Bullion Prices Rally, Sales Start for 2012 Proof American Silver Eagles

by Bullion Prices Staff on April 12, 2012

U.S. bullion prices rallied Thursday. Performance-wise on a percentage basis, gold was the weakest of the precious metals but still with a solid daily gain of 1.2%. Platinum followed directly ahead at 1.4%. Then came palladium at 2.6% and silver leading at 3.2%.

In specific dollar terms, June gold prices added $20.30 to close at $1,680.60 an ounce on the Comex division of the New York Mercantile Exchange. Bullion prices moved between an intraday low and high of $1,651 an ounce and $1,681.30 an ounce.

"Comex gold futures prices ended the U.S. day session with solid gains on short covering and bargain hunting following recent downside price action," wrote Jim Wyckoff of Kitco News. "The bulls did gain some fresh upside near-term technical momentum Thursday. The key ‘outside markets’ were bullish for the precious metals Thursday, as crude oil prices were higher and the U.S. dollar index was solidly lower."

In other New York futures prices, May silver futures soared $1 to $32.53 an ounce while PGM metals were markedly higher as well. June palladium futures gained $16.50 to $653.10 an ounce while July platinum futures added $21.70 to $1,606 an ounce.

United States Mint Bullion Coin Sales

Sales of bullion American Silver Eagles grew by 43,000 Thursday, the only bullion product from the United States Mint to advance on the day. While better than Tuesday’s zero gain, Silver Eagle sales were significantly lower than those reported by the United States Mint on Monday and Wednesday.

The most recent bullion coin totals are offered in the daily, monthly and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed Thurs April 2012 Sales
1 oz American Eagle Gold Coin 500 0 6,000 0 10,000 172,000
1/2 oz American Eagle Gold Coin 0 0 0 0 0 51,000
1/4 oz American Eagle Gold Coin 0 0 0 0 0 40,000
1/10 oz American Eagle Gold Coin 0 0 0 0 5,000 135,000
1 oz American Buffalo Gold Coin 1,000 0 3,000 0 7,000 53,500
5 oz America the Beautiful Silver Coins 200 0   0 200 8,000
1 oz American Silver Eagles 240,000 0 177,000 43,000 780,000 10,919,000

Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, April 9, 2012. All other bullion sales have an "as of date" of Thursday, April 12, 2012, as published on the Mint website.

In other United States Mint news of the day, sales started for the bureau’s 2012-W Proof American Silver Eagles. The popular collectible coins will attain sales of several hundred thousand in a matter of days, based on past releases and how they began. Proof American Silver Eagles are exactly like their bullion counterparts with the exception of their proof finishes which are mirror-like and the presence of a West Point mint mark of ‘W’. As a collector piece, the price tag is also significantly higher at $59.95 per coin.

London Bullion Prices

London bullion prices were mixed yet again with modest changes. The following grid offers London PM Fix daily prices through this week with gains and losses over the most recent two-days.

London Fixings (PM)
  Mon Tue Wed Thurs Daily Gain
Silver Prices N/A $31.55 $31.70 $31.47 -$0.23
Gold Prices N/A $1,644.00 $1,658.00 $1,668.50 $10.50
Platinum Prices N/A $1,605.00 $1,590.00 $1,585.00 -$5.00
Palladium Prices N/A $639.00 $637.00 $641.00 $4.00


Refer to this site’s home page for always updated bullion prices and news.

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