Gold Prices Advance for 3rd Day, American Eagle Bullion Sales Rise

by Bullion Prices Staff on February 2, 2012

U.S. gold prices climbed Thursday for a third consecutive day and touched an intraday peak that was the highest for gold since Dec. 2. April gold futures gained $9.80, or 0.6%, to $1,759.30 an ounce on the Comex division of the New York Mercantile Exchange. The aforementioned two-month high was $1,763.80 an ounce.

"Gold and silver both started their rallies right around the time of Thursday morning’s testimony by Fed Chairman Bernanke to the U.S. House of Representatives. While Bernanke said nothing really new or surprising, he reiterated the U.S.’s path to better economic times remains a tough one," noted Jim Wyckoff of Kitco News.

"It’s likely that gold rallied in part due to Bernanke’s general reaffirmation of last week’s FOMC statement that pledged continued low interest rates well into 2013 and hinted more quantitative easing could be forthcoming — which was bullish for the precious metals."

In other major precious metals futures, March silver prices added 36.80 cents, or 1.1%, to $34.18 an ounce, March palladium prices gained $10.95, or 1.6%, to $707.65 an ounce and April platinum prices grew $6.70, or 0.4%, to $1,629.90 an ounce.

United States Mint Bullion Coin Sales

After a day of silence, the United States Mint’s reported new sales for its most popular bullion coins — 1,000 for the 1 oz. American Gold Eagle and 45,000 for the American Silver Eagle. The gains were the first for Feb.

The latest bullion coin sales are provided below in the daily, monthly and 2012 columns.

Sales of United States Mint 2012 Bullion Coins
Monday Gains Tuesday Gains Wednesday Gains Thursday Gains Feb. Sales 2012 Sales
1 oz American Gold Eagle 1,500 3,500 0 1,000 1,000 85,500
1/2 oz American Gold Eagle 0 0 0 0 0 49,000
1/4 oz American Gold Eagle 0 0 0 0 0 38,000
1/10 oz American Gold Eagle 0 10,000 0 0 0 85,000
1 oz American Gold Buffalo 1,000 1,500 0 0 0 13,500
5 oz America the Beautiful Silver Coins 0 0 0 0 0 5,700
1 oz American Eagle Silver Coins 385,000 25,000 0 45,000 45,000 6,152,000

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 Friday, January 27, 2012. All other figures have an "as of date" of Thursday, February 2, 2012, as published on the Mint website.

In other United States Mint sales news, the following articles are of note:

The first article details the performance of American Gold Eagle bullion coins during the month of January, including breakouts across the four different sizes and how they compare to previous months.

The second article recaps the latest weekly United States Mint coin sales, including its bullion and numismatic products.

London Bullion Prices

London bullion prices were mixed for yet another day. From the Wednesday PM to Thursday PM London Fix prices:

  • Gold prices added $11, or 0.6%, to $1,751 an ounce,
  • Silver fell 13 cents, or 0.4%, to $33.67 an ounce,
  • Palladium rose $3, or 0.4%, to $698 an ounce, and
  • Platinum gained $9, or 0.6%, to $1,620 an ounce

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

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