Gold Prices Gain, American Eagle Bullion Coins Rise

by Bullion Prices Staff on October 12, 2011

U.S. gold prices and other precious metals rose Wednesday as a lower dollar contributed to gains. December gold prices added $21.60, or 1.3%, to $1,682.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Investors are less concerned that what’s going on in Europe will develop into some type of Lehman event," Reuters quoted Leo Larkin, metals equity analyst at S&P Capital IQ. "As long as people are confident that gold is not going to be sold off in panic, it can continue to go higher."

Gold prices traded from an intraday bottom of $1,662 an ounce to a ceiling of $1,693.90 an ounce.

Silver performed the best in precious metals with its 2.5% increase. In dollar terms, December silver futures added 79.1 cents to $32.79 an ounce.

In other bullion prices, December palladium futures added $6.80, or 1.1%, to $611.10 an ounce while January platinum futures added $35.60, or 2.3%, to $1,554.40 an ounce.

London Bullion Prices

London bullion prices were higher across the board as well. Changes from the Tuesday PM to Wednesday PM fixings show that:

  • Gold prices added $19, or 1.1%, to $1,682 an ounce
  • Silver added $1.52, or 4.8%, to $32.89 an ounce
  • Palladium added $10, or 1.7%, to $612 an ounce
  • Platinum added $32, or 2.1%, to $1,546 an ounce

United States Mint Bullion Coins

United States Mint sales of its bullion coins rose Wednesday after two straight days of zero readings. Gains, however, were limited to the 1 oz. sized bullion coins. The daily increases included 218,000 for the Silver Eagle and 2,500 each for the Gold Buffalo and Gold Eagle.

For a detailed break-out of recent numismatic and bullion coin sales, read the article US Mint Silver Eagles Score Annual Sales Record. A concentrated report on silver product sales can be read through the article entitled US Mint Sales: Proof Silver Eagles Outperform.

The latest available bullion sales are provided below in the daily, October 2011 and YTD 2011 columns.

Sales of United States Mint 2011 Bullion Coins
1 oz American Buffalo Gold 2,500 7,500 140,000
1 oz American Eagle Gold 2,500 24,000 784,000
1/2 oz American Eagle Gold 0 2,000 64,000
1/4 oz American Eagle Gold 0 4,000 76,000
1/10 oz American Eagle Gold 0 0 345,000
5 oz America the Beautiful Silver not reported 388,600
1 oz American Eagle Silver 218,000 1,880,000 35,291,500


Notes. Figures above are in coins, not ounces sold. The United States Mint last updated 5 oz. America the Beautiful Silver Bullion Coin sales on Monday, October 10, 2011. All other figures have an "as of date" of Wednesday, October 12, 2011.

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