Gold Prices Mark Weekly Loss, Bullion American Eagle Coins Slow

by Bullion Prices Staff on July 21, 2012

Silver and gold prices climbed slightly Friday, although each still logged a weekly loss of 0.2% and 0.6%, respectively.

Gold prices for August delivery rose $2.40, or 0.2%, to $1,582.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded between a low of $1,572.60 an ounce and a high of $1,586.70 an ounce.

Fewer market-watchers and analysts seem committed to predicting whether gold prices will rise or fall next week.

"Gold prices could stay in their current range of $1,550 an ounce support and $1,600 resistance as there’s little news to push values into a new direction, analysts said," noted Debbie Carlson of Kitco News.

"In the Kitco gold survey, out of 33 participants, 22 responded this week. Of those 22 participants, 10 see prices up, while six see prices down, and six are neutral… The survey results underscore how non-committal market watchers are for precious metals next week as a whole."

In other futures bullion prices on Friday, September silver prices added 8.5 cents, or 0.3%, to $27.30 an ounce, September palladium prices declined $8.75, or 1.5%, to $576.10 an ounce and July platinum prices fell $8.60, or 0.6%, to $1,414.50 an ounce.

The following grid offers New York bullion prices on a per day basis and the most recent weekly losses.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
July Silver Prices $27.32 $27.32 $27.10 $27.22 $27.30 -$0.07
-0.2%
Aug. Gold Prices $1,591.60 $1,589.50 $1,570.80 $1,580.40 $1,582.80

-$9.20
-0.6%

July Platinum Prices $1,417.30 $1,420.70 $1,404.20 $1,423.10 $1,414.50 -$20.70
-1.4%
Sept. Palladium Prices $577.85 $583.35 $577.55 $584.85 $576.10 -$9.55
-1.6%

 

United States Mint Bullion Sales

Weakness this week was seen across each of the bullion coins sold by the United States Mint.

  • Rising only on Monday, gold bullion coins grew 1,000 versus the prior week’s advance of 10,000. Gains notably came only from the 1 oz. Gold American Eagle coins.
  • In silver bullion, weekly sales were 325,000 ounces compared to the previous 549,500 ounces.

The latest United States Mint bullion coin sales totals are offered in the daily, July and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed Thurs Fri July 2012 Sales
1 oz Gold American Eagle Coins 1,000 0 0 0 0 17,000 302,000
1/2 oz Gold American Eagle Coins 0 0 0 0 0 0 56,000
1/4 oz Gold American Eagle Coins 0 0 0 0 0 2,000 54,000
1/10 oz Gold American Eagle Coins 0 0 0 0 0 0 175,000
1 oz American Buffalo Gold Coins 0 0 0 0 0 1,500 76,500
5 oz America the Beautiful Silver Coin 600 0 0 0 0 4,300 25,800
1 oz Silver American Eagle Coins 97,000 0 0 100,000 125,000 1,228,000 18,620,000

 

Sales notes: Each of bullion coin sales totals above are in numbers sold, not ounces sold.

In United States Mint coin news this week, check out these two articles:

The first article describes a new product from the United States Mint that it is calling the Making American History Coin & Currency Set. It includes a unique serial numbered $5 bill commemorating the 150th anniversary of the BEP and a proof American Silver Eagle as a reminder of the Mint’s 220 years in service.

The second article offers data on the latest weekly sales of silver coins and products from the United States Mint, including the debut of the  2012-P Chaco Culture National Historical Park 5 Ounce Silver Uncirculated Coin.

London Bullion Prices

Bullion prices in London also suffered losses this week. In comparison to bullion futures in New York, they were heavier for gold and silver but lighter for platinum and palladium. The following grid provides London PM Fix daily bullion prices and changes for the week.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Thurs Fri Weekly Losses
($/%)
Silver Prices $27.05 $27.42 $27.03 $27.45 $27.07 -$0.38
-1.4%
Gold Prices $1,589.75 $1,585.25 $1,575.25 $1,584.00 $1,576.25 -$7.75
-0.5%
Platinum Prices $1,420.00 $1,419.00 $1,405.00 $1,415.00 $1,408.00 -$7.00
-0.5%
Palladium Prices $581.00 $583.00 $576.00 $581.00 $577.00 -$4.00
-0.7%

 

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

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