Gold Prices Up on Week, 5 Ounce Silver Bullion Coins Sold Out

by Bullion Prices Staff on December 13, 2013

Gold, silver and platinum prices advanced this week while palladium prices fell, the exact opposite of their movements last week.

On Friday, gold for December delivery gained $9.70, or 0.8%, to settle at $1,234.60 an ounce on the Comex division of the New York Mercantile Exchange. For the week, gold prices added 0.5%.

The "lack of near-term positive gold-price catalysts and the recovery in the stock markets have prompted holders of the SPDR Gold Trust to liquidate their holdings, which have fallen 39% this year to 827.6 metric tons," analysts at Sharps Pixley said in a daily note. "Expected near-term Fed tapering and the retrenchment of the largest gold consumer, India, due to its government’s import curbs, are the two big factors hurting gold prices this year."

In wrapping up bullion futures on Friday:

  • Silver prices for March delivery added 15 cents, or 0.8%, to settle at $19.60 an ounce.
  • Palladium prices for March delivery declined $4.05, or 0.6%, to close at $716.20 an ounce.
  • Platinum prices for January delivery fell $1.50, or 0.1%, to end at 1,362.90 an ounce.

For the week, silver added 0.4%, platinum added 0.5% but palladium declined 2.7%.

New York bullion prices per day and by the net changes for the week are listed in the table below.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $19.70 $20.32 $20.36 $19.45 $19.60 $0.08
0.4%
Gold Prices $1,234.20 $1,261.10 $1,257.20 $1,224.90 $1,234.60 $5.60
0.5%
Platinum Prices $1,368.50 $1,388.70 $1,385.20 $1,364.40 $1,362.90 $6.60
0.5%
Palladium Prices $735.00 $738.45 $738.55 $720.25 $716.20 -$19.95
-2.7%

 

Sales of United States Mint Bullion Coins

Sales were stronger for most US Mint bullion coins this week. Before summarizing weekly sales, two things are worth noting. First, all of the Mint’s 2013 America the Beautiful 5 oz Silver Bullion Coins sold out this week. New 2014 coins are scheduled for release in late January. Second, this week the Mint offered its final allocation of the 2013 dated America Eagle silver bullion coins. It has not stated whether its authorized distributors order them all but this week’s Silver Eagle sales total was the highest since the end of August. Now, here is a summary of the latest weekly sales totals across all the Mint’s bullion coins:

  • American Eagle gold coins added 12,000 ounces compared to last week’s 20,500 ounces.

  • American Buffalo gold coins rose 4,000 ounces against the previous week’s 1,500 ounces.

  • American Eagle silver coins gained 800,000 versus last week’s 400,000.

  • America the Beautiful 5 oz Silver Bullion Coins climbed by 4,300 after two straight weeks of zero gains.

In the table below are United States Mint bullion sales by day this week and the YTD totals to December 13, 2013.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 2,500 0 3,500 5,000 0 720,000
1/2 oz American Eagle Gold Bullion Coins 0 0 0 0 0 58,000
1/4 oz American Eagle Gold Bullion Coins 4,000 0 0 0 0 122,000
1/10 oz American Eagle Gold Bullion Coins 0 0 0 0 0 535,000
1 oz American Gold Buffalo Bullion Coins 3,000 0 0 1,000 0 237,500
5 oz America the Beautiful Silver Bullion Coins 0 0 4,300 0 0 223,100
1 oz American Eagle Silver Bullion Coins 526,000 0 222,000 25,000 27,000 42,675,000

 

Bullion Prices in London

London bullion fix prices moved mostly lower Friday. In the net dollar and percent changes from the PM fix prices on Thursday to Friday:

  • Gold added $6.75, or 0.6%.
  • Silver declined 25 cents, or 1.3%.
  • Palladium fell $6, or 0.8%.
  • Platinum declined $4, or 0.3%.

Below are the London PM Fix prices for each day this week and the percent and net dollar changes since last Friday:

London Bullion Prices (PM)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $19.50 $20.05 $20.39 $19.80 $19.55 $0.06
0.3%
Gold Prices $1,237.00 $1,266.25 $1,260.75 $1,225.25 $1,232.00 -$1.00
-0.1%
Platinum Prices $1,373.00 $1,393.00 $1,388.00 $1,371.00 $1,367.00 $0.00
0.0%
Palladium Prices $739.00 $743.00 $742.00 $729.00 $723.00 -$18.00
-2.4%

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