New York metals weekly prices, gold for April delivery advanced $16.30, or 1.5%, to end Friday at $1,135.20 an ounce. May silver surged 86 cents to $17.382 an ounce. Platinum for April delivery finished higher by $39.20, or 2.5%, to $1,579.10 an ounce.

For London bullion weekly prices, gold was fixed Friday at $1,135.00 an ounce, which was an increase of $26.75, or 2.4%, on the week. Silver soared $1.13, or 7.0%, to $17.25 an ounce. Platinum ended at $1,578.00 an ounce for a $45.00, or 2.9%

"Investors want to hold a currency that’s going to maintain its value," Frank Lesh, a trader at FuturePath Trading LLC in Chicago, said on Bloomberg. "Gold is a part of the currency crosses now. The international currency is gold."

"The shift in sovereign risk away from Greece on Friday has helped support gold, and risk appetite is higher because of the better-than-expected job number," James Steel, chief commodities analyst at HSBC, said on Reuters.

"Owing to concerns over the fiscal deficit of several European countries, gold is likely to remain in high demand as a safe haven," analysts at Commerzbank said in a note cited on MarketWatch.

New York crude-oil for April delivery jumped $1.29, or 1.6%, to close to $81.50 a barrel. Gold, considered a hedge during times of high inflation and economic uncertainty, tends to follow oil and move opposite to the U.S. dollar — that did not always happen this week.

To follow are silver, gold and platinum performance charts, and recent bullion coin news article summaries.

London Fix Weekly Bullion Prices

US Mint Gold and Silver Coin Weekly News

In related bullion, business and United States Mint news, interesting or quick-read articles from the week include:

• US Mint Ships 84,000 Gold Eagles in February
  The latest United States Mint bullion coin sales figures have been released and the stats show authorized buyers purchased 84,000 American Eagle Gold coins during February 2010, which was 1,000 less than the prior month. Atypical from other years is that the tally includes both 2009 and 2010-dated coins. This year was the first time in the U.S. Mint’s history of selling the gold coins that a current year’s eagles were not offered during the first week of January. Exceptional demand for the eagles in 2009 resulted in a delayed release of 2010s …

• US Disabled Veterans Silver Coins Jump
  American Eagle bullion coins improved greatly. The Silver Eagles had not moved for a full seven days in the last report. The pace picked up and they have since advanced another 1.25 million. Year-to-date sales for the one-ounce coins are at 6,067,500. Gold Eagles stood out as well. They nearly doubled the prior weekly increase. Numbers increased by 30,000 to 181,000 for the year …

US gold fell from a six-week high on Thursday as the dollar gained ground against other world currencies, and by as much as 1.1% against the euro. Gold generally losses its appeal with a rallying greenback. Precious metals were mixed on the day, however, with gold and silver both declining 0.9% while platinum eked out a slight 10 cent gain.

In New York precious metal prices, April gold fell $10.20 to $1,133.10 an ounce. The yellow metal ranged from $1,125.90 to $1,142.30. May silver declined 15.3 cents to end at $17.176 an ounce. April platinum edged higher to $1,583.60 an ounce.

"The dollar is only going to get stronger and stronger," Leonard Kaplan, the president of Prospector Asset Management in Evanston, Illinois, said on Bloomberg. "Everybody is beginning to realize that the ECB is cooked because the Greek problem is not going to go away. Investors will go back to the dollar, and gold goes lower."

In PM London bullion prices, gold was fixed to $1,134.50 an ounce, declining $2.00. Silver advanced 17 cents to $17.340 an ounce. Platinum was settled at $1,579.00 an ounce, or $1.00 lower.

"The metal still has to overcome resistance around $1,146 and $1,162 and is still vulnerable to E.U. – and euro- elated pressure, particularly as the threat of a ratings downgrade for Greece remains," analysts at TheBullionDesk.com were cited on MarketWatch.

Gold, considered a hedge during times of high inflation and economic uncertainty, tends to follow oil and move opposite to the U.S. dollar. (New York crude oil for April delivery declined 66 cents to $80.21 a barrel.) A rising greenback makes dollar-denominated commodities, like bullion, more expensive for holders of other world currencies.

US gold climbed to reach a high not seen since January 15. The metal benefited from a rising euro which pressured the dollar. When the greenback declines, gold typically rises as a result. News of Greece deficit cutting plans sparked the euro, according to reports.

In New York precious metal prices, April gold advanced $5.90, or 0.5%, to close at $1,143.30 an ounce, ranging from $1,132.80 to $1,145.80. May silver climbed 26.5 cents, or 1.6%, to end at $17.329 an ounce. It ranged from $16.885 to $17.370.April platinum ended up $7.50, or 0.5%, to $1,583.50 an ounce.

"Gold is going to become the currency of choice as people lose faith in fiat currencies, Matt Zeman, a trader at LaSalle Futures Group in Chicago, said on Bloomberg. "These countries continue to write checks that they can’t cash."

In PM London bullion prices, gold was fixed to $1,136.50 an ounce for a gain of $10.00. Silver climbed 60 cents to $17.170 an ounce. Platinum settled at $1,580.00 an ounce for an increase of $18.00.

"News that Greece has come up with an additional, near-5 billion euro large austerity plan lifted the euro this morning, while contributing to additional declines in the US dollar," wrote Jon Nadler, senior analyst at Kitco Metals, Inc.

"Conditions all converged to lift risk appetite and push the greenback to under the 80-mark on the trade weighted index this morning. At the same time, the euro and precious metals (not to mention oil) enjoyed another day in the sun."

New York crude oil for April delivery rose $1.19, or 1.5%, to $80.87 a barrel. Gold normally moves in the same direction as oil, but opposite of the dollar. A rising greenback makes dollar-denominated commodities more expensive for holders of other world currencies.

US gold, silver and platinum prices rose sharply in New York on Tuesday. Gold reached a high it had not seen since January 20. The dollar pared earlier gains as the euro strengthened, and that was cited as a major factor in gold’s climb. The yellow metal usually moves in the opposite direction of the greenback.

In New York precious metal prices, April gold advanced $19.10, or 1.7%, to $1,137.40 an ounce. It ranged from $1,115.00 to $1,138.30. May silver surged 59.5 cents, or 3.6%. to end at $17.064 an ounce. April platinum climbed $32.00, or 2.1%, to $1,576.00 an ounce.

"Gold is holding up well in a strong-dollar environment, supported by sovereign-debt worries," analysts including Filip Petersson at Swedish bank SEB AB’s commodity unit said in a report cited on Bloomberg. "Continued high liquidity, low interest rates, sovereign-debt and exit-strategy uncertainties as well as longer-term dollar skepticism are all likely to fuel demand and limit downside risk for gold prices."

In PM London bullion, the benchmark gold price was fixed earlier in the North American day to $1,126.50 an ounce, rising $12.50 from the price on Monday. Silver advanced 7 cents to $16.570 an ounce. Platinum was settled at $1,562.00 an ounce, rising $14.00.

"In the absence of fresh fundamental news flow, prices continue to take their cue from currency movements and global macro developments," analysts at Barclays Capital were quoted on MarketWatch.

In related bullion coin news involving the United States Mint and newly released coin figures, sales in February reached 84K for Gold Eagles. The total makes last month the fifth best February ever for the gold series. Additionally, silver bullion sales were finalized for last year. US mint buyers scooped up more than 30 million 2009 Silver Eagles.

US gold prices shifted slightly slower during the final week in February, but the month proved to be the first time the yellow metal marked an overall advance since back in November. Other metals finished with positive monthly gains as well, with the exception of silver which declined slightly in London.

For London bullion in February, gold and platinum were fixed higher by 2.8% and 1.4%, respectively. Silver retreated 1.0%. Gold finished the month at $1,108.25 an ounce, dropping $4.50, or 0.4% during the final week. Silver ended at $16.12 an ounce, for a weekly increase of 17 cents, or 1.1%. Platinum was at $1,533.00 an ounce, for a $20.00 or 1.3% increase.

