Gold and Silver Prices Edge Higher, Bullion Coins Unchanged

by Bullion Prices Staff on March 22, 2011

U.S. bullion prices were mixed Tuesday. Gold and silver rose modestly while palladium and platinum fell modestly. Gold futures prices have risen for five straight sessions. Tuesday’s pick-up was the smallest for the yellow metal, however.

April gold futures prices rose $1.20, or 0.1%, to finish at $1,427.60 an ounce on on the Comex division of the New York Mercantile Exchange.

"While the markets, in general, had a calmer disposition Tuesday, the recent unsettling market events of the world have not gone away, nor will they. This is keeping a bid under precious metals market prices and limiting selling interest among traders and investors," wrote Jim Wyckoff of Kitco News. "Don’t be surprised to see new, unexpected and market-moving twists and turns regarding the Middle East and Japan situations, which will continue to be closely eyed by all traders."

Gold prices hit an intraday low of $1,419.50 an ounce and reached as high as $1,432.30 an ounce.

May silver advanced 26.8 cents, or 0.7%, to close at $36.269 an ounce. Silver prices have risen for three straight sessions.

In PGM futures prices, June palladium declined $4.45, or 0.6%, to $737.85 an ounce while April platinum lost $5.50, or 0.3%, to $1,739.40 an ounce.

London bullion prices declined. In comparing PM fixing prices on Tuesday to those on Monday:

  • Gold fell $6, or 0.4%, to $1,426 an ounce
  • Silver declined 21 cents, or 0.6%, to $35.95 an ounce
  • Palladium ended down $4, or 0.5%, to $739 an ounce
  • Platinum lost $5, or 0.3%, to $1,736 an ounce

No American Eagle or Buffalo bullion coins were sold Tuesday, according to the latest available figures from the U.S. Mint. Those daily, March and 2011 bullion coin sales figures follow:

2011 U.S. Mint Bullion Coin Sales
1 oz American Gold Buffalo 31,000 0 31,000
1 oz American Gold Eagle 44,500 0 247,500
1/2 oz American Gold Eagle 4,000 0 17,000
1/4 oz American Gold Eagle 20,000 0 38,000
1/10 oz American Gold Eagle 30,000 0 150,000
American Silver Eagle 2,069,500 0 11,731,500

Figures above are in coins, not ounces sold.

For an analysis of recent bullion and numismatic silver coins sold, read the article: US Mint Sales: 2011 Silver Proof Set Surges.

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