Gold Prices Jump 1.7%, Bullion Silver Eagle Coin Only Riser

by Bullion Prices Staff on September 20, 2011

Gold prices rebounded 1.7% and back above $1,800 an ounce on Tuesday after falling below the level with a 2% loss on Monday. On the Comex division of the New York Mercantile Exchange, December gold prices rose $30.20 to $1,809.10 an ounce. The settlement price was much closer to the intraday high at $1,814.30 an ounce than the low at $1,772.

"The market realizes how structural the problems in the financial system are," Scott Gardner, the chief investment officer at Panama-based Verdmont Capital SA, said in an e-mail that was cited on Bloomberg. "Economic growth concerns are bullish for gold because they suggest a further stimulus response from the developed markets may be forthcoming."

December silver prices tracked gold, rising 97.4 cents, or 2.5%, to $40.14 an ounce. The white metal will need to advance another 70 cents to fully recover from its single day loss on Monday.

In PGM futures, December palladium prices gained $5.65, or 0.8%, to $717.75 an ounce while October platinum prices added $9.90, or 0.6%, to $1,781.90 an ounce.

London Bullion Prices

London bullion prices were split for a third straight day. In the latest readings, only gold advanced. Changes from the Monday PM to Tuesday PM fixing prices show that:

  • Gold added $5, or 0.3%, to $1,799 an ounce
  • Silver declined $1.28, or 3.2%, at $39.18 an ounce
  • Palladium fell $4, or 0.6%, to $717 an ounce
  • Platinum declined $24, or 1.3%, at $1,799 an ounce

United States Mint Bullion Coins

Bullion coin pick-ups on Tuesday were limited to the American Silver Eagle, according to the latest published sales figures from the United States Mint. The bullion Silver Eagle added 125,000, lifting its September total to over 1.4 million. While sales of the bullion coin have risen sharply in the last few days, September’s tally is well short of August’s halfway point — and more than half of this month is gone.

In other news, for a recent summary of silver coin performances, read about the debut Silver Eagle uncirculated coin sales.

The latest United States Mint bullion sales are provided below in the daily, September 2011 and YTD 2011 columns.

Sales of United States Mint 2011 Bullion Coins
  Monday
Gain
September
2011
2011
Totals
1 oz American Gold Buffalo 0 5,000 124,500
1 oz American Gold Eagle 0 29,000 701,500
1/2 oz American Gold Eagle 0 1,000 62,000
1/4 oz American Gold Eagle 0 2,000 72,000
1/10 oz American Gold Eagle 0 20,000 340,000
5 oz America the Beautiful Silver not reported 300 382,100
1 oz American Silver Eagle 125,000 1,404,500 30,355,500

 

Notes. Figures above are in coins, not ounces sold. The United States Mint last updated the sales of 5 oz. America the Beautiful Silver Bullion Coins on Monday, September 19, 2011. All other figures have an "as of date" of Tuesday, September 20, 2011.

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