Gold and silver on Monday rebounded from the previous session in which the metals tumbled to two-month lows.
Gold for December delivery added $8.00, or 0.5%, to $1,683.20 an ounce on the Comex in New York. Prices marked intraday low and high levels of $1,672.50 and $1,686.20.
"Comex gold prices ended the U.S. day session moderately higher Monday, on some short covering and bargain hunting buying interest following Friday’s big sell off," noted Jim Wyckoff in the P.M. Kitco Metals Roundup. "Gains in gold Monday were somewhat limited by a stronger U.S. dollar index that hit a fresh two-month high overnight," Wyckoff added.
On Friday amidst election nervousness and a U.S. dollar that closed to a seven-week high, gold declined 2.4% to its lowest settlement price since August 30.
Tracking gold, silver for December delivery advanced 27.1 cents, or 0.9%, to $31.128 an ounce after plunging 4.3% Friday and to its lowest closing price since August 30. Silver on the day traded between $30.655 and $31.255.
The only precious metal to decline, platinum for January delivery lost $2.20, or 0.1%, to $1,542.70 an ounce. Prices ranged from $1,538.30 to $1.553.40.
Palladium for December delivery closed at $603.00 an ounce, rising $3.35 or 0.6%. Palladium traded between $596.05 and $609.90.
Precious metals losses last week included 2.1% for gold, 3.7% for silver and 0.1% for platinum. Palladium was an outlier, climbing 0.7%.
London Bullion Prices
Prices declined in London precious metals. When comparing the most recent London PM fixings:
- Gold dipped $1.50, or 0.1%, to $1,683.50 an ounce,
- Silver plummeted $1.01, or 3.2%, to $30.91 an ounce,
- Platinum shed $8.00, or 0.5%, to $1,544.00 an ounce, and
- Palladium fell $10.00, or 1.6%, to $598.00 an ounce
Last week in London silver advanced 0.8% and palladium added 0.7% while gold declined 1.8% and platinum fell 0.6%.
U.S. Mint Bullion Coin Sales in November
U.S. Mint sales data shows advances for bullion American Eagle coins. The bureau’s one-ounce American Eagle gold coins climbed 2,500 while its American Eagle silver coins surged 800,000. The single day of Silver Eagle gains was higher than each of the past four weekly sales totals.
The following table provides the most recent daily, November and year-to-date bullion sales figures as published by the U.S. Mint.
| US Mint American Eagle and Buffalo Bullion Coin Sales | |||
|---|---|---|---|
| Daily Sales | November Sales | YTD 2012 | |
| $50 American Gold Eagle Coin | 2,500 | 18,500 | 483,000 |
| $25 American Gold Eagle Coin | 0 | 0 | 63,000 |
| $10 American Gold Eagle Coin | 0 | 0 | 66,000 |
| $5 American Gold Eagle Coin | 0 | 0 | 280,000 |
| $50 American Buffalo Gold Coins | 0 | 0 | 107,500 |
| American Eagle Silver Coins | 800,000 | 1,000,000 | 29,948,000 |
| 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 | 1,250 | 19,350 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 0 | 1,250 | 19,450 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 0 | 21,800 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 0 | 15,000 |
| 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 | 5,000 | 245,700 |
In coin news for collectors, the U.S. Mint on Monday released the last 2012-dated silver coin from the America the Beautiful 5 Ounce Silver Uncirculated Coin series. Depicting Denali National Park and Preserve in Alaska, the 99.9% fine silver coin is available at the U.S. Mint website (www.usmint.gov) for $229.95.
