Gold Prices Edge 0.2% Higher, Silver Gains 0.9%, Bullion Coins Up

by Bullion Prices Staff on June 20, 2011

U.S. gold prices rose modestly Monday as euro-zone debt woes remained in the news which appealed to safe-haven gold buying. August gold prices rose $2.90, or 0.2%, to $1,542 on the Comex division of the New York Mercantile Exchange. Gold prices ranged from an intraday low of $1,533.60 an ounce to a high of $1,548.20 an ounce.

"Comex gold and silver futures prices closed the U.S. day session modestly higher Monday morning," wrote Jim Wyckoff of Kitco Metals Inc. "The precious metals were boosted on more safe-haven investment demand as the European Union’s sovereign debt woes continue. However, a stable U.S. dollar index and crude oil prices hitting a fresh six-month low Monday did limit the upside in the precious metals."

For other bullion prices, July silver advanced 32.3 cents, or 0.9%, to $36.07 an ounce, September palladium advanced $2.80, or 0.4%, to $748.20 an ounce, and July platinum declined $21.60, or 1.2%, to $1,730.50 an ounce.

London Bullion Prices

London bullion prices were split for a fourth-straight session. PM fixing prices included the following changes:

  • Gold advanced $6.50, or 0.4% at $1,544 an ounce
  • Silver advanced 19 cents, or 0.5%, at $35.58 an ounce
  • Palladium declined $16, or 2.1%, at $738
  • Platinum declined $24, or 1.4%, at $1,727 an ounce

U.S. Mint Bullion Coins

Buyers on Monday ordered a range of U.S. Mint bullion coins. The .999 fine American Silver Eagles showed their normal Monday bounce, rising more than 600,000 to over 21.3 million for the year and just shy of 2.5 million for June. Gains in American Gold Eagles were seen almost across the spectrum. The middle-sized half ounce coin was the exception.

As previously discussed on this site, the U.S. Mint on Monday began selling the five-ounce Vicksburg silver bullion coin. The three-inch diameter coin is the fourth five-ounce bullion issue this year. Its opening sales are not yet available.

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 0 1,000 75,000
1 oz American Gold Eagle 3,000 36,000 487,500
1/2 oz American Gold Eagle 0 0 55,000
1/4 oz American Gold Eagle 2,000 4,000 60,000
1/10 oz American Gold Eagle 5,000 25,000 240,000
5 oz America the Beautiful Silver 0 0 326,800
1 oz American Silver Eagle 623,500 2.4905M 21.392M

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 12. All other sales figures are as of Monday, June 20.

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