Bullion Prices Rebound, Sales Muted for American Silver Eagle

by Bullion Prices Staff on April 26, 2012

U.S. bullion prices rebounded Thursday with increases of 1.1% for gold, 2.8% for silver, 2.7% for palladium and 1.5% for platinum. A weaker U.S. dollar and bargain-hunting were among factors analysts offered for gains.

June gold prices climbed $18.20 to settle at $1,660.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold ranged from a low and high $1,642.50 an ounce and $1,662 an ounce, respectively.

"Comex gold futures prices ended the U.S. day session with solid gains Thursday — near the session high and hitting a fresh two-week high. Short covering and bargain-hunting buying interest following recent selling pressure were featured," noted Jim Wyckoff of Kitco Metals. "A weakening U.S. dollar index and firmer crude oil prices were also supportive for the precious metals markets."

In other precious metals futures, May silver prices added 85.1 cents to $31.21 an ounce, June palladium prices gained $17.55 to $672.65 an ounce, and July platinum prices rose $22.90 to $1,570.20 an ounce.

United States Mint Bullion Coin Sales

April is shaping out to be a poor sales month for United States Mint bullion coins. Unless investment demand spikes in the final two business days, monthly sales could track in as the worst of the year for American Eagles.

For a third consecutive day, sales of United States Mint bullion coins were flat without any gains reported. The bullion American Silver Eagle is hurting in particular, having most recently advanced only on Monday and then again way back on the prior Monday. April sales stand at 1.28 million, currently under the slowest American Silver Eagle month which was in February at 1.49 million. Contrast these figures against sales in January which soared to over 6.1 million.

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 Gold Eagle 1,000 0 0 0 16,000 178,000
1/2 oz American Gold Eagle 0 0 0 0 0 51,000
1/4 oz American Gold Eagle 2,000 0 0 0 2,000 42,000
1/10 oz American Gold Eagle 0 0 0 0 5,000 135,000
1 oz American Buffalo Gold Coins 2,000 0 0 0 9,000 55,500
5 oz America the Beautiful Silver Coins 0 0 0 0 200 8,000
1 oz American Silver Eagle 400,000 0 0 0 1,280,000 11,419,000


Notes: The sales 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 figures have an "as of date" of Thursday, April 26, 2012, as published on the Mint website.

In other coin news of the day, the United States Mint provided more details for the upcoming 2012 American Silver Eagle San Francisco Proof Set. The United States Mint will not set a mintage limit for the two-coin set, but instead let demand dictate how many will be produced. However, the set will only be sold between June 7-July 5.

London Bullion Prices

Changes in London bullion prices on Thursday were mostly modest as well as mixed. The following grid offers London PM Fix daily bullion prices with gains and losses over the most recent two-day period.

London Bullion Prices and Their Fixings (PM)
  Mon Tue Wed Thurs Daily Gain
Silver Prices $31.16 $30.86 $30.88 $30.70 -$0.18
Gold Prices $1,629.00 $1,649.50 $1,637.75 $1,653.50 $15.75
Platinum Prices $1,553.00 $1,553.00 $1,551.00 $1,555.00 $4.00
Palladium Prices $666.00 $674.00 $665.00 $659.00 -$6.00


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

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