Gold declined Tuesday for the first time in three sessions. Gold for April delivery lost $2.90, or 0.2%, to settle at $1,673.50 an ounce on the Comex in New York. The level was nearer the session’s trading low of $1,667.20 an ounce. The high came in at $1,687.00 an ounce.
MarketWatch on Tuesday relayed comments from Adrian Ash, head of research at BullionVault, about gold’s loss.
"It’s no surprise to see gold dropping back as stocks rally again," said Ash. Even so, "independent investors are giving only half-a-cheer to the flood of conflicting economic data," he said, noting that sentiment toward the safe-haven metal eased from December’s 12-month high, according to BullionVault’s Gold Investors Index.
"Savers’ anxiety levels have eased but the need for long-term crisis insurance remains clear and present," Ash added.
U.S. stocks rallied Tuesday following a broad selloff in the previous session.
Unlike gold, silver and the other precious metals advanced Tuesday. Silver for March delivery settled up 15.9 cents, or 0.5%, to $31.875 an ounce. The white metal traded between intraday points of $31.620 to $32.115.
PGM’s are riding a three-session winning streak.
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April Platinum added $9.10, or 0.5%, to $1,707.20 an ounce, trading between $1,687.20 and $1,711.00.
- Palladium for March delivery advanced $7.65, or 1.0%, to $765.45 an ounce, ranging from $745.50 to $769.00.
London Bullion Prices
London precious metals moved higher as well. In contrasting the Monday PM to Tuesday PM Fix prices:
- Gold gained $7.50, or 0.5%, to $1,673.50 an ounce,
- Silver jumped 50.0 cents, or 1.6%, to $32.01 an ounce,
- Platinum climbed $6.00, or 0.4, to $1,702.00 an ounce, and
- Palladium added 7.00, or 0.9%, to $756.00 an ounce
US Bullion Coins
U.S. Mint silver bullion coins made a first appearance on the February sales boards following record levels in January. American Silver Eagles, which are being rationed, went up 675,500. Sales also changed for the bureau’s five ounce silver coins, as seen further below.
The following two tables offer United States Mint bullion coin sales figures for the day, week-to-date and year-to-date.
| American Eagle and Buffalo Bullion Coin Sales | ||||
|---|---|---|---|---|
| Tuesday Sales | Last Week | Week-To-Date | YTD Sales | |
| $50 American Eagle Gold Bullion Coins | 0 | 17,500 | 0 | 124,500 |
| $25 American Eagle Gold Bullion Coins | 0 | 0 | 0 | 17,000 |
| $10 American Eagle Gold Bullion Coins | 0 | 0 | 0 | 24,000 |
| $5 American Eagle Gold Bullion Coins | 0 | 5,000 | 0 | 110,000 |
| $50 American Buffalo Gold Bullion Coins | 0 | 5,500 | 0 | 72,500 |
| American Eagle Silver Coin* | 675,500 | 1,491,000 | 675,500 | 8,173,500 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | ||||
|---|---|---|---|---|
| Tuesday Sales | Last Week | Week-To-Date | All-Time Sales | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 400 | 0 | 400 | 22,300 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 1,000 | 0 | 1,000 | 21,000 |
| 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 | 9,300 | 0 | 104,900 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 2,300 | 0 | 43,500 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins* | -2,260 | 4,260 | -2,260 | 33,400 |
| TOTAL | 0 | 15,860 | 0 | 291,360 |
*The Chickasaw total was adjusted down by -2,260 on Tuesday. Last week on Thursday its sales had trimmed by 40. Such negative adjustments are very atypical in U.S. Mint reported bullion coin sales.
All coin sales above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.
