Gold Prices Retreat 80 Cents, Silver Eagle Bullion Coins Top 4M in September

by Bullion Prices Staff on September 29, 2011

Gold prices were nearly unchanged Thursday. The December futures contract dipped 80 cents to settle at $1,617.30 an ounce on the Comex division of the New York Mercantile Exchange, trading between $1,585 an ounce and $1,637.90 an ounce.

"Comex December gold futures prices traded both sides of unchanged Thursday, but did not stray too far away from steady, as the market consolidated recent, more volatile price action," wrote Jim Wyckoff of Kitco Metals." Firmer U.S. and European stock indexes pulled some investment demand away from the precious metals Thursday. However, higher crude oil prices did limit selling pressure in the precious metals Thursday."

Silver was an outlier in precious metals. December silver added 38.8 cents, or 1.3%, to $30.52 an ounce.

PGM futures tracked gold with losses. December palladium futures prices stepped back $11.15, or 1.8%, to $623.60 an ounce while October platinum futures prices fell $5.20, or 0.3%, to $1,532.90 an ounce.

London Bullion Prices

London bullion prices retreated heavily. Changes from the Wednesday PM to Thursday PM fixing prices show that:

  • Gold fell $30, or 1.8%, to $1,613 an ounce
  • Silver declined 85 cents, or 2.7%, at $30.19 an ounce
  • Palladium lost $23, or 3.6%, to $621 an ounce
  • Platinum fell $26, or 1.7%, at $1,530 an ounce

United States Mint Bullion Coins

United States Mint bullion coins continue their recent fiery pace. The Mint on Thursday published gains across each of its 1 oz. bullion coins, for a second consecutive day.

The American Gold Buffalo added 500 to 12,500 for September. A big portion of that gain (5,000) came since Friday. American Gold Eagle bullion coins gained 4,500 to 83,500 for September. 37,000 of the total came since Friday.

In near astonishing fashion, American Silver Eagle bullion coins advanced another 275,000, which brings their September total to over 4 million. 1.7 million of that came since Friday. Another 259,501 would need to be purchased by tomorrow for September to move from third to second place for all-time monthly sales. As mentioned Wednesday, the recent sales feat is more impressive when considering that bullion coins stood at just a touch over 1.4 million on Wednesday of last week.

For an analysis of both numismatic and sales of bullion coins, reach the article: Three Products Debut, Bullion Silver Eagles Pass 4 Million.

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
1 oz American Gold Buffalo 500 12,500 132,000
1 oz American Gold Eagle 4,500 83,500 756,000
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 1,900 382,800
1 oz American Silver Eagle 275,000 4,000,500 32,951,500


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 26, 2011. All other figures have an "as of date" of Thursday, September 29, 2011.

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