Gold Prices Slip Slightly, Buffalo Gold Bullion Coins Rise 1,500

by Bullion Prices Staff on March 29, 2011

U.S. bullion prices were mixed Tuesday in another day of mostly narrow changes. Gold, silver and platinum each pulled back slightly. Palladium prices were stronger, rising 1%.

June gold prices fell $3.80, or 0.3%, to $1,417.50 an ounce on the Comex division of the New York Mercantile Exchange. Its lowest level came in at $1,412.10 an ounce. It reached a high at $1,424.70 an ounce.

"Comex gold futures prices ended slightly lower Tuesday as some more profit-taking pressure surfaced amid an increase in investor risk appetite that has pulled some demand away from the precious metals," wrote Jim Wyckoff of Kitco News.

Wyckoff added that "the recent rebound in the U.S. stock market from the March lows is a negative for the precious metals markets, as it shows investor risk appetite has increased, which does pull away demand for the safe-have precious metals markets. The recent downside price pressure in U.S. Treasury market prices is another indicator of better investor risk appetite in the market place."

In other metals, May silver tripped 10.1 cents, or 0.3%, to $36.99 an ounce, June palladium picked up $7.25 to $752.95 an ounce, and July platinum stepped back $8, or 0.5%, to $1,744.10 an ounce.

In comparing London bullion PM fixing prices on Tuesday to those on Monday, all advanced slightly with the exception of silver which remained unchanged at $36.62 an ounce.

  • Gold inched higher by 50 cents to $1,417.50 an ounce
  • Palladium added $1, or 0.1%, to $743 an ounce
  • Platinum rose $15, or 0.9%, to $1,745 an ounce

United States Mint Authorized Purchasers on Tuesday matched their Monday order of 1,500 American Buffalo Gold bullion coins, but no other Mint bullion products were purchased.

The daily, March and 2011 bullion sales figures follow:

2011 U.S. Mint Bullion Coin Sales
1 oz American Gold Buffalo 38,000 1,500 38,000
1 oz American Gold Eagle 58,000 0 261,000
1/2 oz American Gold Eagle 8,000 0 21,000
1/4 oz American Gold Eagle 20,000 0 38,000
1/10 oz American Gold Eagle 40,000 0 160,000
American Silver Eagle 2,767,000 0 12,429,000

Figures above are in coins, not ounces sold.

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