Gold Prices Extend Record, Silver Hits Nine-Week High, Bullion 1 Oz Coins Rise

by Bullion Prices Staff on July 14, 2011

U.S. bullion prices were mixed Thursday thanks to palladium which was the only precious metal to decline. News focused on gold. It closed to a fresh record, a third straight. The yellow metal also increased its daily gains to eight.

August gold prices added $3.80, or 0.2%, to $1,589.30 an ounce on the Comex division of the New York Mercantile Exchange. Gold hit an intraday low of $1,579.40 an ounce and a high of $1,594.90 an ounce.

"Comex gold futures prices ended the U.S. day session slightly higher Thursday and scored another fresh all-time record high of $1,594.90, basis August futures," noted Jim Wyckoff of Kitco News.

"Silver finished higher and hit a fresh nine-week high as prices closed in on the $40.00-an-ounce level. Safe-haven investment demand was again featured amid the European Union sovereign debt crisis and the U.S. government wrangling over its debt ceiling. Sharply lower crude oil prices did somewhat limit the upside in the precious metals Thursday."

Silver’s intraday high of $39.40 an ounce was its best since May 11. September silver prices added 54.3 cents, or 1.4%, to $38.69 an ounce.

In PGM futures prices, September palladium fell 65 cents, or 0.1%, to $783.35 an ounce while October platinum added $7.30, or 0.4%, to $1,774.30 an ounce.

London Bullion Prices

London precious metals moved higher as a group. PM fixing prices included the following changes:

  • Gold prices added $11.50, or 0.7% at $1,590.50 an ounce
  • Silver gained $2.65, or 7.2%, at $39.40 an ounce
  • Palladium added $10, or 1.3%, at $788 an ounce
  • Platinum gained $27, or 1.5%, at $1,777 an ounce

U.S. Mint Bullion Coins

U.S. Mint bullion coin increases on Thursday were limited to the 1 oz. sizes. The American Gold Eagle bullion coin rose 5,000, the American Gold Buffalo bullion coin added 1,500 and the American Gold Eagle bullion coin gained 21,000.

For a breakout of recent bullion AND numismatic silver coin sales, read the article: US Mint Sales: 2011 Silver Eagle Coins Surge.

The latest U.S. Mint bullion coin sales figures are shown in the daily, July 2011 and YTD 2011 columns below.

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 1,500 4,000 83,500
1 oz American Gold Eagle 5,000 21,500 529,000
1/2 oz American Gold Eagle 0 1,000 56,000
1/4 oz American Gold Eagle 0 0 64,000
1/10 oz American Gold Eagle 0 5,000 255,000
5 oz America the Beautiful Silver 0 2,800 348,600
1 oz American Silver Eagle 21,000 1,361,000 23.6645M


*Notes. 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 Monday, July 11. All other sales figures are as of Thursday, July 14.

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