Gold Prices Tilt Slightly Lower, US Mint Bullion Sales Unchanged

by Bullion Prices Staff on December 1, 2011

U.S. gold prices retreated Thursday, snapping a string of three straight sessions increases. Profit-taking, a weaker U.S. dollar and a cautious environment following Wednesday’s rally were among the factors analysts cited in pressuring gold. February gold prices lost $10.50, or 0.6%, to $1,739.80 an ounce on the Comex division of the New York Mercantile Exchange.┬áThe metal’s lowest point in the session was at $1,737.20 an ounce while its high reached $1,758 an ounce.

"Comex February gold futures prices on Thursday ended the U.S. day session moderately lower and saw a corrective pullback from Wednesday’s big gains," wrote Jim Wyckoff of Kitco. "The market is also pausing and consolidating this week’s good gains. A generally lower raw commodity sector Thursday also limited buying interest in the precious metals."

Silver nudged just a touch lower. March silver prices declined 4.5 cents, or 0.1%, to $32.76 an ounce.

PGM metals moved in opposite direction. Platinum followed gold and silver lower while palladium gained. March palladium prices rose $17.60, or 2.9%, to $630.20 an ounce and January platinum fell $3.60, or 0.2%, to $1,557.20 an ounce.

United States Mint Bullion Sales

Zero bullion coins were added to the sales tables Thursday, according to United States Mint published data. The sales are provided below.

United States Mint 2011 Bullion Coin Sales
  Thursday Gain December 2011 2011 Totals
1 oz American Gold Eagles 0 0 844,500
1/2 oz American Gold Eagles 0 0 65,000
1/4 oz American Gold Eagles 0 0 82,000
1/10 oz American Gold Eagles 0 0 370,000
1 oz American Gold Buffalo 0 0 153,500
5 oz America the Beautiful Silver not reported 393,300
1 oz American Silver Eagles 0 0 37,859,500

 

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 Monday, November 28, 2011. All other figures have an "as of date" of Thursday, December 1, 2011.

For an analysis of recent U.S. Mint bullion and numismatic coin sales, read the article 2011 Proof Set Ready for 1 Million in Sales on CoinCollectingNews.org. An article focused solely on silver coin sales may be read at Silver Coins Today.

London Bullion Prices

London bullion prices rose. From the Wednesday PM to Thursday PM London fixings:

  • Gold prices added $6, or 0.3%, to $1,752 an ounce,
  • Silver added $1.93, or 6.2%, to $31.28 an ounce,
  • Palladium added $13, or 2.1%, to $633 an ounce, and
  • Platinum added $3, or 0.2%, to $1,561 an ounce

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

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