Gold prices as well as other precious metals declined Tuesday, pressured by a stronger U.S. dollar that was supported by euro zone debt crisis issues.
June gold prices fell $34.60, or 2.1%, to $1,604.50 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal traded between $1,595.50 an ounce and $1,639.50 an ounce.
"With stocks slumping and with treasuries rallying and risks generally rising … investors are withdrawing from the gold market, perhaps as margin calls are made, forcing investors to liquidate precisely when they don’t want to," Andrew Wilkinson, chief economic strategist at Miller Tabak & Co said in a note cited on Reuters.
In other precious metals futures, July silver prices declined 66.3 cents, or 2.2%, to $29.459 an ounce, June palladium prices fell $24.95, or 3.9%, to $622.85 an ounce and July platinum prices declined $21.80, or 1.4%, to $1,508.30 an ounce.
|New York Futures – Bullion Prices|
United States Mint Bullion Coin Sales
Gold American Eagle bullion coins are the story for May, at least through the first eight days of the month. Their sales advanced 6,000 this week already, which puts them at 26,000 for May. The month is currently the third best this year, ahead of last month by 7,000 and above February by 6,000.
The most recent bullion coin totals are offered in the daily, monthly and 2012 sales columns below.
|United States Mint 2012 Bullion Coin Sales|
|1 oz Gold American Eagle||2,500||3,500||26,000||207,000|
|1/2 oz Gold American Eagle||0||0||0||51,000|
|1/4 oz Gold American Eagle||0||0||0||42,000|
|1/10 oz Gold American Eagle||0||0||0||135,000|
|1 oz American Buffalo Gold Coins||1,000||0||1,000||56,500|
|5 oz America the Beautiful Silver Coins||0||0||0||8,000|
|1 oz American Silver Eagle||235,000||0||335,000||11,994,000|
Notes: The sales 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 Monday, April 9, 2012. All other bullion figures have an "as of date" of Tuesday, May 8, 2012, as published on the Mint website.
For a recap of bullion silver coin sales last month, read this American Silver Eagle sales article.
London Bullion Prices
Bullion prices in London fell just as heavily as precious metals futures in New York. The UK markets were closed Monday for the annual May Day holiday, so comparisons below are from Friday to Tuesday.
The following grid offers London PM Fix daily bullion prices with gains and losses over the most recent two-day period as well as for April.
|London Bullion Prices and Their Fixings (PM)|
Refer to this site’s home page for always updated bullion prices and news.