Gold Prices Rebound, Bullion Gold Coins Surge as Silver Eagles Pass 9 Million

by Bullion Prices Staff on March 15, 2012

U.S. gold prices rebounded Thursday after three-straight session losses which totaled nearly $70. The deep losses were a reason attributed to gains Thursday as investors were able to buy at "bargain" prices. Gold prices for April delivery rose $16.60, or 1%, to $1,659.50 an ounce on the Comex division of the New York Mercantile Exchange.

"For a market that sells off five percent that doesn’t normally come off that aggressively, people look to buy it for a trading opportunity," Reuters quoted Fred Schoenstein, a trader at Heraeus Precious Metals Management.

Gold traded between $1,636.20 an ounce and $1,667.40 an ounce.

Silver prices rallied Thursday after sinking 4.2% on Wednesday. May silver futures advanced 54.5 cents, or 1.7%, to $32.73 an ounce.

Palladium was the best performing precious metals Thursday with its 1.8% increase, slightly edging out silver. June palladium futures prices gained $12.45 to close at $709.90 an ounce.

Conversely, platinum was the weakest of the metals on the day with its gain of 0.5%. April platinum futures prices settled up $8.60 to $1,683.90 an ounce.

United States Mint Bullion Coin Sales

It was a second straight day of gains for United States Mint bullion coins. The largest American Gold Eagle added 4,000 while the American Gold Buffalo was up 2,500 — each switching to each other’s totals from the previous day. Also in bullion gold, the United States Mint’s smallest American Gold Eagle soared 10,000. Combined, U.S. Mint Authorized Purchasers grabbed 7,500 ounces of bullion gold coins Thursday.

In a milestone that actually first occurred on Wednesday, the Mint’s bullion Silver Eagles topped the 9 million sales marker for the year when 352,000 coins were ordered. Thursday’s total was lower at 80,000.

For the most recent bullion coin sales totals, check out the daily, monthly and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed Thurs Mar 2012 Sales
1 oz American Gold Eagle 2,000 0 2,500 4,000 27,000 131,500
1/2 oz American Gold Eagle 0 0 0 0 0 49,000
1/4 oz American Gold Eagle 0 0 0 0 0 40,000
1/10 oz American Gold Eagle 0 0 0 10,000 15,000 105,000
1 oz American Gold Buffalo 0 0 4,000 2,500 18,500 39,000
5 oz America the Beautiful Silver Coins 900 0 0 0 1,400 7,400
1 oz American Silver Eagles 320,000 0 352,000 80,000 1,497,000 9,094,000

 

Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Coins on Monday, March 12, 2012. All other bullion sales have an “as of date” of Thursday, March 15, 2012, as published on the U.S. Mint website.

In United States Mint news, two articles are of note:

The first article provides the latest details on weekly sales of United States Mint products, including numismatic and bullion coins. The second article covers the Mint’s announcement Thursday of its pricing for the collectible proof Silver Eagle which is expected to be released on April 12.

London Bullion Prices

London bullion prices were split Thursday with gold higher and other metals lower. The following table offers this week’s London PM Fix prices as well as the latest daily PM changes.

London Fixings (PM)
  Mon Tue Wed Thurs Daily Gain
($/%)
Silver Prices $33.77 $33.58 $32.84 $32.36 -$0.48
-1.5%
Gold Prices $1,697.50 $1,690.00 $1,644.25 $1,648.00 $3.75
0.2%
Palladium Prices $704.00 $701.00 $700.00 $693.00 -$7.00
-1.0%
Platinum Prices $1,687.00 $1,691.00 $1,679.00 $1,676.00 $3.00
0.2%

 

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

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