Gold Prices Trade Lower, Silver High and American Bullion Coin Sales Muted

by Bullion Prices Staff on March 13, 2012

U.S. gold prices traded slightly lower Tuesday as the U.S. dollar gained strength following news provided from the Fed’s latest FOMC statement which was considered somewhat bearish — inflation subdued, no signs of another round of monetary easing, etc. Gold prices for April delivery dipped $5.60, or 0.3%, to $1,694.20 an ounce on the Comex division of the New York Mercantile Exchange.

"The key ‘outside markets’ were neutral to mildly bearish for the precious metals markets Tuesday, as the U.S. dollar index was firmer, but crude oil prices were also firmer," writes Jim Wyckoff of Kitco. "Traders were awaiting Tuesday afternoon’s statement following the FOMC meeting of the U.S. Federal Reserve, which turned out to be just bit bearish for the precious metals."

In other New York futures prices for precious metals, May silver futures rose 16.8 cents, or 0.5%, to $33.58 an ounce, June palladium futures climbed $4.60, or 0.7%, to $708.85 an ounce and April platinum futures added $6.10, or 0.4%, to $1,701.80 an ounce.

United States Mint Bullion Coin Sales

No bullion coin sales were reported by the United States Mint on Tuesday but the bureau did indicate there were 5 oz. bullion coin and American Eagle — gold and silver — bullion coin sales on Monday. These are shown in the below daily, monthly and 2012 columns.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Mar 2012 Sales
1 oz American Gold Eagle 2,000 0 20,500 125,000
1/2 oz American Gold Eagle 0 0 0 49,000
1/4 oz American Gold Eagle 0 0 0 40,000
1/10 oz American Gold Eagle 0 0 5,000 95,000
1 oz American Gold Buffalo 0 0 12,000 32,500
5 oz America the Beautiful Silver Coins 900 0 1,400 7,400
1 oz American Eagle Silver Coins 320,000 0 1,065,000 8,662,000


Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Coins on Monday, March 12, 2012. All other bullion sales have an “as of date” of Tuesday, March 13, 2012, as published on the U.S. Mint website.

In news about recent or upcoming American coins, the following articles are of note:

The first article provides the debuting sales for the 2012 Star-Spangled Banner Commemorative Coins which the United States Mint released on Monday, March 5. The second article discusses the upcoming Thursday, March 15, release of the collector American Buffalo Gold coin.

London Bullion Prices

London bullion prices split directions Tuesday. The following table offers this week’s London PM Fix prices as well as the latest daily PM changes.

London Fixings (PM)
  Mon Tue Daily Gain
Silver Prices $33.77 $33.58 -$0.19
Gold Prices $1,697.50 $1,690.00 -$7.50
Palladium Prices $704.00 $701.00 -$3
Platinum Prices $1,687.00 $1,691.00 $4


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

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