Gold Gains for 3rd Day, Silver Prices Top $30, Silver Coins Hit New Milestone

by Bullion Prices Staff on January 12, 2012

U.S. gold advanced Thursday, marking a third straight day of gains. February gold prices picked up $8.10, or 0.5%, to $1,647.70 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal traded from $1,640.90 an ounce to $1,662.90 an ounce. Gold was supported by weaker greenback, according to analysts.

"The weakness in dollar helped gold," Fred Schoenstein, a trader at Heraeus Precious Metals Management in New York, said in a telephone interview. "Speculation about credit easing in China is good news for gold and other commodities."

Silver tracked gold. March silver prices rose 23.4 cents, or 0.8%, to $30.12 an ounce.

PGM metals were mixed. March palladium prices fell $4.40, or 0.7%, to $641.25 an ounce while April platinum prices added $2.40, or 0.2%, to $1,500.10 an ounce.

United States Mint Bullion Coins

Each of the U.S. Mint’s 1 oz. bullion coins rose Thursday. Showing up top was the American Silver Eagle with daily sales of 340,000. Sales of the silver coins have reached just short of 4.6 million for January. The monthly amount is the second highest in the series’ history. Quite a bit more need to be sold to pass the monthly record of 6.422 million which was set last January.

For other bullion coin advances, check out the figures provided below in the daily, and January 2012 columns.

United States Mint 2012 Bullion Coin Sales
  Monday Gains Tuesday Gains Wednesday Gains Thursday Gains January 2012
1 oz American Gold Eagles 3,500 2,500 0 2,500 61,500
1/2 oz American Gold Eagles 2,000 2,000 0 1,000 18,000
1/4 oz American Gold Eagles 0 0 0 0 30,000
1/10 oz American Gold Eagles 0 0 0 0 75,000
1 oz American Gold Buffalo 0 4,000 0 500 8,000
5 oz America the Beautiful Silver 500 - 0 0 1,500
1 oz American Eagle Silver Coins 410,000 300,000 0 340,000 4,597,000


Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Coins on Monday, January 9, 2012. All other figures have an "as of date" of Thursday, January 12, 2012, as published on the Mint website.

In United States Mint news of the day, read the article about the Mt. Hood silver coin selling out. The 5 oz. silver coin is the fifth in the America the Beautiful 5 oz. Silver Uncirculated Coin program. It is also the fifth to sell out. Additionally, the article includes the latest weekly sales for United States Mint numismatic silver products.

London Bullion Prices

London bullion prices advanced with gains ranging from 0.6% for platinum to 2.6% for silver. From the Wednesday PM to Thursday PM London fixings:

  • Gold added $26.50, or 1.6%, to $1,661 an ounce,
  • Silver prices rose 77 cents to $30.58 an ounce,
  • Palladium gained $7, or 1.1%, to $645 an ounce, and
  • Platinum added $9 to $1,498 an ounce

Refer to this site’s home page for always updated bullion prices and news.

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