Gold declined Tuesday for a third straight day as a stronger U.S. dollar curbed the appeal of precious metals.
Gold prices lost $7.20, or 0.4%, to $1,717.70 an ounce in the April futures contract on the Comex in New York. Gold moved from an intraday low of $1,713.80 to a high of $1,729.90.
"We saw gold reacting to the dollar, rallying close to flat this morning, but as the dollar has rallied we’ve seen gold sell off," MarketWatch quoted Tom Essaye, editor of the 7:00’s Report, a daily commentary on equity and commodity markets and the economy.
Silver prices for March delivery fell 37.4 cents, or 1.1%, to $33.348 an ounce, trading between $33.255 and $33.845.
Platinum prices for April delivery declined $21.70, or 1.3%, to $1,628.00 an ounce, moving from $1,624.00 to $1,653.20.
Palladium prices for March delivery ended down $11.30, or 1.6%, to $687.25 an ounce, ranging from $683.10 to $700.50.
London Precious Metals
London precious metals were mixed Tuesday, with gold up $2.00 to $1,722.00 an ounce and the other major metals down. Losses included silver by 33.0 cents to $33.51 an ounce, platinum by $35.00 to $1,628.00 an ounce and palladium by $16.00 to $686.00 an ounce.
U.S. Mint Bullion Coins
U.S. Mint bullion coin sales were unchanged Tuesday, but they did rise later Monday. Previous day gains included 1,500 for the American Gold Eagle; 500 for the American Gold Buffalo; and 25,000 for the American Silver Eagle. The latest U.S. Mint bullion sales figures follow.
| Sales of U.S. Mint American Eagle and Buffalo Bullion Coins | |||
|---|---|---|---|
| Daily Gains | Feb. Gains | YTD 2012 | |
| American Gold Eagles (1 oz.) | 0 | 9,500 | 94,000 |
| American Gold Eagles (1/2 oz.) | 0 | 0 | 49,000 |
| American Gold Eagles (1/4 oz.) | 0 | 2,000 | 40,000 |
| American Gold Eagles (1/10 oz.) | 0 | 0 | 85,000 |
| American Gold Buffalo Coin (1 oz.) | 0 | 2,000 | 15,500 |
| American Silver Eagles | 0 | 735,000 | 6,842,000 |
| Sales of America the Beautiful 5 Oz. Silver Bullion Coins | |||
|---|---|---|---|
| Prior Weekly | Weekly Gains | All-Time Total | |
| Olympic National Park 5 oz. Silver Coin | 0 | 0 | 84,600 |
| Vicksburg National Military Park 5 oz. Silver Coin | 0 | 0 | 37,300 |
| Chickasaw Park 5 oz. Silver Coin | 0 | 0 | 28,100 |
| TOTAL | 0 | 0 | 150,000 |
All bullion coin totals in the above tables are in the number of coins sold, not the amount of ounces. The latest five-ounce sales were provided by the U.S. Mint on Friday, January 27, 2012. The Mint does not publish daily sales figures for its five-ounce silver coins. However, since the last released date is more than two weeks past, there likely has not been new sales to report.
