Gold Prices Fall, Bullion American Silver Eagles Top 20 Million

by Bullion Prices Staff on June 13, 2011

U.S. bullion prices fell Monday with losses ranging between 0.9% and 4.4%. Gold prices declined the least in percentage terms. On the Comex division of the New York Mercantile Exchange, the yellow metal lost $13.60 to $1,515.60 an ounce — its lowest price since May 23. Gold prices traded between $1,511.40 an ounce and $1,533.90 an ounce.

"Heightened risk aversion unhinged bullion prices" in recent sessions, HSBC’s analyst Jim Steel said in a note to clients, reported on MarketWatch. "In the current climate, gold did not attract sufficient safe-haven buying to stay firm and instead followed other commodities lower."

In other New York futures prices, July silver fell $1.59, or 4.4%, to $34.74 an ounce, September palladium fell $16.95, or 2.1%, to $800.35, and July platinum fell $26.20, or 1.4%, to $1,806.80 an ounce.

London Bullion Prices

London bullion prices were also lower Monday, but losses were mostly less severe than in New York. PM fixing price changes included a:

  • Gold fell of $3, or 0.2% at $1,526.25 an ounce
  • Silver declined $1.87, or 5.0%, at $35.51 an ounce
  • Palladium fell $4, or 0.5%, at $806
  • Platinum declined $14, or 0.8%, at $1,815 an ounce

United States Mint Bullion Coins

American Silver Eagles reached a milestone Monday, topping 20 million in sales this year. The bullion silver coins advanced 682,000 for the day and already are above 1.6 million in June.

American Gold Eagles were the other United States Mint bullion coins to rise. The 1 oz and 1/10 oz sizes each added 5,000.

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 0 74,000
1 oz American Gold Eagle 5,000 29,500 481,000
1/2 oz American Gold Eagle 0 0 55,000
1/4 oz American Gold Eagle 0 0 56,000
1/10 oz American Gold Eagle 5,000 20,000 235,000
5 oz America the Beautiful Silver 0 0 326,800
1 oz American Silver Eagle 682,000 1,617,000 20.5185M

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 May 26. All other sales figures are as of Monday, June 13.

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