Gold Prices Up for 3rd Day, Bullion Silver Eagles Jump 100,000

by Bullion Prices Staff on November 30, 2011

Gold prices extended gains into a third day Wednesday as the U.S. dollar weakened when the Federal Reserve and other central banks joined forces to make borrowing dollars easier in an effort to ease Europe’s debit crisis. February gold prices surged $31.40, or 1.8%, to $1,750.30 an ounce on the Comex division of the New York Mercantile Exchange.¬†Gold ranged from $1,704.30 an ounce to $1,754.70 an ounce.

"You are seeing an enhancement of the loose monetary situation around the world and continued currency devaluation, and that’s what causing the rise in gold today," said Michael Cuggino, portfolio manager of the Permanent Portfolio Funds, according to Reuters.

In other precious metals futures prices, March silver prices added 85.4 cents, or 2.7%, to $32.80 an ounce, March palladium prices rose $28.35, or 4.9%, to $612.60 an ounce and January platinum added $20.10, or 1.3%, to $1,560.80 an ounce.

United States Mint Bullion Coins – Silver Eagles Rise

United States Mint American Silver Eagles were the only bullion coins higher Wednesday. The Silver Eagles jumped 100,000 in one of its best days of the month. The month of November, however, looks like it will close as the weakest month in more than two years. That should be known by Thursday or Friday.

The latest United States bullion figures are provided below in the daily, November 2011 and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales
  Wednesday Gain November 2011 2011 Totals
1 oz American Gold Eagles 0 38,500 844,500
1/2 oz American Gold Eagles 0 0 65,000
1/4 oz American Gold Eagles 0 4,000 82,000
1/10 oz American Gold Eagles 0 15,000 370,000
1 oz American Gold Buffalo 0 8,500 153,500
5 oz America the Beautiful Silver not reported 393,300
1 oz American Silver Eagles 100,000 1,384,000 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 Wednesday, November 30, 2011.

London Bullion Prices

London bullion prices were split for a second consecutive day. From the Tuesday PM to Wednesday PM London fixings:

  • Gold prices added $29, or 1.7%, to $1,746 an ounce,
  • Silver declined 61 cents, or 1.9%, to $31.35 an ounce,
  • Palladium added $38, or 6.5%, to $620 an ounce, and
  • Platinum added $21, or 1.4%, to $1,558 an ounce

Check this site’s bullion prices¬†home page for current metal prices.

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