Gold and Silver Prices Close Higher, American Bullion Coins Soar

by Bullion Prices Staff on August 15, 2011

U.S. bullion prices were mixed on Monday, as gold pushed up 0.9%, silver rose a modest 0.5%, platinum was nearly unchanged and palladium retreated 0.2%. In specifics, December gold prices rose $15.40 to $1,758 an ounce on the Comex division of the New York Mercantile Exchange, trading from $1,730.80 to $1,758.60

"I am always worried about a market that appears to have no downside potential," Sean McGillivray, head of asset allocation of Great Pacific Wealth Management, said according to Reuters. "Gold is going to have a bid under it, but trading in the $1,600 area would be a much better buying opportunity for a run and a retest of $1,800."

Gold’s higher close was the first in three sessions, although the metal surged 5.5% last week.

In other New York bullion futures, September silver added 19.3 cents to $39.31 an ounce, September palladium fell $1.85 to $746.35 an ounce, and October platinum added 50 cents to $1,797.20 an ounce.

London Bullion Prices

Bullion prices in London were higher for all but platinum. PM fixing prices included the following daily changes:

  • Gold added $3, or 0.2%, at $1,739 an ounce
  • Silver added 89 cents, or 2.3%, at $39.18 an ounce
  • Palladium added $5, or 0.7%, at $752 an ounce
  • Platinum fell $10, or 0.6%, at $1,790 an ounce

U.S. Mint Bullion Coins

U.S. Mint bullion coins rumbled on Monday. The Mint reported gains across all but one of its American Eagles. Increases were sharpest for the American Silver Eagle. It added 640,500, which brought its August sales to 1.9595 million and its year-to-date sales to 27.231 million.

The 1 oz. American Gold Eagle rallied 19,500, which resulted in August sales of 69,500. In two weeks, the 24-karat gold bullion coins have registered better sales than those from either July or June. (Their monthly numbers came in at 61,500 and 56,000, respectively.)

The above and other bullion coin totals are provided below in the daily, August 2011 and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 4,000 14,500 106,000
1 oz American Gold Eagle 19,500 69,500 638,500
1/2 oz American Gold Eagle 1,000 3,000 61,000
1/4 oz American Gold Eagle 0 4,000 68,000
1/10 oz American Gold Eagle 5,000 40,000 305,000
5 oz America the Beautiful Silver - 8,500 378,600
1 oz American Silver Eagle 640,500 1,959,500 27,231,000


Notes. Figures above are in coins, not ounces sold. The United States Mint last updated 5 oz. America the Beautiful Silver Bullion Coin sales on Monday, August 8, 2011. All other figures have an "as of date" of Monday, August 15, 2011.

For a recap of recent suspensions in U.S. Mint gold coins, read the article: Commemorative Gold Coin Sales Halted.

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