Gold Prices Fall for 3rd Week; US Mint Bullion Gold, Silver Coins Slow

by Bullion Prices Staff on December 15, 2012

Gold prices, and silver prices, dropped for a third week in a row. Gold ended down 0.5% from last Friday while silver fell 2.5%. Palladium and platinum, however, gained this week with respective increases of 0.6% and 0.5%.

February gold prices on Friday rose a modest 20 cents to close at $1,697 an ounce on the Comex division of the New York Mercantile Exchange.

Gold may be range-bound for now, says Alex Thorndike, senior precious metals and forex trader with MKS Capital. "Gold at present seems to be lacking any significant directional trading interest, instead finding short-term specs dominating trade either side of $1,700," he says. "This will be likely to continue into the New Year with profit taking through $1,710-15 and support between $1,685-90.

Silver was the single precious metal lower Friday. March silver futures prices shed 5.6 cents, or 0.2%, to $32.30 an ounce.

Platinum changed modestly. January platinum prices gained $1.70, or 0.1%, to $1,614.50 an ounce. Sister metal palladium surged $10.40, or 1.5% to close at $702.05 an ounce.

New York bullion prices on a daily and weekly basis are listed below.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $33.38 $33.02 $33.78 $32.355 $32.30 -$0.83
-2.5%
Gold Prices $1,714.40 $1,709.60 $1,717.90 $1,696.80 $1,697.00 -$8.50
-0.5%
Platinum Prices $1,623.30 $1,640.00 $1,646.40 $1,612.80 $1,614.50 $7.50
0.5%
Palladium Prices $704.75 $696.80 $701.15 $691.65 $702.05 $4.05
0.6%

 

United States Mint Bullion Coin Sales

Sales were down significantly this week for United States Mint bullion coins — gold coins moved the slowest since toward the end of October and silver coins the slowest since the third week in November. Weekly sales across the Mint’s bullion products were:

  • 9,000 ounces of American Eagle gold coins versus the previous 26,500 ounces
  • 2,500 ounces of American Buffalo gold coins compared to the prior 4,000 ounces
  • 500,000 American Eagle silver coins against the previous 903,000
  • No America the Beautiful 5 oz Silver Bullion Coins versus the prior 10,000 ounces

United States Mint bullion products are listed below. The columns provide their sales by day this week, for the month-to-date and for the year-to-date.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed Thurs Fri December 2012 Sales
1 oz American Eagle Gold Bullion Coins 2,500 0 4,000 1,500 1,000 33,500 627,500
1/2 oz American Eagle Gold Bullion Coins 0 0 0 0 0 2,000 70,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 0 4,000 74,000
1/10 oz American Eagle Gold Bullion Coins 0 0 0 0 0 0 315,000
1 oz American Buffalo Gold Bullion Coins 0 0 0 0 2,500 6,500 130,500
5 oz America the Beautiful Silver Bullion Coins 0 0 0 0 0 2,000 118,100
1 oz American Eagle Silver Bullion Coins 300,000 0 0 200,000 0 1,403,000 33,510,500

 

Notes: Bullion coin sales above are in the number of coins sold, not the amount of ounces sold.

In our weekly update of news about the United States Mint, two articles are of note:

Earlier this week the United States Mint published designs for the 2013 America the Beautiful coins — these are the ones that will appear on the circulating America the Beautiful Quarters and the bullion and collector five ounce America the Beautiful 5 oz. silver coins. These designs pay homage to White Mountain National Forest in New Hampshire, Perry’s Victory and International Peace Memorial in Ohio, Great Basin National Park in Nevada, Fort McHenry National Monument and Historic Shrine in Maryland and Mount Rushmore National Memorial in South Dakota.

The United States Mint also published a preliminary schedule for its 2013 products. These include releases for January through to December, which was unlike this year where the Mint offered a heads-up of product launches maybe up to a month before they happened.

Bullion Prices in London

Bullion prices in London on Friday and for the week directionally matched New York futures — silver lost on the day and it fell along with gold on the week. In the grid below are daily London Fix prices and the net and percentage changes from last Friday.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $33.34 $33.17 $33.10 $32.69 $32.52 -$0.33
-1.0%
Gold Prices $1,712.50 $1,710.00 $1,716.25 $1,692.75 $1,696.25 -$5.25
-0.3%
Platinum Prices $1,622.00 $1,631.00 $1,639.00 $1,607.00 $1,613.00 $13.00
0.8%
Palladium Prices $699.00 $695.00 $697.00 $682.00 $700.00 $2.00
0.3%

 

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: