Gold and Silver Prices at New Highs, Eagle Bullion Coins Maintain

by Bullion Prices Staff on April 6, 2011

U.S. bullion prices continued their move to higher ground on Wednesday. Gold hit a new record and silver prices rose to better levels of 31-year highs.

June gold prices added $6, or 0.4%, to $1,458.50 an ounce on the Comex division of the New York Mercantile Exchange. It was the second day in a row that gold reached a new record high. Prices on the day ranged between $1,452.50 an ounce and $1,463.70 an ounce.

"The fact gold is scoring new all-time highs on a regular basis, while silver is at a three decade high is garnering more general media attention to those metals, which in turn is attracting more investment demand to them," noted Jim Wyckoff of Kitco News. "Don’t be surprised to see bigger daily price moves in gold and silver — both on the upside and on the downside, in the near term. Gold market bulls are now targeting psychological resistance at $1,500 an ounce as their next upside price objective, while silver bulls are close to pushing prices above major psychological resistance at $40 an ounce."

May silver prices ended up 20.4 cents, or 0.5%, to $39.39 an ounce, marking their third day of reaching new 31-year highs. Silver prices ranged between $39.12 an ounce and $39.785 an ounce.

PGM futures prices were mixed. June palladium ended down $8.50, or 1.1%, to $784.60 an ounce and July platinum ended up $1, or 0.1%, to $1,797.80 an ounce.

In comparing London bullion PM fixing prices on Tuesday to those on Monday, precious metals advanced across the board.

  • Gold rose $28, or 2%, to $1,461.50 an ounce
  • Silver prices added $1.55, or 4.1%, to $39.63 an ounce
  • Palladium climbed $13.50, or 1.7%, to $793.50 an ounce
  • Platinum advanced $21, or 1.2, to $1,808 an ounce

It was a repeat day for U.S. Mint bullion coins — one advanced while the others remained unchanged. 1 oz American Eagle Gold bullion coins rose by the same 3,000 level as the previous day. They are now 5,000 shy of reaching 2011 sales of 300,000.

For another perspective of recent American Eagle Silver bullion coin sales for March, read the article 2011 Silver Eagles Post Third Best March. For a take on recent bullion and numismatic coin performances, read the latest article on the latest US Mint coin sales.

The latest published daily, April and 2011 bullion coin sales figures follow:

2011 U.S. Mint Bullion Coin Sales
1 oz American Gold Buffalo 3,000 0 41,000
1 oz American Gold Eagle 31,500 3,000 295,000
1/2 oz American Gold Eagle 0 0 21,000
1/4 oz American Gold Eagle 0 0 38,000
1/10 oz American Gold Eagle 5,000 0 165,000
American Silver Eagle 658,500 0 13,087,500

Figures above are in coins, not ounces sold.

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