Gold Hits Record, Silver Rallies 4.2%, American Gold Eagle Bullion Coins Advance

by Bullion Prices Staff on August 3, 2011

U.S. bullion prices were mixed yet again on Wednesday, as metals moved in the same direction as the previous day. In specifics and in another "again," gold futures achieved a record high for a second straight session, and silver rallied for a second day, gaining 4.2%. Other precious metals declined as palladium lost 3.8% and platinum declined 0.5%.

On the Comex division of the New York Mercantile Exchange, December gold gained $21.80, or 1.3%, to $1,666.30, ranging between $1,654.40 an ounce and $1,675.90 an ounce.

"The current fundamentals in the gold market are supportive of these higher prices," Tom Holl, co-manager of the BlackRock World Resources Fund, was quoted on Reuters. The key factors that have been driving investment demand for gold — concerns about sovereign debt burdens, the long-term value of certain reserve currencies and fear of persistent inflation — are likely to continue for the foreseeable future,"

September silver prices soared $1.67 to $41.76 an ounce. The metal registered intraday prices that ranged from $40.57 an ounce to $42.060 an ounce.

And in PGM futures prices, September palladium dropped $31.80 to $795.10 an ounce while October platinum fell $8.50 to $1,785.00 an ounce.

London Bullion Prices

London bullion prices were split as well. PM fixing prices included the following changes:

  • Gold prices added $31.50, or 1.9%, at $1,669.25 an ounce
  • Silver added $1.31, or 3.3%, at $41.04 an ounce
  • Palladium declined $16, or 1.9%, at $808 an ounce
  • Platinum declined $11, or 0.6%, at $1,782 an ounce

U.S. Mint Bullion Coins

U.S. Mint bullion coins were also mixed, in the sense that the gold ones advanced while the silver ones remained unchanged.

The American Gold Buffalo coin picked up 1,500 to hit 2,000 for July. The biggest mover was the 1/10 oz. American Gold Eagle. It rose 5,000 to 10,000 for the month. The 1 oz. American Gold Eagle came in second with an increase of 4,000 to 7,000 for July.

In related news on American Gold Eagle bullion coins, an analysis of their July performances in relation to past months is now available via The article may be read by following: July sales of American Gold Eagle bullion coin.

The latest U.S. bullion coin figures are shown in the daily, August 2011 and YTD 2011 columns below.

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 1,500 2,000 93,500
1 oz American Gold Eagle 4,000 7,000 576,000
1/2 oz American Gold Eagle 0 1,000 59,000
1/4 oz American Gold Eagle 0 2,000 66,000
1/10 oz American Gold Eagle 5,000 10,000 275,000
5 oz America the Beautiful Silver - 6,700 376,100
1 oz American Silver Eagle 0 258,500 25,530,000


Notes. 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 Monday, August 1. All other figures are as of Wednesday, August 3.

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