Bullion Prices Mixed as Gold, Silver Decline for 3rd Session

by Bullion Prices Staff on July 21, 2011

U.S. bullion prices were mixed Thursday as gold and silver dropped for a third consecutive session while palladium and platinum gained.

August gold prices retreated $9.90, or 0.6%, to $1,587 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded from a low of $1,585.50 an ounce to a high of $1,605 an ounce. Hints of progress on potential debt deals in the U.S. and Europe pressured the yellow metal.

"Any kind of normalization, either economic or financial policy, is going to have an adverse effect on the gold price," said Mark Luschini, chief investment strategist at Janney Montgomery Scott, according to Reuters. "However, there are still those elements of uncertainty that leave a wrinkle out there for those who are already long gold to not abandon it."

Silver futures declined more in percent terms than gold. September silver fell 61.1 cents, or 1.5%, to $38.95 an ounce.

In PGM futures prices, September palladium rose $15.35, or 1.9%, to $809 an ounce while October platinum added $11.70, or 0.7%, to $1,787.80 an ounce.

London Bullion Prices

London precious metals moved higher across the board, and opposite of the previous day. PM fixing prices included the following changes:

  • Gold rose $15, or 0.9% at $1,601 an ounce
  • Silver added $1.19, or 3.1%, at $39.78 an ounce
  • Palladium rose $10, or 1.3%, at $799 an ounce
  • Platinum added $16, or 0.9%, at $1,780 an ounce

U.S. Mint Bullion Coins

Thursday gains in U.S. Mint bullion products were held to a single coin, the 1 oz. American Gold Eagle. It added 4,000 on the day, taking its weekly total, thus far, to an impressive 12,000.

The latest U.S. Mint bullion coin sales figures are shown in the daily, July 2011 and YTD 2011 columns below.

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 0 8,500 88,000
1 oz American Gold Eagle 4,000 33,500 541,000
1/2 oz American Gold Eagle 0 3,000 58,000
1/4 oz American Gold Eagle 0 0 64,000
1/10 oz American Gold Eagle 0 5,000 255,000
5 oz America the Beautiful Silver 0 11,400 364,500
1 oz American Silver Eagle 0 1,969,500 24.273M


*Notes. Figures above are in coins, not ounces sold. The United States Mint last updated the 5 oz. America the Beautiful Silver Bullion Coin sales on Monday, July 18. All other sales figures are as of Thursday, July 21.

For an analysis on recent U.S. Mint silver product sales, read the SilverCoinsToday.com article about soaring Silver Eagles.

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