Gold Prices Down Modestly, Bullion Gold Eagles Sole Gainers

by Bullion Prices Staff on October 26, 2010

Bullion prices were mixed Tuesday, with gold slightly lower and other precious metals higher. Gold did recover significantly from its lowest point of $1,328.10 an ounce when the U.S. dollar pressured prices the most.

In the end, New York gold prices for December deliver slipped 30 cents to settle at $1,338.60 an ounce. That was down $4.40 from its intraday high of $1,343.80.

"Gold has been tracking the dollar much like the old days," Frank McGhee, the head dealer at Integrated Brokerage Services in Chicago, said and was quoted on Bloomberg. "Gold is off again on dollar strength."

Silver for December delivery rose 28.6 cents or 1.2% to $23.830 an ounce. It was the second best performer in precious metals, following palladium which jumped $16.65 or 2.7% to $625.45 an ounce.

January platinum settled at $1,704.00 an ounce for a pick up of $7 or 0.4%.

TheĀ London bullion Fix price for gold was $1,329.50 an ounce for a loss of $8 or 0.6%. The silver Fix was $23.48. That was down 23 cents or 1%. In PGM metals, the platinum fixing of $1,696 an ounce was off $6 or 0.4% and the palladium price of $608 an ounce was down $3 or 0.5%.

United States Mint Gold Eagles were the only bullion coins that moved higher Tuesday. The one-ounce size increased 7,500 and the fractional quarter-ounce rose 2,000 — its first increase since September. The latest U.S. Mint published sales figures are in the following table.

October 2010 US Mint Bullion Coin Sales
October 2010 Tuesday Gain 2010 Totals
American Buffalo Gold Sold Out 209,000
1 oz American Gold Eagle 86,500 7,500 974,000
1/2 oz American Gold Eagle 3,000 0 39,000
1/4 oz American Gold Eagle 2,000 2,000 56,000
1/10 oz American Gold Eagle 25,000 0 380,000
American Silver Eagle 2,600,000 0 28,080,500

 

Figures above are in coins, not ounces of gold sold.

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