Gold Prices Rebound 1.4%, Bullion Coin Sales Solid

by Bullion Prices Staff on February 7, 2012

A weaker U.S. dollar and bargain-hunting were cited reasons for gains in gold prices Tuesday. After two straight session losses, April gold futures rebounded $23.50, or 1.4% to $1,748.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices traded between $1,712.60 an ounce and $1,752.60 an ounce.

"There’s general improvement in risk sentiment and strong weakness in the dollar," Bloomberg quoted Nic Johnson, who helps manage about $30 billion in commodities at Pacific Investment Management Co. in Newport Beach, California. "Equities are higher, commodities are higher, so people are generally putting on risk."

In other New York futures, March silver prices added 44.4 cents, or 1.3%, to $34.19 an ounce, March palladium prices added $3.20 or 0.5%, to $709.15 an ounce, and April platinum prices added $25.00, or 1.5%, to $1,654.80 an ounce.

United States Mint Bullion Coin Sales

United States Mint 1 oz. bullion coin sales are beginning the week strong. Sales of the Gold Eagle grew 5,000 though Monday and Tuesday while the Silver Eagle is up 575,000 during the same period. The Gold Buffalo did not rise Monday but gained 1,000 on Tuesday.

The latest bullion coin sales are provided below in the daily, monthly and 2012 columns.

Sales of United States Mint 2012 Bullion Coins
Monday Gains Tuesday Gains Feb. Sales 2012 Sales
1 oz American Gold Eagle 4,000 1,000 6,000 90,500
1/2 oz American Gold Eagle 0 0 0 49,000
1/4 oz American Gold Eagle 2,000 0 2,000 40,000
1/10 oz American Gold Eagle 0 0 0 85,000
1 oz American Gold Buffalo 0 1,000 1,000 14,500
5 oz America the Beautiful Silver Coins 0 0 0 5,700
1 oz American Eagle Silver Coins 375,000 200,000 670,000 6,777,000

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 Friday, January 27, 2012. All other figures have an "as of date" of Tuesday, February 7, 2012, as published on the Mint website.

London Bullion Prices

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

  • Gold prices rose $5, or 0.3%, to $1,724 an ounce,
  • Silver declined 24 cents, or 0.7%, to $33.28 an ounce,
  • Palladium advanced $4, or 0.6%, to $700 an ounce, and
  • Platinum added $10, or 0.6%, to $1,619 an ounce

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

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