Gold Prices Rise, Bullion Coins Unchanged, Olympic 5 Oz. Released

by Bullion Prices Staff on November 29, 2011

U.S. gold prices rose slightly Tuesday, registering a second consecutive session increase. February gold futures added $4.40, or 0.3%, to $1,718.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices moved through a fairly narrow range with a low at $1,707.20 an ounce and a high at $1,721.70 an ounce. Gold’s gains were mostly attributed to a weaker U.S. dollar.

"The strength in other commodities is helping gold," Sterling Smith, an analyst at Country Hedging Inc. in St. Paul, Minnesota, said in a telephone interview that was recounted on Bloomberg. "The weaker dollar is also lending support."

Silver was an outlier in New York precious metals futures. It was the only major metal to fall for the day, albeit in a modest way. February silver prices retreated 21.1 cents, or 0.7%, to $31.950 an ounce.

Gains were modest in PGM futures. March palladium prices added $2.70, or 0.5%, to $584.25 an ounce while January platinum prices added $1.20, or 0.1%, to $1,540.70 an ounce.

United States Mint Bullion Coins – Unchanged Tuesday, 1 Oz. Rise Monday

The United States Mint published no gains for its line of bullion coins on Tuesday, keeping the sales levels unchanged from Monday when each of the Mint’s 1 oz. coins advanced. Those previous day increased included 500 for the American Gold Buffalo, 5,000 for the American Gold Eagle and 300,000 for the American Silver Eagle.

The latest United States bullion figures are provided below in the daily, November 2011 and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales
  Tuesday Gain November 2011 2011 Totals
1 oz American Gold Eagles 0 38,500 844,500
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 0 8,500 153,500
5 oz America the Beautiful Silver not reported 393,300
1 oz American Silver Eagle 0 1,284,000 37,759,500

 

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 25, 2011. All other figures have an "as of date" of Tuesday, November 29, 2011.

Olympic 5 Oz. Release

There is one news items of note related to United States Mint silver coins:

The release marks the 3rd issue this year in the Mint’s America the Beautiful Five Ounce Silver Uncirculated Coin™ series. Struck from five ounces of .999 fine silver, the new Olympic coin is available for $229.95 at http://www.usmint.gov. The coin features the same design as found of the Olympic America the Beautiful Quarter as well as the Olympic bullion version.

London Bullion Prices

London bullion prices were split for the day. From the Monday PM to Tuesday PM London fixings:

  • Gold prices added $3, or 0.2%, to $1,717 an ounce,
  • Silver declined 4 cents, or 0.1%, to $31.96 an ounce,
  • Palladium declined $13, or 2.2%, to $582 an ounce, and
  • Platinum declined $21, or 1.3%, to $1,537 an ounce

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

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