Gold Prices Retreat, Bullion Silver Coin Sales Above 16M

by Bullion Prices Staff on June 19, 2012

Gold prices pulled back for a second session on Tuesday, although losses over the two days totaled a modest $4.90. Trading volume was light for both as players are a bit on the sidelines as they wait for the Fed to announce its latest monetary policy on Wednesday.

On Tuesday, gold prices for August delivery lost $3.80, or 0.2%, to $1,623.20 an ounce on the Comex division of the New York Mercantile Exchange. The metal moved between $1,631.30 an ounce and $1,606.90 an ounce.

"Gold has shown itself to be very sensitive to shifts in expectations of U.S. monetary policy. If the Fed states that it is prepared to ease policy further if the economy should weaken, this may be sufficient to support gold prices," said James Steel, chief commodity analyst at HSBC, according to Reuters.

In other futures, July silver prices lost 30.3 cents, or 1.1%, to $28.37 an ounce, September palladium prices declined $3.75, or 0.6%, to $629.40 an ounce and July platinum prices lost $3.60, or 0.2%, to to $1,480.50 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 Daily Change
July Silver Prices $28.67 $28.37 -$0.30
Aug. Gold Prices $1,627.00 $1,623.20


July Platinum Prices $1,484.10 $1,480.50 -$3.60
Sept. Palladium Prices $633.15 $629.40 -$3.75


United States Mint Bullion Sales

Another milestone occurred Tuesday for the United States Mint’s most popular silver coin. Sales of the American Silver Eagle rose 338,500, which put it at 1.7 million for June and a more impressive milestone total of above 16.2 million for 2012.

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 June 2012 Sales
1 oz American Eagle Gold Coins 0 3,500 24,000 254,000
1/2 oz American Eagle Gold Coins 0 0 1,000 55,000
1/4 oz American Eagle Gold Coins 0 0 2,000 48,000
1/10 oz American Eagle Gold Coins 0 0 5,000 155,000
1 oz American Buffalo Gold Coins 0 500 5,000 70,000
5 oz America the Beautiful Silver Coin 0 1,300 4,500 18,100
1 oz American Eagle Silver Coin 0 338,500 1,700,000 16,234,500


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

In other coin news about the United States Mint, read the linked article on the bureau’s latest weekly sales of silver coins.

London Bullion Prices

London bullion prices were higher Tuesday, unlike later settled futures in New York. The following grid provides London PM Fix daily bullion prices and latest two-day changes.

London Bullion Prices (PM Fixings)
  Mon Tue Daily Change
Silver Prices $28.43 $28.81 $0.38
Gold Prices $1,615.50 $1,625.50 $10.00
Platinum Prices $1,484.00 $1,486.00 $2.00
Palladium Prices $628.00 $634.00 $6.00


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

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