Gold and silver prices retreated for a second straight day Tuesday as the U.S. dollar rebounded from early weakness.
Gold for December delivery on the Comex in New York settled at $1,742.30 an ounce, falling $7.30 or 0.4%. Prices on the day bracketed a $1,741.20 low and $1,751.90 high.
"Gold and silver markets saw more mild profit taking and downside corrective technical action," noted Jim Wyckoff in the PM Kitco Metals Roundup.
"A firmer U.S. dollar index was also a bearish outside market force working against the precious metals Tuesday."
A higher U.S. dollar generally makes it more expensive for holders of other currencies to purchase commodities like gold.
December silver prices declined 15.6 cents, or 0.5%, to close at $33.981 an ounce. Prices traded between $33.910 and $34.275.
Platinum and palladium bucked the trend of gold and silver. On Tuesday:
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Platinum for January delivery settled up $7.50, or 0.5%, to $1,618.50 an ounce, ranging from $1,611.10 to $1,623.00.
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Palladium for December delivery surged $7.00, or 1.1%, to $668.20 an ounce, trading between $663.05 and $672.30.
Bullion Prices in London
London bullion prices were mixed Tuesday, moving in the same direction as precious metals futures in New York. In contrasting the most recent PM fixings:
- Gold fell $4.25, or 0.2%, to $1,746.25 an ounce,
- Silver declined 3.0 cents, or less than 0.1%, to $34.05 an ounce,
- Platinum added $6.00, or 0.4%, to $1,619.00 an ounce, and
- Palladium gained $2.50, or 0.4%, to $670.00 an ounce
Sales of US Mint Bullion Coins in November
Sales levels for U.S. Mint bullion products were unchanged Tuesday following robust gains in the previous day. A breakdown of U.S. Mint sales by bullion coin is provided in the tables below.
| US Mint American Eagle and Buffalo Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Week-To-Date | November Sales | YTD 2012 | |
| $50 American Eagle Gold Coins | 0 | 10,000 | 8,000 | 69,500 | 534,000 |
| $25 American Eagle Gold Coins | 0 | 0 | 0 | 3,000 | 66,000 |
| $10 American Eagle Gold Coins | 0 | 0 | 0 | 4,000 | 70,000 |
| $5 American Eagle Gold Coins | 0 | 10,000 | 5,000 | 35,000 | 315,000 |
| $50 American Buffalo Gold Coins | 0 | 2,000 | 500 | 10,500 | 118,000 |
| American Silver Eagle Coin | 0 | 394,000 | 400,000 | 3,059,500 | 32,007,500 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Week-To-Date | November Sales | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 1,800 | 19,900 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 1,800 | 20,000 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 0 | 3,100 | 3,600 | 25,400 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 5,000 | 20,000 |
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 3,600 | 1,400 | 7,500 | 20,000 |
| 2011 Olympic National Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 85,900 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 39,500 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 29,700 |
| TOTAL | 0 | 3,600 | 4,500 | 19,700 | 260,400 |
Bullion sales above are in the number of coins sold, not the amount of ounces.
