Gold Prices Rise 1%, Silver Gains 1.4%, Bullion Coins Advance

by Bullion Prices Staff on October 24, 2011

U.S. gold prices rose Monday, sporting gains for a second session along with silver, palladium and platinum. December gold futures added $16.20, or 1.0%, to $1,652.30 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices traded between $1,636.60 an ounce and $1,663.30 an ounce.

"Gold investor interest has stabilized, and physical demand continues to emerge, albeit at softer levels," Suki Cooper, an analyst at Barclays Capital in New York, wrote today in a report that was relayed on Bloomberg. "We continue to expect gold prices to be cushioned amid the seasonally strong period for demand, and this remains key before investment demand returns to the driver’s seat. We retain our positive view on gold, given the macro backdrop."

December silver futures prices added 45.1 cents, or 1.4%, to settle at $31.64 an ounce.

In PGM futures prices, December palladium gained 20.25, or 3.3%, to $638.50 an ounce and January platinum added $32.80, or 2.2%, to $1,542 an ounce.

London Bullion Prices

London bullion prices moved in the same direction as futures in New York. Changes from the Friday PM to Monday PM fixings in London show that:

  • Gold prices rose $9.50, or 0.6%, to $1,652 an ounce
  • Silver added 90 cents, or 2.9%, to $31.70 an ounce
  • Palladium added $15, or 2.4%, to $631 an ounce
  • Platinum added $27, or 1.8%, to $1,537 an ounce

United States Mint Bullion Coins

United States Mint bullion coins advanced across all sizes and types on Monday.

The latest available bullion sales are provided below in the daily, October 2011 and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales Figures
1 oz American Buffalo Gold 500 12,500 145,000
1 oz American Eagle Gold 2,000 41,000 801,000
1/2 oz American Eagle Gold 1,000 3,000 65,000
1/4 oz American Eagle Gold 2,000 6,000 78,000
1/10 oz American Eagle Gold 5,000 10,000 355,000
5 oz America the Beautiful Silver not reported 389,700
1 oz American Silver Eagle 167,000 2,799,000 36,210,500


Notes. Figures above are in coins, not ounces sold. All figures have an “as of date” of Monday, October 24, 2011.

In related news, new coins have been proposed for the U.S.S. Cruiser Olympia. A bill named the U.S.S. Cruiser Olympia Commemorative Coin Act was introduced in the House that would authorize up to 500,000 silver dollars in calendar year 2016 to honor the vessel. For more information, click the earlier link.

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