Gold and Silver Prices Rebound, Bullion Gold Eagles Gain

by Bullion Prices Staff on March 30, 2011

U.S. bullion prices advanced as a group Wednesday. Gold marked its first daily increase in five sessions while silver prices surged 1.4% and back above $37 an ounce. Platinum performed the best, soaring 1.7%.

June gold prices closed up $7.40, or 0.5%, to $1,424.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold hit its lowest point at $1,413.10 an ounce and reached it best pricing level at $1,431.70 an ounce.

"It seems that risk is flooding back on. It’s finding its way back into precious metals and the stock markets, and that’s driving the trade higher," Zachary Oxman, managing director of TrendMax Futures, said and was cited on Reuters."

In other metals, May silver prices rallied 52.4 cents to $37.51 an ounce, June palladium ended up $5.15, or 0.7%, to $758.10 an ounce, and July platinum gained $30 to $1,774.10 an ounce.

In comparing London bullion PM fixing prices on Wednesday to those on Tuesday, all metals were higher.

  • Gold rose $8, or 0.6%, to $1,425.50 an ounce
  • Silver advanced 91 cents, or 2.5%, to $37.53 an ounce
  • Palladium added $14, or 1.9%, to $757 an ounce
  • Platinum rose $15, or 0.9%, to $1,760 an ounce

United States Mint Authorized Purchasers limited their money to the 1 oz American Gold Eagle. While other bullion coin levels remained unchanged, sales of Gold Eagles climbed 2,500.

For an analysis of recent silver bullion and numismatic silver coin sales, read the SilverCoinsToday.com article: Silver Eagles Hot, Numismatic Silver Sets and Coins Cool.

Daily, March and 2011 bullion sales figures follow:

2011 U.S. Mint Bullion Coin Sales
  March
2011
Daily
Gain
2011
Totals
1 oz American Gold Buffalo 38,000 0 38,000
1 oz American Gold Eagle 60,500 2,500 263,500
1/2 oz American Gold Eagle 8,000 0 21,000
1/4 oz American Gold Eagle 20,000 0 38,000
1/10 oz American Gold Eagle 40,000 0 160,000
American Silver Eagle 2,767,000 0 12,429,000

Figures above are in coins, not ounces sold.

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: