Gold prices rebounded Thursday as the U.S. dollar retreated and on news that ECB President Mario Draghi expects continued weakness in the euro zone economy this year.
Gold for February delivery rallied $22.50, or 1.4%, to $1,678.00 an ounce on the Comex in New York. Gold traded from an intraday low of $1,653.80 to a high of $1,678.80.
"Draghi made it clear that Europe is still on the weaker side, and they will continue to lean towards accommodative policy," Bill O’Neill, a partner at Logic Advisors in Upper Saddle River, New Jersey, said in a telephone interview according to Bloomberg.
Advancing in three of the last four sessions, March silver surged 66.9 cents, or 2.2%, to settle at $30.918 an ounce. Silver prices ranged from $30.255 to $30.950.
PGMs improved for a second straight day:
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Platinum for April delivery settled up $34.30, or 2.1%, to $1,634.30 an ounce. It ranged from $1,594.10 to $1,637.70.
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March palladium closed at $702.20 an ounce, gaining $14.00, or 2.0%. Prices traded between $685.55 and $705.00.
London Bullion Prices
London precious metals fixings were higher as well on Thursday. In contrasting the latest PM Fix prices:
- Gold rose $17.25, or 1.0%, to $1,675.00 an ounce,
- Silver edged up 10.0 cents, or 0.3%, to $30.49 an ounce,
- Platinum rose $28.00, or 1.8%, to $1,621.00 an ounce, and
- Palladium gained $20.00, or 2.9%, to $701.00 an ounce
Sales of US Mint Bullion Coins
Sales of 2013 American Eagle silver coins jumped 345,000. Released on the 7th, January sales of the coins are at 4,632,000 for the third highest monthly total since they debuted in 1986.
All four sizes of 22-karat American Eagle gold coins gained with total ounces up 12,500. January sales are at 86,500 ounces. The only higher months in the past year were November at 136,500 ounces and January 2012 at 127,000 ounces.
24-karat American Buffalo gold coins rallied 9,500 for a new January total of 36,500, which is the highest monthly amount since March 2011 when sales reached 38,000.
Sales figures for other U.S. Mint bullion products follow.
| Sales of US Mint American Eagle and Buffalo Bullion Coins | ||||
|---|---|---|---|---|
| Thursday Sales | Last Week | Week-To-Date Sales | 2013 Sales | |
| $50 American Eagle Gold Bullion Coins | 10,000 | 59,500 | 15,500 | 68,500 |
| $25 American Eagle Gold Bullion Coins | 2,000 | 9,000 | 3,000 | 12,000 |
| $10 American Eagle Gold Bullion Coins | 2,000 | 12,000 | 4,000 | 16,000 |
| $5 American Eagle Gold Bullion Coins | 10,000 | 50,000 | 20,000 | 70,000 |
| $50 American Buffalo Gold Bullion Coins | 9,500 | 14,500 | 22,000 | 36,500 |
| American Eagle Silver Coin* | 345,000 | N/A | 4,632,000 | 4,632,000 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | ||||
|---|---|---|---|---|
| Thursday Sales | Last Week | Week-To-Date Sales | All-Time Sales | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 21,900 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 20,000 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 25,400 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 20,000 |
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 20,000 |
| 2011 Olympic National Park 5 oz. Silver Bullion Coins | 0 | 0 | 5,500 | 91,400 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 0 | 1,500 | 41,000 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins | 0 | 0 | 1,500 | 31,200 |
| TOTAL | 0 | 0 | 8,500 | 270,900 |
Coin sales figures shown above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.
