Bullion Prices Rally, US Mint Last Opportunity Products

by Bullion Prices Staff on October 6, 2011

U.S. gold prices rose for a second session Thursday.  December gold added $11.60, or 0.7%, to $1,653.20 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal hit an intraday low of $1,633.20 an ounce and a high at $1,656.80 an ounce.

"Gold is back to behaving like a classic commodity," Frank Lesh, a trader at FuturePath Trading in Chicago, said in a telephone interview that was recounted on Businessweek. "Physical demand is providing support to gold."

Silver was the best performer in precious metals Thursday with its 5.4% jump. December silver futures prices added $1.65 to $32 an ounce. Palladium closely followed with its own 5% increase. December palladium futures prices ended up $28.45 to $598.80 an ounce. January platinum pulled in last, adding 1.7%, or $25.20, to $1,508.10 an ounce.

London Bullion Prices

London bullion prices rallied stronger than futures in New York, and they ascended as a group after falling as a group on Tuesday and Wednesday. Changes from the Wednesday PM to Thursday PM fixing prices show that:

  • Gold added $18, or 1.1%, to $1,635 an ounce
  • Silver added $3.11, or 10.8%, at $31.80 an ounce
  • Palladium added $39 — it fell by the same amount Wednesday, or 7.1%, to $588 an ounce
  • Platinum added $51, or 3.5%, at $1,495 an ounce

United States Mint Bullion Coins

Demand remains strong for bullion American Silver Eagle coins. The latest United States Mint figures have the bullion coins up another 250,000. That lifts their 2011 total to 34,673,500, marking a new all-time annual record high with still nearly three months left in the year. The old annual sales record of 34,662,500 was set just last year. The Mint reported no other bullion coin gains for the day.

In other United States Mint news, the bureau did provide notice for last chances at 2010 and 2011 products. More than a dozen products, including the 2011 gold and silver commemorative coins, have been given final sales dates.

The latest United States Mint bullion coins sales are provided below in the daily, October 2011 and YTD 2011 columns.

Sales of United States Mint 2011 Bullion Coins
1 oz American Gold Buffalo 0 5,000 137,500
1 oz American Gold Eagle 0 13,500 773,500
1/2 oz American Gold Eagle 0 1,000 63,000
1/4 oz American Gold Eagle 0 2,000 74,000
1/10 oz American Gold Eagle 0 0 345,000
5 oz America the Beautiful Silver not reported 1,900 386,600
1 oz American Silver Eagle 250,000 1,262,000 34,673,500


Notes. Figures above are in coins, not ounces sold. The United States Mint last updated the sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, October 3, 2011. All other figures have an "as of date" of Thursday, October 6, 2011.

Also, for an analysis on recent numismatic and bullion coin performances, read the latest US Mint sales article from CoinCollectingNews.org

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