Gold Prices Bounce, Silver Eagle Bullion Coins Rise

by Bullion Prices Staff on September 27, 2011

U.S. bullion prices bounced higher Tuesday, recovering from several days of heavy losses. December gold prices rallied $57.70, or 3.6%, to $1,652.50 an ounce on the Comex division of the New York Mercantile Exchange. The gain was gold’s best since August 8 and snaps four straight session losses that had totaled more than $210.

"Over the last several days, we have gone back to the traditional dollar positive, gold negative relationship. With the dollar under significant pressure today, it has driven buying back into gold," said David Meger, director of metals trading at Vision Financial Markets, according to Reuters.

In other precious metals, December silver prices rallied $1.56, or 5.2%, to $31.54 an ounce, December palladium prices added $22.55, or 3.6%, to $649.95 an ounce and October platinum prices rose $27.10, or 1.8%, to $1,574.00 an ounce.

London Bullion Prices

London bullion prices were split Tuesday. Changes from the Monday PM to Tuesday PM fixing prices show that:

  • Gold added $61, or 3.8%, to $1,659 an ounce
  • Silver rose $5.34, or 19%, at $33.50 an ounce
  • Palladium added $8, or 1.3%, to $647 an ounce
  • Platinum declined $2, or 0.1%, at $1,568 an ounce

United States Mint Bullion Coins

Sales of American Silver Eagle bullion coins have been on fire of late. September was looking to be a slow month, but demand picked up as coin prices retreated due to falling precious metals. Recent Silver Eagle advances include 100,000 on Tuesday, 1.025 million on Monday, and 850,000 on Friday. With those additions, September’s Silver Eagle tally is now over 3.42 million, which already makes it the 8th best month of all-time.

1 oz. American Gold Eagle bullion coins have been hot as well. Recent daily gains have been along the level of many weekly increases. The latest gains on Tuesday added up to 10,000, bringing September sales to 72,000.

Before getting to the updated bullion stats, there are two United States Mint news items of note — new silver product suspensions and the latest sales to include the debuting numbers for the recently issued collector Gettysburg 5 oz. silver coin. Articles on the subjects may be read by following the links:

The latest United States Mint bullion sales are provided below in the daily, September 2011 and YTD 2011 columns.

Sales of United States Mint 2011 Bullion Coins
1 oz American Gold Buffalo 0 10,000 129,500
1 oz American Gold Eagle 10,000 72,000 744,500
1/2 oz American Gold Eagle 0 1,000 62,000
1/4 oz American Gold Eagle 0 2,000 72,000
1/10 oz American Gold Eagle 0 20,000 340,000
5 oz America the Beautiful Silver not reported 1,900 382,800
1 oz American Silver Eagle 100,000 3,425,500 32,376,500


Notes. Figures above are in coins, not ounces sold. The United States Mint last updated the sales of 5 oz. America the Beautiful Silver Bullion Coins on Monday, September 26, 2011. All other figures have an "as of date" of Tuesday, September 27, 2011.

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