Gold Prices Decline 0.5%, Silver and US Bullion Coin Sales Up

by Bullion Prices Staff on April 3, 2012

U.S. gold prices lost $7.70 Tuesday, wiping away all but 10 cents from the previous day of gains. June gold prices declined 0.5% to $1,672 an ounce on the Comex division of the New York Mercantile Exchange. Gold touched an intraday low of $1,653.50 an ounce and reached a high of $1,682.70 an ounce. It was the lone precious metal to fall on the day.

"Physical demand isn’t extremely robust, as a lot of people are waiting to see if they can buy at lower prices," Matthew Zeman, a strategist at Kingsview Financial in Chicago, said in a telephone interview relayed on Bloomberg. "The dollar is also firm, so I think we’ll see more downward pressure on gold today."

In other New York bullion futures, May silver prices added 16.7 cents, or 0.5% to $33.27 an ounce, June palladium prices gained 80 cents, or 0.1%, to $659.60 an ounce, and July platinum prices rose $5.60, or 0.3%, to $1,660.50 an ounce.

United States Mint Bullion Coin Sales

United States bullion coin sales advanced on Monday and Tuesday. Combined for both days, the American Eagle Silver coin jumped 320,000 and the American Buffalo Gold coin added 3,000. American Eagle Gold coins rose Monday with a total of 4,000 ounces sold.

For a analysis on how well United States Mint bullion coin sales were in March, read the article describing how bullion sales rebounded.

The most recent bullion coin totals are offered in the daily, monthly and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue April 2012 Sales
1 oz American Eagle Gold Coin 3,500 0 3,500 165,500
1/2 oz American Eagle Gold Coin 0 0 0 51,000
1/4 oz American Eagle Gold Coin 0 0 0 40,000
1/10 oz American Eagle Gold Coin 5,000 0 5,000 135,000
1 oz American Buffalo Gold Coin 1,000 2,000 3,000 49,500
5 oz America the Beautiful Silver Coins 0 0 0 7,800
1 oz American Silver Eagle 195,000 125,000 320,000 10,459,000


Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, March 26, 2012. All other bullion sales have an "as of date" of Tuesday, April 3, 2012, as published on the Mint website.

Also in the news, check out the article about the Perth Mint release of its new Australian Koala 1 Kilo Silver Coin.

London Bullion Prices

Like New York precious metals futures, London bullion prices were higher with the exception of a modes loss for gold. The following grid offers London PM Fix daily prices through this week and gains over the most recent two-days.

London Fixings (PM)
  Mon Tue Daily Gain
Silver Prices $32.42 $32.97 $0.55
Gold Prices $1,677.50 $1,676.25 -$1.25
Platinum Prices $1,641.00 $1,659.00 $18.00
Palladium Prices $656.00 $660.00 $4.00


Refer to this site’s home page for always updated bullion prices and news.

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