Gold fell for a second straight session and to a six-month low Thursday as the U.S. dollar firmed on disappointing euro zone GDP figures.
Gold for April delivery declined $9.60, 0.6%, to $1,635.50 an ounce on the Comex in New York. Gold traded between $1,632.80 and $1,650.00. The settlement price was the lowest since August 20, reports MarketWatch.
"The combination of (poor) European and Japanese economic numbers is near-term bearish for gold. There’s no real threat of inflation. Gold does not like recessions at all. There is some concern that the (economic weakness) will spread to the U.S. and that’s a valid concern as we do not have all that strong growth," said Sterling Smith, futures specialist, Citibank Institutional Client Group.
The gross domestic product, or GDP, in the 17-nation euro area shrank 0.6% in the fourth quarter. Also in the news, Japan’s growth for 2012 was a worse-than-expected at 1.9%.
In percentage, silver fell the most among precious metals. Silver for March delivery dropped 51.6 cents, or 1.7%, to $30.353 an ounce. It ranged from an intraday low of $30.21 to a high of $31.06.
In PGM futures prices Thursday:
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Snapping a two-day winning streak, April platinum lost $18.80, or 1.1%, to $1,710.90 an ounce, trading between $1,709.40 and $1,735.00.
- Off for the first time in four days, palladium for March delivery shed $8.00, or 1.0%, to $764.05 an ounce. Palladium ranged from $762.60 to $772.50.
Bullion Prices in London
On Wednesday, gold was the only precious metal to climb in London. On Thursday, it was the single one to rise. In contrasting the Wednesday PM to Thursday PM Fix prices:
- Gold added $1.00, or 0.1%, to $1,646.00 an ounce,
- Silver fell 15.5 cents, or 0.5%, to $30.88 an ounce,
- Platinum dipped $6.00, or 0.3, to $1,724.00 an ounce, and
- Palladium lost $3.00, or 0.4%, to $770.00 an ounce
US Bullion Coin Sales in February
U.S. Mint sales levels for its bullion coins remained unchanged Thursday. The latest available figures follow.
| American Eagle and Buffalo Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Thursday Sales | Last Week | Week-To-Date | Feb Sales | YTD Sales | |
| $50 American Eagle Gold Bullion Coins | 0 | 31,000 | 3,000 | 34,000 | 158,500 |
| $25 American Eagle Gold Bullion Coins | 0 | 1,000 | 0 | 1,000 | 18,000 |
| $10 American Eagle Gold Bullion Coins | 0 | 4,000 | 0 | 4,000 | 28,000 |
| $5 American Eagle Gold Bullion Coins | 0 | 20,000 | 5,000 | 25,000 | 135,000 |
| $50 American Buffalo Gold Bullion Coins | 0 | 1,000 | 1,000 | 2,000 | 74,500 |
| American Eagle Silver Coins | 0 | 979,500 | 629,000 | 1,608,500 | 9,106,500 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||||
|---|---|---|---|---|---|
| Thursday Sales | Last Week | Week-To-Date | Feb Sales | All-Time Sales | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 0 | 400 | 100 | 500 | 22,400 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 0 | 1,000 | -400 | 600 | 20,600 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 25,400 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 20,000 |
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 20,000 |
| 2011 Olympic National Park 5 oz. Silver Bullion Coins | 0 | 0 | 0 | 0 | 104,900 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 200 | 2,000 | 2,200 | 45,700 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins | 0 | -2,060 | 2,000 | -60 | 35,600 |
| TOTAL | 0 | -460 | 3,700 | 3,240 | 294,600 |
The Chaco Culture silver coin total moved down 400 on Monday. The Chickasaw silver coin total last Tuesday was adjusted lower by 2,260. The week earlier its sales had trimmed by 40. Such negative adjustments are very atypical in U.S. Mint reported bullion coin sales.
All bullion figures above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.
