Gold Prices Dip as Silver Adds 1.2%, Bullion Coins Higher

by Bullion Prices Staff on December 15, 2011

Gold prices fell for a fourth straight session Thursday, although their decline was modest compared to the previous session. For the day, February gold prices lost $9.70, or 1.2%, to $1,577.20 an ounce on the Comex division of the New York Mercantile Exchange. Prices traded between $1,562.50 an ounce and $1,596.50 an ounce. Losses on the day were attributed to a stronger dollar and technical selling.

"We are sitting on quite a lot of cash, I think a lot of people are," Rupert Caldecott, chief investment officer of the asset allocation team at Dalton Strategic Partnership, said according to Reuters. "The bond markets are offering no help. The problem with safe havens is that they have proven not to be safe at all and the list is getting shorter. It may only be cash very shortly," said Caldecott.

In other futures prices, March silver prices tacked on 33.9 cents, or 1.2%, to $29.27 an ounce, March palladium prices added $1.05, or 0.2%, to $620.65 an ounce and January platinum prices declined $19.30, or 1.4%, to $1,407 an ounce.

United States Mint Bullion Sales

United States Mint bullion sales dipped just a bit on the gold side compared to the previous day. Still, the one-ouncers have put an impressive string of gains together as they have advanced in eight of the last nine business days. For the numbers, the 1 oz. American Gold Eagle added 6,000 to 47,500 for December while the American Gold Buffalo added 1,000 to 11,500 for December.

In silver bullion, the American Silver Eagle matched its previous day pick-up with 50,000 is are at 1.456 million for December.

The latest United States bullion figures are provided below in the daily, December 2011 and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales
  Thursday Gain December 2011 2011 Totals
1 oz American Gold Eagles 6,000 47,500 892,000
1/2 oz American Gold Eagles 0 0 65,000
1/4 oz American Gold Eagles 0 0 82,000
1/10 oz American Gold Eagles 0 0 370,000
1 oz American Gold Buffalo 1,000 11,500 165,000
5 oz America the Beautiful Silver not reported 394,300
1 oz American Silver Eagle 50,000 1,456,000 39,315,500


Notes. Figures above are in coins, not ounces sold. The United States Mint last updated 5 oz. America the Beautiful Silver Bullion Coin sales on Monday, December 12, 2011. All other figures have an "as of date" of Thursday, December 15, 2011.

For United States Mint news of the day, check out the newly announced 2012 Star-Spangled Banner coin designs.

London Bullion Prices

London bullion prices were split with all but one metal dropping. From Wednesday PM to Thursday PM London fixings:

  • Gold prices declined $29, or 1.8%, to $1,574 an ounce,
  • Silver declined $1.12, or 3.7%, to $28.80 an ounce,
  • Palladium added $6.50, or 1.1%, to $623.50an ounce, and
  • Platinum declined $39, or 2.7%, to $1,415 an ounce

Check this site’s home page for the very latest bullion prices.

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