Gold Prices Rise on Week; Gold, Silver Bullion Coins Weaken

by Bullion Prices Staff on March 15, 2013

Bullion prices mixed it up this week as gold gained 1% and other precious metals retreated from between 0.3% and 0.9%. In United States bullion coins, sales slowed for both silver and gold coins.

First to gold prices… On Friday, gold futures for April delivery added $1.90, or 0.1%, to finish at $1,592.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Conversations with clients this week confirm our suspicion that although bullish views at the beginning of the year were perhaps too aggressive, underlying positive sentiment remains very much intact," UBS says.

"Gold has faced many challenges in 2013 thus far, and indeed these highlight that some scaling-back of higher price expectations is warranted. But in spite of disappointment with gold’s price performance, the majority of investors continue to share our constructive view on the yellow metal this year."

Gold prices have now advanced for a second consecutive week for a total gain of $20.30. But so far this year, gold has dropped $83.20, or 5%.

In other bullion prices on Friday:

  • May silver futures rose 4.4 cents, or 0.2%, to $28.85 an ounce,
  • June palladium futures added $4.90, or 0.6%, to $775.65 and
  • April platinum futures added $2.60, or 0.2%, to $1,592.40 an ounce

For the week, losses were 0.3% for silver, 0.7% for platinum and 0.9% for palladium. For the year to date, silver has fallen 4.6% but platinum has gained 3.2% and palladium has rallied 10.3%.

New York bullion prices on the day and their weekly changes follow.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $28.85 $29.17 $28.96 $28.81 $28.85 -$0.097
-0.3%
Gold Prices $1,578.00 $1,591.70 $1,588.40 $1,590.70 $1,592.60 $15.70
1.0%
Platinum Prices $1,601.20 $1,595.00 $1,593.10 $1,589.80 $1,592.40 -$11.50
-0.7%
Palladium Prices $779.20 $775.50 $771.25 $770.75 $775.65 -$7.10
-0.9%

 

United States Mint Bullion Coin Sales

Compared to last week, sales this week of United States Mint bullion coins retreated — significantly for gold coins and modestly for silver coins. Weekly breakdowns were:

  • American Eagle gold bullion coins reached 9,500 ounces versus last week’s total of 21,000 ounces.
  • American Eagle silver bullion coins accumulated to 814,500, which is 82,500 lower than last week.
  • American Buffalo gold bullion coins slipped in at 1,000 ounces compared to last week’s 5,500 ounces.
  • For a second straight week, sales were flat for America the Beautiful 5 oz. silver bullion coins. Part of that is likely the result of limited buying options. Three of the 2011-dated coins remain available but all of the 2012 ATB coins sold out. None of this year’s ATB coins have been released yet.

U.S. Mint bullion products with sales by day and for the year to date follow.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 500 0 4,500 0 2,500 222,000
1/2 oz American Eagle Gold Bullion Coins 0 0 0 0 1,000 25,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 2,000 42,000
1/10 oz American Eagle Gold Bullion Coins 5,000 0 5,000 0 0 200,000
1 oz American Buffalo Gold Bullion Coins 0 0 1,000 0 0 90,500
5 oz America the Beautiful Silver Bullion Coins 0 0 0 0 0 63,100
1 oz American Eagle Silver Bullion Coins 665,500 39,000 0 110,000 0 12,578,000

 

To check out weekly performances of U.S. Mint numismatic silver products, read this silver coins article.

Bullion Prices in London

Bullion prices in London changed slightly, for the most part, on Friday and for the week. Daily bullion prices and the weekly percent and net changes are listed in the following table.

London Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $28.90 $29.25 $29.12 $28.64 $28.91 $0.13
0.5%
Gold Prices $1,579.00 $1,594.00 $1,589.25 $1,586.00 $1,595.50 $13.75
0.9%
Platinum Prices $1,594.00 $1,604.00 $1,595.00 $1,583.00 $1,593.00 $5.00
0.3%
Palladium Prices $774.00 $774.00 $773.00 $766.00 $774.00 $5.00
0.7%

 

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: