Gold and Silver Prices Gain on Week, US Bullion Coin Sales Rally

by Bullion Prices Staff on October 18, 2013

Gold and silver prices retreated Friday after strong advances on Thursday but they still scored higher than a week ago. PGM prices closed up on the day and the week.

Returning to gold, futures for December delivery settled down $8.40, or 0.6%, to $1,314.60 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices rallied $46.40, or 3.7%, from last Friday when they settled at a three-month low.

Gold’s increase this week, snapping a two-week losing streak, caught many analysts and traders by surprise since weekly surveys published last Friday registered on the bearish side. The biggest gains came on Thursday when gold prices jumped by nearly $41.

"Gold market watchers said after the strong volume see on Thursday, trading activity on Friday was much lighter and several said that might be reflected in a hesitancy to put on positions going into Tuesday’s September jobs report," wrote Debbie Carlson of Kitco News.

Silver prices dipped slightly Friday with the December contract down 3 cents, or 0.15% to close at $21.91 an ounce. The white metal advanced 65 cents, or 3.1%, for the week.

In PGM futures on Friday:

  • Palladium prices for December delivery added $2.85, or 0.4%, to close at $740.65 an ounce.
  • Platinum prices for January delivery added $2.90, or 0.2%, to settle at $1,437.80 an ounce.

New York bullion futures prices per day and by the net changes for the week are listed in the table below.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $21.35 $21.19 $21.37 $21.95 $21.91 $0.65
3.1%
Gold Prices $1,276.60 $1,273.20 $1,282.30 $1,323.00 $1,314.60 $46.40
3.7%
Platinum Prices $1,383.50 $1,383.40 $1,398.20 $1,434.90 $1,437.80 $62.20
4.5%
Palladium Prices $715.25 $706.30 $713.55 $737.80 $740.65 $27.35
3.8%

 

October Sales of United States Mint Bullion Coins

Weekly US Mint bullion sales rose sharply compared to the last two weekly levels that were rather similar. In weekly comparisons and monthly figures:

  • American Eagle gold coins jumped 13,000 ounces versus the previous weekly total of 8,500 ounces. Sales for the month-to-date are at 25,000 ounces, which is almost double the last two months combined.

  • American Buffalo gold coins gained 6,500 versus the 1,500 ounce from the prior week. Sales for October are at 12,500 coins. Totals for September and August were lower at 10,000 each.

  • American Eagle silver coins jumped 800,000 compared to 700,000. This week’s total is the highest since the final week in August. The bullion coins are at 1,687,000 for October. The silver coins are near 38M for the year, on track for a new annual record.

  • America the Beautiful 5 oz bullion silver coins did not advance this week. Last week they rose by 600 coins or 3,000 ounces. 6,000 coins have sold so far in October.

In the table below are US Mint bullion sales by day this week and the YTD totals to October 18, 2013.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 0 9,500 1,000 1,000 500 627,000
1/2 oz American Eagle Gold Bullion Coins 0 0 0 0 0 54,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 0 106,000
1/10 oz American Eagle Gold Bullion Coins 0 5,000 0 0 5,000 485,000
1 oz American Gold Buffalo Bullion Coins 0 4,000 1,000 1,000 500 212,500
5 oz America the Beautiful Bullion Silver Coins 0 0 0 0 0 179,100
1 oz American Eagle Bullion Silver Coins 0 749,500 0 0 50,500 37,775,000

 

Bullion Prices in London

London bullion fixings mixed it up slightly on Friday with gold easing and other metals gaining. In the net dollar and percentage changes from the PM fixings on Thursday to Friday:

  • Gold slipped $2.75, or 0.2%
  • Silver added 15 cents, or 0.7%
  • Palladium added $14, or 1.9%
  • Platinum added $18, or 1.3%

Below are the London PM fix prices for each day this week and the percent and net dollar changes over last Friday:

London Bullion Prices (PM)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $21.52 $20.49 $21.32 $21.72 $21.87 $0.35
1.6%
Gold Prices $1,285.50 $1,270.50 $1,273.50 $1,319.25 $1,316.50 $51.00
4.0%
Platinum Prices $1,379.00 $1,372.00 $1,392.00 $1,420.00 $1,438.00 $69.00
5.0%
Palladium Prices $715.00 $707.00 $708.00 $723.00 $737.00 $25.00
3.5%

 

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