Gold Prices Up on Week, US Bullion Sales Higher

by Bullion Prices Staff on November 16, 2013

Gold prices ended 0.2% higher than a week ago, their first weekly advanced in three. Gold for December delivery added $1.10, or 0.1%, to settle at $1,287.40 an ounce on the Comex division of the New York Mercantile Exchange.

The precious metal turned positive Thursday, after five daily losses, on speculation that the Fed would keep its stimulus going.

"The gold market has traded in a range, with $1,250 an ounce for support and roughly $1,350 as a ceiling, and some market watchers say gold may continue to ping-pong between those levels," noted Debbie Carlson of Kitco News.

"Whether gold breaks out of that range depends on the direction of the U.S. dollar and further sentiment about the fate of the Federal Reserve’s quantitative easing program, they add. The first hurdle gold needs to jump is a ‘decisive close’ over $1,300, said a market strategist."

In rounding out the precious metals complex on Friday:

  • Silver prices for December delivery inched up a half penny to close at $20.73 an ounce.
  • Palladium prices for December delivery declined $7.15, or 1%, to settle at $732.65 an ounce.
  • Platinum prices for January delivery fell $5.20, or 0.4%, to close at 1,438.90 an ounce.

New York bullion futures 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 $21.28 $20.78 $20.44 $20.72 $20.73 -$0.59
-2.8%
Gold Prices $1,281.10 $1,271.20 $1,268.40 $1,286.30 $1,287.40 $2.80
0.2%
Platinum Prices $1,432.40 $1,439.60 $1,432.00 $1,444.10 $1,438.90 -$4.00
-0.3%
Palladium Prices $754.55 $742.35 $735.45 $739.80 $732.65 -$25.25
-3.3%

 

Sales of United States Mint Bullion Coins

Demand picked up for United States Mint bullion coins. Here is a summary of the latest weekly and monthly bullion sales totals:

  • American Eagle gold coins added 11,500 ounces, or 2,500 more than last week. Sales through the first half of November are at 23,000 ounces.

  • American Buffalo gold coins rallied 5,000 to add to last week’s 1,000 for a monthly total of 6,000.

  • American Eagle silver coins added 500,000 for a second week, bringing their November tally to 1 million. The coins scored a record on Tuesday with year-to-date sales of 40,175,000.

  • America the Beautiful 5 oz bullion silver coins soared 20,700 compared to last week’s 7,000.

In the table below are US Mint bullion sales by day this week and the YTD totals to November 15, 2013.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 0 6,000 4,000 0 0 666,500
1/2 oz American Eagle Gold Bullion Coins 0 1,000 0 0 0 57,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 0 116,000
1/10 oz American Eagle Gold Bullion Coins 0 10,000 0 0 0 515,000
1 oz American Gold Buffalo Bullion Coins 0 4,000 1,000 0 0 224,000
5 oz America the Beautiful Bullion Silver Coins 0 20,700 0 0 0 207,400
1 oz American Eagle Bullion Silver Coins 0 500,000 0 0 0 40,175,000

 

Bullion Prices in London

London bullion prices were mixed Friday and on the week with only gold rising for both. In the net dollar and percent changes from the PM fixings on Thursday to Friday:

  • Gold added $1.25, or 0.1%.
  • Silver fell 15 cents, or 0.7%.
  • Palladium declined $9, or 1.2%.
  • Platinum fell $13, or 0.9%.

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 $21.40 $21.10 $20.70 $20.78 $20.64 -$1.07
-4.9%
Gold Prices $1,282.50 $1,281.25 $1,272.50 $1,286.00 $1,287.25 $1.75
0.1%
Platinum Prices $1,430.00 $1,437.00 $1,438.00 $1,451.00 $1,438.00 -$8.00
-0.6%
Palladium Prices $749.00 $746.50 $740.00 $738.00 $729.00 -$28.00
-3.7%

 

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: