Gold Prices Mark Weekly Increase, Bullion Silver Eagle Coin on 9-Day Streak

by Bullion Prices Staff on June 16, 2012

Gold prices advanced on Friday, for the week and for sixth straight session. Gold’s weekly increase came to 2.3%, behind palladium with its rise of 3% and a pick-up for platinum of 4.4%. Silver also logged a weekly gain but it was the most modest in the group at 0.9%.

In specifics, gold prices for August delivery added $8.50, or 0.5%, to $1,628.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold traversed an intraday low and high of $1,620.40 an ounce and $1,635.40 an ounce.

"Markets rallied Thursday after a news report said that central banks are ready to enter markets if credit conditions seize up if the Greek election is indecisive. That report, plus thoughts that recent U.S. economic data suggests a slowing of the economy, has revitalized thoughts that more monetary stimulus is forthcoming," writes Debbie Carlson of Kitco News.

"Some market participants said if the pro-bailout parties will win, the market is acting as if it will mean Greece gets its next tranche of aid and perhaps cause eurozone leaders to enact some sort of stimulus for the region. That would be positive for gold."

In wrapping up bullion futures in New York, July silver prices added 33.3 cents, or 1.2%, to $28.74 an ounce, September palladium prices declined $4.50, or 0.7%, to $630.40 an ounce and July platinum prices dipped 40 cents to $1,487.20 an ounce.

The following grid offers precious metals futures on a daily basis along with the most recent weekly changes.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
July Silver Prices $28.62 $28.41 $29.49 $28.41 $28.740 $0.27
0.9%
Aug. Gold Prices $1,596.80 $1,616.90 $1,634.20 $1,619.60 $1,628.10

$36.70
2.3%

July Platinum Prices $1,449.30 $1,440.50 $1,469.20 $1,487.60 $1,487.20 $62.10
4.4%
Sept. Palladium Prices $625.15 $619.80 $632.80 $634.90 $630.40 $18.40
3.0%

 

United States Mint Bullion Sales

The bullion Silver Eagle coin extended a streak of daily advanced to nine days on Friday, according to United States Mint sales stats. Each type of Mint bullion coin advanced for the day, lifting sales for what turned out to be a firm week.

All bullion coin totals are offered in the daily, June and 2012 sales columns below.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri June 2012 Sales
1 oz American Eagle Gold Coins 3,000 2,000 2,500 0 3,000 20,500 250,500
1/2 oz American Eagle Gold Coins 1,000 0 0 0 0 1,000 55,000
1/4 oz American Eagle Gold Coins 0 0 0 0 2,000 2,000 48,000
1/10 oz American Eagle Gold Coins 0 0 0 0 0 5,000 155,000
1 oz American Buffalo Gold Coins 500 0 1,500 0 1,000 4,500 69,500
5 oz America the Beautiful Silver Coins 300 0 1,000 0 500 3,200 16,800
1 oz American Silver Eagle Coins 158,500 25,000 200,000 40,000 200,000 1,361,500 15,895,500

 

Notes: The sales of bullion coins above are in numbers sold, not ounces sold.

In coin news, check out this article on the one-week SF Silver Eagle Set sales. On Thursday, the set reached $19,274,573, or 128,540 for a unit total. By Friday, the set attained unit sales of 131,512.

London Bullion Prices

London bullion prices split Friday with silver lower by 22 cents while each of the other precious metals garnered gains. For the week, all were higher. The following grid provides London PM Fix daily bullion prices this week with the weekly increases.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $28.63 $28.54 $28.87 $28.88 $28.66 $0.49
1.7%
Gold Prices $1,584.00 $1,603.50 $1,619.50 $1,613.50 $1,627.25 $50.75
3.2%
Platinum Prices $1,452.00 $1,443.00 $1,460.00 $1,485.00 $1,493.00 $76.00
5.4%
Palladium Prices $623.00 $624.00 $625.00 $624.50 $632.00 $19.00
3.1%

 

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

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