Gold Prices Settle to Record, Bullion Coins Little Changed

by Bullion Prices Staff on July 12, 2011

U.S. gold rallied to a record settlement price Tuesday, the first time a new closing record had been reached since May 2. August gold prices gained $13.10, or 0.8%, to $1,562.30 an ounce on the Comex division of the New York Mercantile Exchange. The metal’s intraday low was $1,541.10 an ounce while its high was $1,556.10 an ounce.

"With the currency volatility and the debt-contagion risk in Europe, investors are gravitating toward something tangible like gold," said Adam Klopfenstein, a senior strategist at Lind-Waldock in Chicago.

Gold prices pushed even higher in after-hours trading following the release of the Federal Reserve’s June policy meeting minutes which indicated some members were in favor of more monetary easing. Gold rose as high as $1,574.30 an ounce.

Silver was a precious metals exception in New York as futures fell slightly. September silver ended down 6.4 cents or 0.2%, to $35.63 an ounce.

In PGM futures prices, September palladium was flat at $767.45 an ounce while October platinum gained $8.00, or 0.5%, to $1,736.30 an ounce.

London Bullion Prices

London bullion prices were fixed lower Tuesday. PM fixing prices included the following changes:

  • Gold prices lost $5, or 0.3% at $1,550.50 an ounce
  • Silver fell $1.45, or 4%, at $34.91 an ounce
  • Palladium lost $13, or 1.7%, at $757 an ounce
  • Platinum fell $8, or 0.5%, at $1,723 an ounce

U.S. Mint Bullion Coins

Two changes have been made to the latest U.S. bullion coin sales figures shown below. The 1 oz. Gold Eagle had its total increased by 1,000 to 14,500 for July. Additionaly, the latest sales report from the U.S. Mint has the 5 oz. America the Beautiful Silver Bullion Coins up 2,800 to 348,600 for the year. The newest figures are shown in the daily, July 2011 and YTD 2011 columns below.

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 0 2,500 82,000
1 oz American Gold Eagle 1,000 14,500 522,000
1/2 oz American Gold Eagle 0 1,000 56,000
1/4 oz American Gold Eagle 0 0 64,000
1/10 oz American Gold Eagle 0 5,000 255,000
5 oz America the Beautiful Silver 0 2,800 348,600
1 oz American Silver Eagle 0 1,113,500 23.417M


*Notes. Figures above are in coins, not ounces sold. The United States Mint last updated the 5 oz. America the Beautiful Silver Bullion Coin sales on Monday, July 11. All other sales figures are as of Tuesday, July 12.

For a review of the bullion coin performances last month, check out this June bullion coin sales article.

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