Gold Prices Fall Modestly; Bullion Sales Unchanged for Silver Eagles

by Bullion Prices Staff on November 23, 2011

U.S. gold prices declined modestly Wednesday. December futures slipped $6.50, or 0.4%, to $1,695.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices hit their lowest point at $1,677.10 an ounce and moved as high as $1,710.80 an ounce.

"Comex December gold futures prices ended the U.S. day session modestly lower but well up from the daily low Wednesday. Bargain hunters once again stepped in to buy the dip in prices," wrote Jim Wyckoff of Kitco Metals.

"However, it was another ‘risk-off’ day in the market place Wednesday, and that had the raw commodity sector, including precious metals, under selling pressure. The  U.S. dollar index also traded solidly higher and hit a fresh seven-week high Wednesday, which was also bearish for gold and silver."

In other precious metals futures prices, December silver futures fell $1.07, or 3.2%, to $31.88 an ounce, December palladium futures declined $11.30, or 1.9%, to $589.85 an ounce and January platinum futures fell $12.70, or 0.8% to $1,558.30 an ounce.

United States Mint Bullion Coin Sales

1 oz. gold bullion coins were favored on the day as United States Mint Silver Eagles and fractional coin sales remained unchanged. The 1 oz. Gold Eagle and Gold Buffalo bullion coins rose with respective increases of 1,500 and 500.

The most recent United States Mint bullion product sales are provided below in the daily, November 2011 and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales
  Wednesday Gains November 2011 2011 Totals
1 oz American Gold Eagles 1,500 21,500 827,500
1/2 oz American Gold Eagles 0 0 65,000
1/4 oz American Gold Eagles 0 4,000 82,000
1/10 oz American Gold Eagles 0 15,000 370,000
1 oz American Gold Buffalo 500 6,000 151,000
5 oz America the Beautiful Silver not reported 3,300 393,300
1 oz American Silver Eagles 0 884,000 37,359,500


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 Friday, November 18, 2011. All other figures have an “as of date” of Wednesday, November 23, 2011.

Check out the latest sales article for both bullion and numismatic coins sold by the United States Mint.

London Bullion Prices

Silver was an outliner in London bullion prices Tuesday. Platinum was Wednesday, as it remained unchanged while other precious metals declined. From Tuesday PM to Wednesday PM fixings:

  • Gold prices fell $18 or 1.1%, to $1,681 an ounce,
  • Silver declined 34 cents, or 1.1%, to $31.51 an ounce,
  • Palladium fell $1, or 0.2%, to $587 an ounce, and
  • Platinum was $1,554 an ounce

Check this site’s home page for current metal prices.

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