For New York bullion February price, gold jumped 3.2%, silver advanced 2.0% and platinum climbed 2.3%. April gold closed to $1,118.90 for a weekly loss of $3.20, or 0.3%. May silver finished at $16.521 an ounce, rising 10.8 cents, or 0.7% on the week. April platinum ended at $1,539.90, declining $3.70 or 0.2%.

"You’ve got to look to play gold on the long side," Matt Zeman, a metals trader at LaSalle Futures Group in Chicago, said on Bloomberg. "Fiat currencies continue to lose credibility. Even if Greece gets rescued, there will be another country in line with their hands out. People are flocking to gold to shield themselves from the volatility in the currency markets."

"The metal is likely to continue to track the euro and broad risk sentiment in the coming sessions; however, dips are expected to draw further strong support from both jewelry and investment players and should provide a floor," analysts at TheBullionDesk.com were cited on MarketWatch.

Oil rose sharply in February, jumping 9.3% to end the month at $79.66 a barrel. Gold, considered a hedge during times of high inflation and economic uncertainty, tends to follow oil and move opposite to the U.S. dollar. A rising greenback makes dollar-denominated commodities, like bullion, more expensive for holders of other world currencies.

To follow are silver, gold and platinum performance charts, and recent bullion coin news article summaries.

London Fix Weekly Bullion Prices

US Mint Gold and Silver Coin Weekly News

In related bullion, business and United States Mint news, interesting or quick-read articles from the week include:

• 2010 Gold Eagle Coin Values
  he price of gold is affecting demand, and seller inventory levels. The yellow metal premiered at just above $1,120 to start 2010. Prices rose to over $1,150 within the first week, but then retreated toward $1,058 by early February. Gold has since returned to the $1,120 area. Both buyers and sellers have been cautious given gold’s volatility. As a prime example, less than one hundred 2010 American Gold Eagles have been auctioned on eBay US. It is sketchy at best to scrutinize the eagles too deeply with so few sold, but the numbers are nevertheless worth noting …

• US Mint Bullion Eagles Steady
  Gold coins enjoyed decent weekly gains. The proof Gold Buffalo advanced 771 to 47,599. As a group, First Spouse Gold coins rallied by 446. The uncirculated Anna Harrison coin was the biggest individual gainer, rising 118. Collectors are expecting these coins to go off sale with the upcoming release of the Abigail Fillmore gold coins. The Mint’s previous schedule had that set for March 4, but now the release date listed is a generic “March” time frame. Interested parties best buy while they can, as …

Gold on Thursday broke away and slid higher after falling for three straight days. Greek debt worries again came into picture early in the morning, which helped the dollar and initially hurt gold. The situation settled in the afternoon and the dollar pared gains while gold broke into positive ground.

In New York precious metals futures prices, April gold gained $11.30, or 1.0%, to $1,108.50 an ounce. It ranged from $1,088.50 to $1,110.00. May silver climbed 16.9 cents, or 1.1%, to close at $16.132 an ounce. April platinum rose $23.90, or 1.6%, to end at $1,531.20 an ounce.

"We expect dips to continue to draw investment support on inflation or deflation concerns and Greek downgrade or default worries, with gold holding in a broad band between $1,074 and $1,130," analysts at Bullion Desk said and were cited on MarketWatch.

In PM London bullion, the benchmark gold price was fixed earlier in the North American day to $1,094.50 an ounce, which was a decline of $8.50 from the price on Wednesday. Silver rose 16 cents to $15.920 an ounce. Platinum was settled at $1,514.00 an ounce, rising $10.00.

"In recent sessions gold has manifested a correlation to other assets (such as stocks), and is now being sold off in concert with rising risk aversion," wrote Jon Nadler, senior analyst at Kitco Metals, Inc. "However, at the end of the day gold remains largely defined by the movements of the US currency against its ever shakier rivals overseas."

New York oil for April delivery fell $1.83, or 2.3%, to end at $78.17 a barrel. Gold, considered a hedge during times of high inflation and economic uncertainty, tends to follow oil and move opposite to the U.S. dollar.

The latest US Mint weekly sales figures are out, and show steady bullion eagle sales. On the numismatic front, the Mint today released Disabled Veterans Silver Commemoratives in both proof and uncirculated condition. During an introductory period lasting through to March 29, 2010, these coins will be available for $39.95 and $33.95, respectively. Prices will increase after to $43.95 and $35.95. The coins are made from 90% silver and 10% copper.

Precious metals prices were mixed on Wednesday, with gold standing out with its consecutive three-day fall. The yellow metal dropped 0.5% as its inflation appeal was tarnished after Fed Chairman Ben Bernanke pledged to keep interest rates low into the foreseeable future.

In New York precious metals prices, April gold lost $6.00 to end at $1,097.20 an ounce. It ranged from $1,090.20 to $1,108.80. March silver rose 5.2 cents, or 0.3% to close at $15.940 an ounce. April platinum lost $3.00, or 0.2% to end at $1,507.30 an ounce.

"The selling has abated because of what Bernanke said. We remain more on the sidelines to see" which way the market will trade in the near-term, George Gero, vice president of global futures at RBC Capital Markets, said on MarketWatch.

In PM London bullion prices, gold fixed to $1,103.00 an ounce for a decline of $4.00. Silver lost 34 cents to $15.760 an ounce. Platinum settled at $1,504.00 an ounce, falling $14.00.

"The main driver for gold is as an inflation hedge," Jesper Dannesboe, a senior commodity strategist at Societe Generale SA in London, said on Bloomberg. "If people are worried about economic growth, then they are less worried about inflation."

New York crude-oil for April delivery gained $1.14, or 1.4% to end at $80 a barrel. Gold, considered a hedge during times of high inflation and economic uncertainty, tends to follow oil and move opposite to the U.S. dollar.

In gold coin news, the United States Mint increased coin prices for collector gold products. The change was the result of the weekly London fix gold average staying above $1,100 an ounce. The coins and their adjusted prices follow:

• 2009 American Buffalo Gold Coin moved from $1,360 to $1,410
• Uncirculated First Spouse Coins went from $691 to $716
• Proof First Spouse Coins increased from $704 to $729

Additionally, the latest US Mint sales report is available. For weekly figures for bullion and numismatic coins, read US Mint Sales: Presidential Dollar Proof Sets Lead.

A stronger dollar drove precious metal prices lower on Tuesday. The greenback was propelled higher by weaker consumer confidence numbers, as reported by the U.S. Conference Board. Commodities fell as the dollar hit an 8-month high against a basket of six other world currencies.

In New York precious metal prices, April gold declined $9.90, or 0.9%, to $1,103.20 an ounce. It ranged from $1,099.60 to $1,121.70. March silver fell 33.4 cents, or 2.1%, to close at $15.888 an ounce. April platinum lost $21.60, or 1.5%, to end at $1,510.30 an ounce.

"Markets are likely to remain in limbo ahead of Bernanke’s testimony, as investors are nervous of further fiscal tightening following last week’s hike in the discount rate," James Moore, an analyst at TheBullionDesk.com in London, said in a report that was cited on Bloomberg.

In PM London bullion prices, gold was fixed at $1,107.00 an ounce, declining $8.25. Silver fell 34 cents to $16.100 an ounce. Platinum was settled at $1,518.00 for a fall of $17.00.

"The US dollar continued to rise, as risk aversion remained the predominant theme among market players," wrote Jon Nadler, senior analyst at Kitco Metals, Inc. "Rally attempts in gold over recent session have been truncated by the rising perception that gold investment demand continues to be lackluster."

New York crude-oil for March delivery declined $1.45, or 1.8%, to end at $78.86 a barrel. Gold, considered a hedge during times of high inflation and economic uncertainty, tends to follow oil and move opposite to the U.S. dollar. A rising greenback makes dollar-denominated commodities, like bullion, more expensive for holders of other world currencies.

