Gold Prices Dip, US Bullion Gold, Silver Coin Sales Flat

by Bullion Prices Staff on June 20, 2012

Gold prices stepped back for a third session Wednesday as disappointment weighed in over the Fed’s decision to extend its "Operation Twist" instead of starting another round of quantitative easing.

Gold prices for August delivery declined $7.40, or 0.5%, to settle at $1,615.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded between an intraday low of $1,590.50 an ounce and a high of $1,623.60 an ounce.

"At least for the near term, it’s mainly a short-term negative for gold because it indicates that there won’t be immediate and new aggressive accommodation, and certainly no QE3 at all judging from this statement," said Bill O’Neill, partner of commodities wealth manager LOGIC Advisors in New Jersey, according to Reuters.

In other New York futures, July silver added 2.1 cents, or 0.1%, to $28.39 an ounce, September palladium prices declined $9.90, or 1.6%, to $619.50 an ounce and July platinum prices fell $13.70, or 0.9%, to to $1,466.80 an ounce.

The following grid offers precious metals futures on a daily basis along with the most recent weekly changes.

New York Futures – Bullion Prices
  Mon Tue Wed Daily Change
($/%)
July Silver Prices $28.67 $28.37 $28.39 $0.021
0.1%
Aug. Gold Prices $1,627.00 $1,623.20 $1,615.80

-$7.40
-0.5%

July Platinum Prices $1,484.10 $1,480.50 $1,466.80 -$13.70
-0.9%
Sept. Palladium Prices $633.15 $629.40 $619.50 -$9.90
-1.6%

 

United States Mint Bullion Sales

For a second day this week, it was a no show for United States Mint bullion coins. The bureau reported no gains after the increases on Tuesday.

Current United States Mint bullion coin totals are offered in the daily, June and 2012 sales columns below.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed June 2012 Sales
1 oz American Eagle Gold Coins 0 3,500 0 24,000 254,000
1/2 oz American Eagle Gold Coins 0 0 0 1,000 55,000
1/4 oz American Eagle Gold Coins 0 0 0 2,000 48,000
1/10 oz American Eagle Gold Coins 0 0 0 5,000 155,000
1 oz American Buffalo Gold Coins 0 500 0 5,000 70,000
5 oz America the Beautiful Silver Coin 0 1,300 0 4,500 18,100
1 oz American Eagle Silver Coin 0 338,500 0 1,700,000 16,234,500

 

Notes: The sales of bullion coins above are in numbers sold, not ounces sold.

In other coin news, read about

The second linked article describes legislation introduced in the U.S. House of Representatives that seeks commemorative clad, gold and silver coins to help celebrate the 100th anniversary of the National Park Service in year 2016.

London Bullion Prices

London bullion prices were lower across the board Wednesday after gaining on the previous day. The following grid provides London PM Fix daily bullion prices and latest two-day changes.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Daily Change
($/%)
Silver Prices $28.43 $28.81 $28.31 -$0.50
-1.7%
Gold Prices $1,615.50 $1,625.50 $1,601.00 -$24.50
-1.5%
Platinum Prices $1,484.00 $1,486.00 $1,459.00 -$27.00
-1.8%
Palladium Prices $628.00 $634.00 $624.00 -$10.00
-1.6%

 

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

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