Gold Prices Hit 4-Week High, US Bullion Gold and Silver Coins Unchanged

by Bullion Prices Staff on January 11, 2012

Gold prices climbed for a second straight session and settled to a four-week high Wednesday as safe-haven demand along with surging physical demand in China contributed to gains, opined analysts. February gold prices added $8.10, or 0.5%, to $1,639.60 an ounce on the Comex division of the New York Mercantile Exchange. The closing price was the highest since Dec. 13.

"What is particularly bullish about the import data is that there is a ban on exporting gold from China so gold bullion is in strong hands in China," GoldCore analysts said according to MarketWatch.

China imported 102,799 kilograms in Nov. — an all-time high, as compared to 86,299 kilograms in Oct.

March silver prices added 7.5 cents, or 0.3%, to $29.89 an ounce.

In PGM metals futures, March palladium prices gained $10.45, or 1.6%, to $645.65 an ounce while April platinum prices shot up $33.10, or 2.3%, to $1,497.70 an ounce.

United States Mint Bullion Coins

U.S. bullion coin amounts were unchanged Wednesday. The latest United States Mint bullion figures are provided below in the daily, and January 2012 columns.

United States Mint 2012 Bullion Coin Sales
  Monday Gains Tuesday Gains Wednesday Gains January 2012
1 oz American Gold Eagles 3,500 2,500 0 59,000
1/2 oz American Gold Eagles 2,000 2,000 0 17,000
1/4 oz American Gold Eagles 0 0 0 30,000
1/10 oz American Gold Eagles 0 0 0 75,000
1 oz American Gold Buffalo 0 4,000 0 7,500
5 oz America the Beautiful Silver 500 - 0 1,500
1 oz American Silver Eagle 410,000 300,000 0 4,257,000

 

Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, January 9, 2012. All other figures have an "as of date" of Wednesday, January 11, 2012, as published on the Mint website.

In United States Mint news for Thursday, the bureau is releasing the Vicksburg Five Ounce Silver Uncirculated Coin. Containing five ounces of .999 fine silver, the United States Mint has priced it at $204.95. It will be available at noon ET at http://www.usmint.gov.

London Bullion Prices

Earlier fixed London bullion prices were split. From the Tuesday PM to Wednesday PM London fixings:

  • Gold prices declined $2.50, or 0.2%, to $1,634.50 an ounce,
  • Silver added 12 cents, or 0.4%, to $29.81 an ounce,
  • Palladium declined $5, or 0.8%, to $638 an ounce, and
  • Platinum added $27, or 1.8%, to $1,489 an ounce

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

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