Gold Prices Up First Time in Seven Weeks, 2013 Eagle Bullion Coins Sprint

by Bullion Prices Staff on January 12, 2013

Gold and silver each notched weekly gains for the first time in seven weeks. That, despite both metals falling in three days out of the last five. Bullion prices were, in fact, up across the board this week. Weekly increases were 0.7% for gold, 1.5% for silver, 1.9% for palladium and 4.7% for platinum.

On Friday, February gold futures declined $17.40, or 1%, to settle at $1,660.60 an ounce on the Comex division of the New York Mercantile Exchange. Uncertainty remains in the cards for the precious metal, market-watchers note.

"It seems the only certain thing one can say about the gold market is that uncertainty has been a hallmark of trading," writes Debbie Carson of Kitco News.

"After climbing on the back of a stronger euro this week, gold prices fell sharply Friday erasing much of the week’s gains in one day, with the market testing the current range within one session. Given the choppy trading action, market participants said they wouldn’t be surprised if next week’s direction was much of the same – range bound."

On a percentage basis Friday, silver lost the most in precious metals. March silver futures dropped 51 cents, or 1.7%, to close at $1,660.60 an ounce.

Platinum-group metals registered modest losses:

  • March palladium prices declined 75 cents, or 0.1%, to settle at $701.45 an ounce, and
  • April platinum prices declined $3.1, or 0.2%, to close at $1,631.20 an ounce

New York bullion prices for every day this week and the net weekly changes follow.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $30.08 $30.47 $30.25 $30.92 $30.41 $0.46
1.5%
Gold Prices $1,646.30 $1,662.20 $1,655.50 $1,678.00 $1,660.60 $11.70
0.7%
Platinum Prices $1,556.30 $1,583.20 $1,600.00 $1,634.30 $1,631.20 $72.70
4.7%
Palladium Prices $670.00 $667.85 $688.20 $702.20 $701.45 $12.95
1.9%

 

Sales United States Mint Bullion Coins

It turned into a monster week for American Eagle silver coins as the 2013-dated versions made their appearance Monday, Jan, 7. Opening-day sales logged a record at 3.937 million. By Friday, the sales total was 4.782 million.

2013 American Eagle gold coins first went on sale Jan. 2, making the big numbers last week. Still, sales were robust this week with total orders of 32,000 ounces.

For a more detailed accounting of American Eagle performances, read about this bullion coin sales article.

In other bullion coins this week, American Buffalo gold coins advanced 22,000 and America the Beautiful Five Ounce Silver Bullion Coins added 45,500 ounces.

Bullion products offered by the United States Mint are listed below. Within the columns are sales by day for the year-to-date.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 4,000 1,500 0 10,000 12,000 80,500
1/2 oz American Eagle Gold Bullion Coins 1,000 0 0 2,000 0 12,000
1/4 oz American Eagle Gold Bullion Coins 2,000 0 0 2,000 0 16,000
1/10 oz American Eagle Gold Bullion Coins 10,000 0 0 10,000 0 70,000
1 oz American Buffalo Gold Bullion Coins 10,500 2,000 0 9,500 0 36,500
5 oz America the Beautiful Silver Bullion Coins 8,500 0 0 0 600 9,100
1 oz American Eagle Silver Bullion Coins 3,937,000 350,000 0 345,000 150,000 4,782,000

 

Notes: Sales of bullion coins above are in the number of coins sold, not the amount of ounces sold.

Bullion Prices in London

London bullion prices split Friday. Net percentage gains were 0.6% for silver and 0.3% for platinum while losses were 1% for gold and 1.1% for palladium.

Daily London Fix prices and the net and percentage changes for the week follow.

London Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $30.14 $30.39 $30.39 $30.49 $30.67 $1.35
4.6%
Gold Prices $1,645.25 $1,656.00 $1,657.75 $1,675.00 $1,657.50 $9.50
0.6%
Platinum Prices $1,551.00 $1,567.00 $1,593.00 $1,621.00 $1,626.00 $69.00
4.4%
Palladium Prices $675.50 $673.00 $681.00 $701.00 $693.50 $4.50
0.7%

 

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