Gold Prices Rise 1%, Bullion US Mint Coins Flat

by Bullion Prices Staff on April 10, 2012

U.S. gold prices marked gains for a third consecutive session Tuesday. June gold prices added $16.80, or 1%, to $1,660.70 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices ranged between $1,632.50 an ounce and $1,664.80 an ounce. Gold was supported by safe-haven buying, opined analysts.

"People are now looking at gold as a flight-to-quality investment rather than a classic commodity in this fear environment," Adam Klopfenstein, a market strategist at Archer Financial Services Inc., based in Chicago, said in a telephone interview, according to Bloomberg.

In other New York futures prices, May silver futures rose 15.5 cents, or 0.5%, to $31.68 an ounce while PGM metals declined. June palladium futures fell $6.95, or 1.1%, to $636.85 an ounce and July platinum futures lost $24.50, or 1.5%, to $1,593.70 an ounce.

United States Mint Bullion Coin Sales

United States Mint bullion coin levels were unchanged Tuesday. The most recent bullion coin totals are offered in the daily, monthly and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue April 2012 Sales
1 oz American Eagle Gold Coin 500 0 4,000 166,000
1/2 oz American Eagle Gold Coin 0 0 0 51,000
1/4 oz American Eagle Gold Coin 0 0 0 40,000
1/10 oz American Eagle Gold Coin 0 0 5,000 135,000
1 oz American Buffalo Gold Coin 1,000 0 4,000 50,500
5 oz America the Beautiful Silver Coins 200 0 200 8,000
1 oz American Silver Eagle 240,000 0 560,000 10,699,000

Notes: Figures above are in coins, not ounces sold.

In other United States Mint news, buyers should expect cheaper gold coin prices Wednesday. With gold prices down in London, the Mint is expected to cut prices on all of its commemorative gold coins as well as its collector proof gold coins. The reductions should occur close to noon ET.

London Bullion Prices

UK markets reopened Tuesday follow the Easter holiday break and London bullion prices moved modestly higher. The following grid offers London PM Fix daily prices through this week and gains over the most recent two-days.

London Fixings (PM)
  Thurs Tue Daily Gain
Silver Prices $31.27 $31.55 $0.28
Gold Prices $1,631.00 $1,644.00 $13.00
Platinum Prices $1,592.00 $1,605.00 $13.00
Palladium Prices $635.00 $639.00 $4.00


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