Gold continued higher Wednesday, adding to gains that began a week ago Monday.
Gold for December delivery edged up $5.30, or 0.3%, to settle at $1,730.10 an ounce on the Comex in New York. Intraday prices ranged between $1,720.50 and $1,734.10.
"With central banks continuing to buy gold around the world and with the macroeconomic environment which is still there, the demand should remain very strong," Bloomberg quoted Jamie Sokalsky, chief executive officer of Toronto-based Barrick Gold Corp. (ABX). "We’re not going to see the reaction on the supply side to make up for that in the industry."
Silver tracked gold. Silver for December delivery surged 39.3 cents, or 1.2%, to $32.880 an ounce, trading between $32.365 and $32.930.
In other precious metals futures prices Wednesday:
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Platinum for January delivery gained $5.20, or 0.3%, to $1,591.60 an ounce, trading between $1,579.20 and $1,603.30.
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Palladium for December delivery rose $4.95, or 0.8%, to $641.55 an ounce, ranging from $634.25 to $649.90.
London Bullion Prices
London precious metals were mixed Wednesday. In contrasting the latest London PM fixings:
- Gold was nearly unchanged with its loss of 50.0 cents to $1,725.75 an ounce,
- Silver lost 10.0 cents, or 0.3%, to $32.48 an ounce,
- Platinum declined $2.00, or 0.1%, to $1,583.00 an ounce, and
- Palladium jumped $26.00, or 4.2%, to $643.00 an ounce
US Bullion Coin Sales in November
Sales advanced Wednesday for U.S. Mint bullion coins composed of gold. The bureau sold a total of 6,000 ounces to its distributors. Splits were 5,500 of American Eagle gold coins and 500 ounces of American Buffalo gold coins. Sales of the Gold Eagles in November are just 11,500 ounces shy of matching the 59,000 ounces sold in October.
Listed below are the latest daily, November and year-to-date bullion sales as provided by the U.S. Mint.
| US Mint American Eagle and Buffalo Bullion Coin Sales | |||
|---|---|---|---|
| Daily Sales | November Sales | YTD 2012 | |
| $50 American Eagle Gold Coins | 5,000 | 44,500 | 509,000 |
| $25 American Eagle Gold Coins | 0 | 1,000 | 64,000 |
| $10 American Eagle Gold Coins | 0 | 2,000 | 68,000 |
| $5 American Eagle Gold Coins | 5,000 | 20,000 | 300,000 |
| $50 American Buffalo Gold Coins | 500 | 6,500 | 114,000 |
| American Silver Eagle Coin | 0 | 2,195,500 | 31,143,500 |
In related American Eagle coin news but on the numismatic front, the U.S. Mint sold out of its 2012-W Proof American Silver Eagle and its 2012-W Uncirculated American Gold Eagle. For more about the Silver Eagle, read this silver coin article. For more about the Gold Eagle, read this coin news article.
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||
|---|---|---|---|
| Daily Sales | November Sales | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 0 | 1,800 | 19,900 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 0 | 1,800 | 20,000 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 500 | 22,300 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 5,000 | 20,000 |
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 2,500 | 15,000 |
| 2011 Olympic National Park 5 oz. Silver Bullion Coins | 0 | 0 | 85,900 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 0 | 39,500 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins | 0 | 0 | 29,700 |
| TOTAL | 0 | 11,600 | 252,300 |
Coin sales listed above are in the number of bullion coins sold, not the amount of ounces.
