Gold advanced 1.2% to settle at a more than three-month high Tuesday, logging a fifth straight day of increases. Gains came on the heels of a weaker U.S. dollar and were further supported by speculation of added stimulus measures.
Gold for December delivery pushed ahead $19.90 to close at $1,642.90 an ounce — the highest settlement price since May 4. The precious metal marked intraday low and high prices of $1,620.80 and $1,643.60.
"There is still an overriding fear that the equities markets have appreciated beyond the point of sustainability so there is a level of fear and desire for diversification into gold," Reuters quoted Jeffrey Sica, chief investment officer at SICA Wealth Management.
"The economic numbers around the world have not proven to justify a recovery without the anticipated liquidity created by central banks," added Sica.
In other major New York precious metals futures prices:
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Silver prices for December delivery soared 83.5 cents, or 2.9%, to settle at $29.428 an ounce. Silver moved between $28.61 and $29.46.
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Platinum for October delivery added $9.60, or 0.6%, to $1,507.80 an ounce, ranging from $1,479.60 to $1,511.00.
- Palladium for September delivery rallied $16.50, or 2.7%, to $624.20 an ounce, ranging from $597.40 to $626.15.
London Precious Metals
Bullion gains in London were higher than precious metals futures in New York. When comparing London PM Fix prices:
- Gold advanced $24.50, or 1.5%, to $1,639.50 an ounce,
- Silver prices surged 82.0 cents, or 2.9%, to $28.92 an ounce,
- Platinum turned up $42.00, or 2.9%, to $1,504.00 an ounce, and
- Palladium tacked on $18.00, or 3.0%, to $616.00 an ounce
Sales of U.S. Mint Bullion Coins
Sales of U.S. Mint bullion coins were unchanged Tuesday following strong gains on Monday. The most recent daily, August and year-to-date bullion sales follow.
| Sales of US Mint American Eagle and Buffalo Bullion Coins | |||
|---|---|---|---|
| Daily Gains | August Gains | YTD 2012 | |
| $50 American Gold Eagle Coins | 0 | 16,500 | 330,000 |
| $25 American Gold Eagle Coins | 0 | 1,000 | 57,000 |
| $10 American Gold Eagle Coins | 0 | 0 | 54,000 |
| $5 American Gold Eagle Coins | 0 | 10,000 | 200,000 |
| $50 American Buffalo Gold Coins | 0 | 5,500 | 84,500 |
| American Silver Eagle Coins | 0 | 2,021,000 | 21,691,000 |
| Sales of America the Beautiful 5 Oz. Silver Bullion Coins | |||
|---|---|---|---|
| Daily Gains | August Gains | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Coins | 0 | 600 | 13,800 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Coins | 0 | 1,100 | 8,500 |
| 2012 Acadia National Park 5 oz. Silver Coins | 0 | 5,200 | 15,100 |
| 2011 Olympic National Park 5 oz. Silver Coins | 0 | 300 | 85,800 |
| 2011 Vicksburg National Military Park 5 oz. Silver Coins | 0 | 100 | 39,200 |
| 2011 Chickasaw Park 5 oz. Silver Coins | 0 | 100 | 29,500 |
| TOTAL | 0 | 7,400 | 191,900 |
All U.S. Mint bullion sales above are in coin totals, not in amount of ounces sold.
