Gold Prices Hit New 2012 Low, Bullion Silver Coin Sales Rally

by Bullion Prices Staff on May 15, 2012

Gold prices marked yet another day of losses and hit a fresh 2012 low on Tuesday as investors continued to prefer the "safety" of the U.S. dollar over commodities and stocks. The greenback has registered 12 straight session increases, the longest streak since at least 1985. The rally has been ongoing as debt woes in Europe heighten.

On Tuesday, June gold prices edged down $3.90, or 0.2%, to $1,557.10 an ounce on the Comex division of the New York Mercantile Exchange, trading between $1,546.80 an once and $1,564.40 an ounce.

"(Gold’s) safe haven status has been tarnished," Richcomm Global Services senior analyst Pradeep Unni said, according to Reuters. "It will wobble on the euro’s weakness, but in a very short term, bargain hunting and pent-up demand will emerge taking it higher."

July silver prices declined 27.3 cents, or 1%, to $28.08 an ounce.

In PGM futures, June palladium prices rose $3.90, or 0.3%, to $1,446.50 an ounce and July platinum were up $6.25, or 1.1%, to $601.10 an ounce.

New York Futures – Bullion Prices
  Mon Tue Daily Gain
May Gain
Silver Prices $28.353 $28.08 -$0.273
Gold Prices $1,561.00 $1,557.10 -$3.90
Platinum Prices $1,442.60 $1,446.50 $3.90
Palladium Prices $594.85 $601.10 $6.25


United States Mint Bullion Coin Sales

Bullion coins are on a bit of a rally over the last two days. In particular, United States Mint’s silver coin sales rushed ahead 625,000 since Friday, more than doubling the previous entire sales total in May.

The most recent bullion coin totals are offered in the daily, monthly and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue May 2012 Sales
1 oz Gold American Eagle 0 2,500 34,000 215,000
1/2 oz Gold American Eagle 0 0 0 51,000
1/4 oz Gold American Eagle 0 0 0 42,000
1/10 oz Gold American Eagle 0 5,000 5,000 140,000
1 oz American Buffalo Gold Coins 0 500 1,500 57,000
5 oz America the Beautiful Silver Coins 0 0 0 8,000
1 oz American Silver Eagle 475,000 150,000 1,135,000 12,794,000


Notes: The sales figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, April 9, 2012. All other bullion figures have an "as of date" of Tuesday, May 15, 2012, as published on the Mint website.

In world coin news, the Royal Canadian Mint released its latest $20 Silver Coin for $20. The fourth silver coin in the series features two effigies of Queen Elizabeth II.

London Bullion Prices

Bullion prices in London set the tone for later New York futures closings, as metals in both markets moved in similar directions. The following grid offers London PM Fix daily bullion prices with gains and losses over the most recent two-day period as well as for May.

London Bullion Prices and Their Fixings (PM)
  Mon Tue Daily Gain
May Gain
Silver Prices $28.33 $28.28 -$0.05
Gold Prices $1,558.50 $1,556.50 -$2.00
Platinum Prices $1,448.00 $1,449.00 $1.00
Palladium Prices $602.00 $602.00 N/A -$77.00


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

{ 1 comment… read it below or add one }

Lee May 16, 2012 at 8:43 pm

It was reported by today that Fed minutes from an April meeting indicated further economic support by the Fed might still be necessary. If true, it could result in price appreciation for both gold and silver.

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