Bullion Prices Mixed in First Week of Sept, US Coin Sales Soften

by Bullion Prices Staff on September 7, 2013

Bullion prices advanced as a group Friday but were mixed in the first week of September with all but silver lower.

Gold prices for December delivery on Friday gained $13.50, or 1%, to settle at $1,386.50 an ounce on the Comex division of the New York Mercantile Exchange. It ended the week 0.7% lower than its close in August.

"Two factors will affect the gold market next week: the debate over what the Federal Reserve might do with its bond-buying program, and the debate Congress has regarding a possible military strike at Syria," notes Debbie Carlson of Kitco News.

In the Kitco News Gold Survey, out of 36 participants, 20 responded this week. Of those 20 participants, 13 see prices up, while six see prices down and one is neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts."

Silver was the only precious metal to rise Friday and for the week. Silver for December delivery on Friday jumped 64 cents, or 2.7%, to finish at $23.89 an ounce. That brought the white metal into the black for the week with a 1.6% increase.

In rounding out the precious metals complex on Friday:

  • December palladium futures gained $9.65, or 1.4%, to settle at $696.85 an ounce
  • October platinum futures rose $13.60, or 0.9%, to $1,495.70 an ounce

Palladium’s increase was the first one in seven trading days. Weekly losses for the two precious metals totaled to 3.7% for palladium and 2.1% for platinum.

New York bullion futures prices per day and by the net changes for the week are listed in the table below. U.S. markets were closed Monday for the Labor Day holiday.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices - $24.43 $23.42 $23.26 $23.89 $0.38
1.6%
Gold Prices - $1,412.00 $1,390.00 $1,373.00 $1,386.50 -$9.60
-0.7%
Platinum Prices - $1,538.20 $1,494.70 $1,482.10 $1,495.70 -$31.40
-2.1%
Palladium Prices - $717.95 $698.25 $687.20 $696.85 -$27.00
-3.7%

 

September Sales of United States Mint Bullion Coins

Demand for US Mint bullion coins retreated in the opening September week from the final August week. (Read about just silver coin sales in August or about all bullion coin sales in August.) Contrasting bullion sales between the most recent two weeks:

  • American Eagle gold coins increased by 1,500 ounces compared to the previous weekly total of 4,500 ounces.

  • American Buffalo gold coins advanced 500 versus the prior weekly total of 1,500.

  • American Eagle silver coins gained 675,000 against 1,179 million from the prior week. The bullion coins remain on track for a record year with 2013 sales of 33.75 million.

  • America the Beautiful 5 oz bullion silver coins increased 500 compared to their previous weekly total of 15,600. All sales this week were from the 5 oz. coin depicting Fort McHenry National Monument and Historic Shrine, which was introduced last week.

United States Mint bullion coin sales by day for this week and the totals for the year through to September 6, 2013 are listed below.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 0 0 1,000 0 0 597,500
1/2 oz American Eagle Gold Bullion Coins 0 0 1,000 0 0 49,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 0 100,000
1/10 oz American Eagle Gold Bullion Coins 0 0 0 0 0 455,000
1 oz American Gold Buffalo Bullion Coins 0 0 500 0 0 190,500
5 oz America the Beautiful Bullion Silver Coins 0 0 500 0 0 150,700
1 oz American Eagle Bullion Silver Coins 0 0 675,000 0 0 33,750,000

 

Bullion Prices in London

London bullion fixings split Friday and fell in unison for the week. In dollar and percentage changes from the PM fix prices on Thursday to Friday:

  • Gold added $2, or 0.1
  • Silver dropped 47 cents, or 2%
  • Palladium gained $10, or 1.5%
  • Platinum rose $11, or 0.7%

London PM fix prices for every day on the week and the weekly percent and net dollar changes are listed below.

London Bullion Prices (PM)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $23.97 $24.21 $23.71 $23.52 $23.05 -$0.59

-2.5%
Gold Prices $1,392.25 $1,399.50 $1,390.00 $1,385.00 $1,387.00 -$7.75

-0.6%
Platinum Prices $1,524.00 $1,529.00 $1,496.00 $1,487.00 $1,498.00 -$16.00

-1.1%
Palladium Prices $724.00 $724.00 $699.00 $689.00 $699.00 -$28.00
-3.9%

 

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