Gold Prices Rise Modestly, Silver Dips and US Bullion Sales Flat

by Bullion Prices Staff on February 16, 2012

Gold prices edged higher Thursday as the US dollar showed weakness late in the trading day. Until then, gold was pressured and in the red. Gold prices gained 30 cents to $1,728.40 an ounce on the Comex division of the New York Mercantile Exchange, trading from $1,706.70 an ounce to $1,731.10 an ounce.

"From a technical perspective, gold has been well supported on any dips toward $1,700," Saeed Amen, an analyst at Nomura International Plc in London, said in an e-mail that was cited on Bloomberg. "The tail-risk effect related to the Greece situation should also act as some support."

In other New York precious metals futures, March silver prices dipped 3.8 cents, or 0.1%, to $33.37 an ounce, March palladium prices added $12.95, or 1.9%, to $696.60 an ounce and April platinum prices fell $12.10, or 0.7%, to $1,626.10 an ounce.

United States Mint Bullion Sales

For a second day this week, United States Mint bullion sales were flat as no gains were reported Thursday, like Tuesday. The most recent bullion figures are provided below in the daily, monthly and 2012 columns.

Sales of United States Mint 2012 Bullion Coins
Mon. Tues. Wed. Thurs. Feb. 2012 Sales
1 oz American Gold Eagle 1,500 0 5,000 0 14,500 99,000
1/2 oz American Gold Eagle 0 0 0 0 0 49,000
1/4 oz American Gold Eagle 0 0 0 0 2,000 40,000
1/10 oz American Gold Eagle 0 0 0 0 0 85,000
1 oz American Gold Buffalo 500 0 1,500 0 3,500 17,000
5 oz America the Beautiful Silver Coins 0 0 0 0 0 5,700
1 oz American Eagle Silver Coins 25,000 0 100,000 0 835,000 6,942,000

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 Friday, January 27, 2012. All other figures have an "as of date" of Thursday, February 16, 2012, as published on the Mint website.

In recent United States Mint news, the following article is of note:

This article covers weekly numismatic and bullion sales for United States Mint silver products. The article leads with the 2011-P Chickasaw National Recreation Area 5 Ounce Silver Uncirculated Coin as it is the most recent silver product released by the Mint. Its five-day sales began at 8,658, which was better than the debut of the previous 5 ounce issue in the series.

London Bullion Prices

London bullion prices declined across the board. From the Wednesday PM to Thursday PM London Fix:

  • Gold prices lost $20, or 1.2%, to $1,713 an ounce,
  • Silver fell 51 cents, or 1.5%, to $33.18 an ounce,
  • Palladium declined $6, or 0.9%, to $682 an ounce, and
  • Platinum lost $26, or 1.6%, to $1,610 an ounce

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

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