Gold Marks Seven-Straight Session Gains, Silver Prices Up 1%, Eagles Rise

by Bullion Prices Staff on June 22, 2011

U.S. gold futures prices on Wednesday closed above the $1,550 mark, and registered their seventh straight daily advance. August gold prices added $7.00, or 0.5%, to $1,553.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold’s intraday low was $1,542 an ounce. Its highest price came in at $1,559.30 an ounce, which was its best price going back to May 2.

"Given the fact that the Greek crisis continues to be unresolved, and with the U.S. pending debt ceiling limit and its fiscal imbalances, gold is being turned to as a currency where other paper currencies are potentially being debased," Mark Luschini, chief investment strategist at financial services firm Janney Montgomery Scott, said according to Reuters.

July silver prices advanced 36 cents, or 1.0%, to $36.74 an ounce. Silver has registered five straight daily gains.

September palladium added $3.40, or 0.4%, to close at $770.65 an ounce while July platinum advanced $5.20, or 0.3%, to $1,752.40 an ounce.

London Bullion Prices

With the exception of silver which pulled back, London bullion prices moved in the same direction as in New York. London PM fixing prices included the following changes:

  • Gold advanced $7.75, or 0.5%, at $1,552.50 an ounce
  • Silver prices declined 31.0 cents, or 0.9%, at $35.91 an ounce
  • Palladium advanced $6.50, or 0.9%, at $767.50
  • Platinum added $9, or 0.5%, at $1,749 an ounce

U.S. Mint Bullion Coins

Wednesday gains in U.S. Mint bullion coins were seen across all the 1 oz sizes, including the Gold Eagle, Silver Eagle and Gold Buffalo. The Silver Eagle bullion coin held its ground as the top seller, rising 75,000 to over 2.5 million for June. For a closer look at recent U.S. Mint silver coin sales, check out the article which highlights how Silver Eagles are over 21 million this year.

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

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 1,000 2,000 76,000
1 oz American Gold Eagle 2,500 38,500 490,000
1/2 oz American Gold Eagle 0 0 55,000
1/4 oz American Gold Eagle 0 4,000 60,000
1/10 oz American Gold Eagle 0 25,000 240,000
5 oz America the Beautiful Silver 0 0 326,800
1 oz American Silver Eagle 75,000 2.5655M 21.467M

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 June 17. All other sales figures are as of Wednesday, June 22.

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