Gold Prices Fall, Gold and Silver Eagle Bullion Coins Unchanged

by Bullion Prices Staff on January 24, 2012

Gold prices declined Tuesday for the first time in three sessions. A rallying U.S. dollar as a result of the falling euro was credited for pressuring gold and other precious metals prices. February gold prices declined $13.80, or 0.8%, to $1,664.50 an ounce on the Comex division of the New York Mercantile Exchange, trading between $1,645.20 an ounce and $1,666.80 an ounce.

"There is a refocus on the debt crisis in Europe. Gold will continue to trade in tandem with the euro in the near term, and the market is going to pay attention to the Fed’s guidance on future interest rates," Reuters quoted Frank McGhee, head precious metals trader of Integrated Brokerage Services LLC.

March silver prices declined 29.5 cents, or 0.9%, to $31.98 an ounce. In PGM futures, March palladium lost $8.30, or 1.2%, to $680.55 an ounce and January platinum prices fell $8.70, or 0.6%, to $1,552.40 an ounce.

United States Mint Bullion Coins

Zero gains were published for United States Mint bullion coins on Tuesday but levels did rise on Monday across the 1 oz. pieces. From smallest to biggest gains, the American Gold Buffalo added 1,000, the American Gold Eagle advanced 7,500 and the American Silver Eagle gained 250,000. The Silver Eagle is less than 900,000 away making January 2012 the best-selling month ever for the .999 fine silver coins.

For recent 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 January 2012
1 oz American Gold Eagle 7,500 0 75,000
1/2 oz American Gold Eagle 0 0 46,000
1/4 oz American Gold Eagle 0 0 32,000
1/10 oz American Gold Eagle 0 0 75,000
1 oz American Gold Buffalo 1,000 0 10,500
5 oz America the Beautiful Silver 0 0 4,000
1 oz American Silver Eagle 250,000 0 5,547,000

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 Tuesday, January 17, 2012. All other figures have an "as of date" of Tuesday, January 24, 2012, as published on the Mint website.

In major United States Mint news of the week, not necessarily related to bullion, the following articles are of note:

The first article discusses the strong likelihood of higher prices Wednesday for United States Mint numismatic gold coins, including proof Gold Eagles, the proof Gold Buffalo and the First Spouse Gold Coins. The second article discusses the possibility of a 2012-dated uncirculated Silver Eagle produced in San Francisco as well as the potential for a new annual series of Silver Eagle sets.

London Bullion Prices

London bullion prices retreated. From the Monday PM to Tuesday PM London Fix prices:

  • Gold prices declined $10, or 0.6%, to $1,665.50 an ounce,
  • Silver declined 50 cents, or 1.5 %, to $31.95 an ounce,
  • Palladium declined $2, or 0.3%, to $676 an ounce, and
  • Platinum declined $4, or 0.3%, to $1,541 an ounce

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

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: