Gold Prices Retreat, Bullion US Coins Unchanged

by Bullion Prices Staff on May 22, 2012

Gold prices declined for a second consecutive session Tuesday as commodities in general were pressured by a firmer dollar and riskier investor appetite. On the Comex division of the New York Mercantile Exchange, gold prices for June delivery lost $12.10, or 0.8%, to settle at $1,576.60 an ounce.

"The strong dollar and lower oil and commodity prices appear to be pressuring gold lower," said Mark O’Byrne, executive director at GoldCore, according to MarketWatch. "Increased risk appetite as seen in the surge in equity indices may also be leading to lower gold prices."

During the day, gold prices traded between a low of $1,572 an ounce to a high of $1,594.40 an ounce.

Palladium was the sole precious metal to rise Tuesday, with June futures up $4.75, or 0.8%, to $615.55 an ounce.

Losses included July silver futures prices by 14.2 cents, or 0.5%, to $28.18 an ounce and July platinum futures prices by $3.10, or 0.2%, to $1,458.40 an ounce.

The following grid offers New York precious metals futures on a daily basis along with weekly gains and losses.

New York Futures – Bullion Prices
  Mon Tue Daily Gain
Silver Prices $28.32 $28.18 -$0.142
Gold Prices $1,588.70 $1,576.60 -$12.10
Platinum Prices $1,461.50 $1,458.40 -$3.10
Palladium Prices $610.80 $615.55 $4.75


Sales of United States Mint Bullion Gold & Silver Coins

While there was no sales action reported by the United States Mint on Tuesday as all bullion coin levels remained unchanged, each of the Mint’s 1 oz. and below bullion coins rose on Monday.

The most recent bullion coin totals are offered in the daily, May and 2012 sales columns below.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue May 2012 Sales
1 oz American Eagle Gold Coins 3,500 0 39,000 220,000
1/2 oz American Eagle Gold Coins 2,000 0 2,000 53,000
1/4 oz American Eagle Gold Coins 2,000 0 2,000 44,000
1/10 oz American Eagle Gold Coins 10,000 0 15,000 150,000
1 oz American Buffalo Gold Coins 1,500 0 7,000 62,500
5 oz America the Beautiful Silver Coins 0 0 0 8,000
1 oz American Eagle Silver Coins 477,500 0 2,017,500 13,676,500


Notes: The sales above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Bullion Silver Coins on Monday, April 9, 2012. All other bullion figures have an "as of date" of Tuesday, May 22, 2012, as published on the Mint website.

London Bullion Prices

London bullion prices were mostly modest to unchanged outside of silver, with fell by more than 1%. The following grid offers London PM Fix daily bullion prices with weekly gains and losses.

London Bullion Prices (PM Fixings)
  Mon Tue Daily Gain
Silver Prices $28.39 $28.07 -$0.32
Gold Prices $1,592.50 $1,582.50 -$10.00
Platinum Prices $1,458.00 $1,458.00 Unchanged
Palladium Prices $611.00 $612.00 $1.00


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

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