Gold Gains, Silver Prices Rise 1.9%

by Bullion Prices Staff on June 14, 2011

U.S. bullion prices were mixed Tuesday after falling as a group during the previous session. Gold and silver were the standouts, rising as palladium and platinum fell. August gold prices rose $8.80, or 0.6%, to $1,524.40 an ounce on the Comex division of the New York Mercantile Exchange, ranging between $1,512.80 an ounce and $1,524.90 an ounce.

"The worst fears of the economic data has been discounted. There is more risk appetite out there, and some of that money is flowing into the precious metals," said Bill O’Neill, partner of commodities investment firm LOGIC Advisors, according to Reuters.

In other bullion prices, July silver rose 67.4 cents, or 1.9%, to $35.41 an ounce, September palladium fell $7.60, or 0.9%, to $792.75 an ounce, and July platinum fell $11.90, or 0.7%, to settle at $1,794.90 an ounce.

London Bullion Prices

London bullion prices were all lower. PM fixing price changes follow:

  • Gold fell $10.25, or 0.7% at $1,516 an ounce
  • Silver declined 83 cents, or 2.3%, at $34.68 an ounce
  • Palladium fell $12, or 1.5%, at $794
  • Platinum declined $19, or 1%, at $1,796 an ounce

No changes were reported by United States Mint for its bullion coins. In silver news related to the Mint, the agency said it would begin selling the September 11 National Medal on Monday, June 20. The one-ounce, .999 fine silver coin which commemorates the 10th anniversary of the September 11 terrorist attacks at the World Trade Center in New York will be available at noon Eastern Time. The Mint (http://www.usmint.gov/) will offer them for an introductory price of $56.95.

Daily, June 2011 and YTD 2011 bullion sales are shown in the table below:

United States Mint 2011 Bullion Coin Sales
Daily
Gains
June
2011
2011
Totals
1 oz American Gold Buffalo 0 0 74,000
1 oz American Gold Eagle 0 29,500 481,000
1/2 oz American Gold Eagle 0 0 55,000
1/4 oz American Gold Eagle 0 0 56,000
1/10 oz American Gold Eagle 0 20,000 235,000
5 oz America the Beautiful Silver 0 0 326,800
1 oz American Silver Eagle 0 1,617,000 20.5185M

Figures above are in coins, not ounces sold. The United States Mint last updated the 5 oz America the Beautiful Silver Bullion Coin sales on May 26. All other sales figures are as of Tuesday, June 14.

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