Gold Prices Hit Five-Week High, Silver Gains, U.S. Bullion Coin Sales Rise

by Bullion Prices Staff on January 18, 2012

U.S. gold prices rose for a second consecutive session Wednesday and settled to the highest point since December 13. February gold futures closed higher by $4.30, or 0.3%, to $1,659.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices traded from a low of $1,642.10 an ounce to a high of $1,662.90 an ounce.

"Comex February gold futures prices ended the U.S. day session with modest gains and closed nearer the daily high. The market was boosted by some technically related buying and by a weaker U.S. dollar index," wrote Jim Wyckoff of Kitco News. "Gold was under mild selling pressure early in the trading session, but traders did step in to ‘buy the dip’ and that pushed prices back above unchanged."

In other New York commodities futures, March silver prices added 40.8 cents, or 1.4%, to $30.54 an ounce, March palladium prices rose $13, or 2%, to $668.50 an ounce and January platinum prices declined $3.40, or 0.2%, to $1,525.30 an ounce.

United States Mint Bullion Coin Sales

In a surprising jump, the 1/2 oz. American Gold Eagle bullion coin gained 26,000 Wednesday. The single-day amount is higher than any complete monthly sales total since June 2010. Matching its Tuesday increase, the 1 oz. American Gold Eagle bullion coin moved up 3,000.

In wrapping up bullion coin sales, the American Silver Eagle bullion coin rose by 50,000.

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 Eagles 3,000 3,000 67,500
1/2 oz American Gold Eagles 2,000 26,000 46,000
1/4 oz American Gold Eagles 2,000 0 32,000
1/10 oz American Gold Eagles 0 0 75,000
1 oz American Gold Buffalo 1,500 0 9,500
5 oz America the Beautiful Silver 2,500 - 4,000
1 oz American Eagle Silver Coins 525,000 50,000 5,172,000


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 Wednesday, January 18, 2012, as published on the Mint website.

In major United States Mint news of the day, not necessarily related to bullion, the following article(s) are of note:

The article discusses the release of the clad 2012 proof set which features the five 2012 America the Beautiful Quarters which honoring:

  • El Yunque National Forest Quarter for Puerto Rico,
  • Chaco Culture National Historical Park Quarter for New Mexico,
  • Acadia National Park Quarter for Maine,
  • Hawai’i Volcanoes National Park Quarter for Hawaii and
  • Denali National Park and Preserve Quarter for Alaska

London Bullion Prices

London bullion prices registered losses ranging from 0.5% for gold to 1.5% for palladium. From the Tuesday PM to Wednesday PM London Fix prices:

  • Gold prices declined $9 to $1,647 an ounce,
  • Silver fell 26 cents, or 0.9 %, to $30.15 an ounce,
  • Palladium declined $10 to $646 an ounce, and
  • Platinum fell $16, or 1.1%, to $1,507 an ounce

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

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