Gold Prices, Silver and Bullion Coin Sales Dip on Week

by Bullion Prices Staff on August 18, 2012

Platinum and palladium rallied a respective 5.2% and 3.9% this week but silver and gold prices dropped, albeit modestly, with losses of 0.2% each.

On Friday, December gold prices inched up 20 cents to close at $1,619.40 an ounce on the Comex division of the New York Mercantile Exchange.

"The monetary affairs of the world probably play the most important role for gold prices going forward," Bloomberg quoted Thorsten Polleit, chief economist at Degussa Goldhandel GmbH, a precious metal trading and investment company in Frankfurt. "The slowing economy will boost calls for easier monetary policy. This is adding a further boost to gold."

In other bullion prices, September silver prices erased 21 cents, or 0.7% of value to close at $28 an ounce, September palladium shot up $21.65, or 3.7%, to $605.10 an ounce and October platinum prices gained $37.90, or 2.6%, to $1,473.10 an ounce.

The following table provides New York bullion prices on a daily basis and the most recent weekly changes.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $27.77 $27.76 $27.81 $28.21 $28.00 -$0.06
-0.2%
Gold Prices $1,612.60 $1,602.40 $1,606.60 $1,619.20 $1,619.40

-$3.40
-0.2%

Platinum Prices $1,392.80 $1,399.10 $1,396.20 $1,435.20 $1,473.10 $73.20
5.2%
Palladium Prices $574.70 $578.40 $578.05 $583.45 $605.10 $22.90
3.9%

 

United States Mint Bullion Coin Sales

Coin sales declined from a week ago, bullion data published by United States Mint shows. For the week:

  • Gold bullion coin sales were 3,000 ounces as compared to the prior week’s 7,000 ounces.
  • Silver bullion coin sales were 670,000 ounces versus the prior week’s 742,000 ounces.

The latest United States Mint bullion coin sales are offered in the daily, August and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed Thurs Fri August 2012 Sales
1 oz American Eagle Gold Bullion Coin 0 0 0 0 3,000 11,500 325,000
1/2 oz American Eagle Gold Bullion Coin 0 0 0 0 0 0 56,000
1/4 oz American Eagle Gold Bullion Coin 0 0 0 0 0 0 54,000
1/10 oz American Eagle Gold Bullion Coins 0 0 0 0 0 5,000 195,000
1 oz American Buffalo Gold Bullion Coins 0 0 0 0 0 3,500 82,500
5 oz America the Beautiful Bullion Silver Coins 0 0 0 0 300 2,200 42,400
1 oz American Eagle Bullion Silver Coins 475,000 0 0 0 193,500 1,583,500 21,253,500

 

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

In other United States Mint news this week, there are two articles of note:

The first article details Monday’s release of the collectible 2012-P Acadia National Park 5 Ounce Silver Uncirculated Coin. The United States Mint released it at $204.95, which is the same price as other collector coins in the series. Unlike the America the Beautiful Bullion Silver Coins above, this particular coin has a mint mark of "P" to denote its creation at the Philadelphia Mint and it has an uncirculated finish.

The last article linked above provides a breakdown of opening sales for the 2012-W American Platinum Eagle proof coin that was released on August 7. Also provided are weekly sales increases for other United States Mint coin collecting products.

London Bullion Prices

London bullion prices were higher Friday, with exceptional gains of 3.9% for platinum and 2.2% for palladium. Gold prices registered a slight increase of 0.6% while silver tacked on 1.3%.

Despite those gains, not all precious metals advanced this week. The following grid highlights with daily London PM Fix prices and the weekly increases for metals as well as gold’s loss.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Thurs Fri Weekly Losses
($/%)
Silver Prices $28.05 $27.84 $27.64 $27.84 $28.20 $0.32
1.1%
Gold Prices $1,622.50 $1,597.75 $1,601.75 $1,604.50 $1,614.75 -$3.75
-0.2%
Platinum Prices $1,401.00 $1,400.00 $1,400.00 $1,400.00 $1,455.00 $56.00
4.0%
Palladium Prices $581.00 $577.00 $576.00 $579.00 $592.00 $14.00
2.4%

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