In bullion coin news, an interesting sampling of 2010 Gold Eagle coin values shows that the highest graded coins sell for the most in the secondary market. Eagles falling into the MS70 grade have had an average realized price on eBay of $1,340 an ounce between their release on January 19, 2010, to February 19, 2010. In news about the US Mint, Director Moy talks about coins in a recent forum that was open to the public. Coin production, mintage forecasts 2010 coin designs and other US coinage details were discussed.

Bullion prices were bullish for a second straight week. Driving precious metals direction for most of the week was the dollar and euro, and events which pulled them up or down. Gold was hit early on Thursday by the IMF announcement to sell 191.3 tons of gold. The amount was not news, but the timing was. The situation eventually settled with calm, and gold’s decline was limited. The other days in the U.S. holiday-shortened week were positive for the yellow metal in New York. London gold prices shifted slightly lower on both Thursday and Friday.

New York crude for March delivery gained 75 cents, or 0.9%, to close at $79.81 a barrel on Friday. The price is $5.68, or 7.7%, higher than last week. Gold tends to move opposite of the dollar and in the same direction as oil. A rising greenback makes dollar-denominated commodities more expensive for holders of other world currencies.

In New York weekly precious metals prices, April gold gained $32.10, or 2.9%, to end at $1,122.10 an ounce. Silver for March delivery finished at $16.413 an ounce, jumping 97 cents, or 6.3%. April platinum climbed $32.50, or 2.2%, to close at $1,543.60 an ounce.

In London Fix bullion weekly prices, gold gained $30.75, or 2.8%, to $1,112.75 an ounce. Silver rose 62 cents, or 4.0%, to $15.95 an ounce. Platinum settled at $1,513.00 an ounce, rising $8.00, or .05%.

"We anticipate the current dip buying mentality to continue as background concerns over Sovereign debt, inflation and even deflation draw investor diversification," James Moore, an analyst at theBullionDesk.com., wrote in a note that was cited on MarketWatch.

"Investors are buying gold as a hedge against currencies’ volatility," Carlos Sanchez, a metals analyst with CPM Group, said on Reuters. "Gold seems to be consolidating near the $1,130 an ounce area."

Silver, gold and platinum performance charts for the month of February follow.

London Fix Weekly Gains/Losses

US Mint Bullion Coin Weekly News

Two silver and gold related articles are listed that discuss the most recent weekly United States Mint numismatic and bullion coin sales report. Additionally, the Labor Department on Friday posted January inflation numbers, which gold investors watch closely. An article about those latest figures is also shown.

• US Mint Sales: 2010 Presidential $1 Coin Proof Sets Robust – CoinCollectingNews.org
  Demand for gold coins improved with a rebound in gold prices. First Spouse Gold Coins jumped impressively. The last weekly report had combined sales coming in at a negative 188. The latest figures are up by 943. The proof 2009 Buffalo Gold Coin also jumped, rising 1,327 for total sales of 46,828 …

• U.S. Inflation Rises 2.6%, Consumer Prices Edge 0.2% Higher
  The cost of living in the U.S. rose less than expected in January, as Americans paid less for new cars, clothes, hotels, homes and other shelter-related costs, the government reported Friday. However, the price of energy continues to be a burden with increases during the month and year that drove inflation higher over the past 12 months, according to the Labor Department. The Consumer Price Index (CPI), which is the government’s most closely watched barometer for measuring inflation at the consumer level, rose 0.2% in January for the fifth consecutive month. The figure is lower than the 0.3% increase most analysts were forecasting …

• US Mint Sales: Gold Coin Interest Picks Up – CoinNews.net
  The United States Mint headquarters in Washington, D.C. was shutdown for most of last week thanks to the two blizzards that blew through the East Coast. The wintry havoc not only closed the Mint and other federal agency doors, but left collectors high and dry when it came to the weekly coin sales figures. This week is catch-up, with two weeks worth of data combined into one. To the numbers… The 2010 Presidential Dollar Proof Set launched on Thursday, February 11, to a collector community eagerly awaiting to place orders. A solid 224,426 were scooped up by Sunday, February 14 …