Gold Prices, Silver Edge Higher on Week; US Mint Bullion Coins Split

by Bullion Prices Staff on June 14, 2013

Bullion prices were mixed yet again this week, but with metals ending in the opposite directions from last week. Gold and silver advanced while palladium and platinum declined.

Gold prices for August delivery on Friday gained $9.80, or 0.7%, to close at $1,387.60 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal for the week edged up 0.3%.

The upcoming FOMC meeting is said to be a focal point for gold prices next week.

"Gold market participants will hold their collective breath next week awaiting the outcome of the Federal Open Market Committee meeting on Tuesday and Wednesday," Debbie Carlson of Kitco News said in a note.

"Because of this, gold prices may trade quietly ahead of the Fed’s decision and take direction from there," Carlson added.

Rounding out the precious metals complex on Friday:

  • July silver prices settled up 37 cents, or 1.7%, to $21.95 an ounce,
  • September palladium prices added 65 cents, or less than 0.1%, to $731.70 and
  • July platinum prices inched up 30 cents to $1,447.40 an ounce

New York bullion prices by day and the net changes for the week are shown in the following table.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $21.93 $21.65 $21.80 $21.58 $21.95 $0.21
1.0%
Gold Prices $1,386.00 $1,377.00 $1,392.00 $1,377.80 $1,387.60 $4.60
0.3%
Platinum Prices $1,506.90 $1,479.90 $1,482.30 $1,447.10 $1,447.40 -$55.20
-3.7%
Palladium Prices $769.40 $752.50 $757.05 $731.05 $731.70 -$29.50
-3.9%

 

Sales of United States Mint Bullion Coins in June

Demand for United States Mint bullion products increased for silver coins but fell back for gold coins. In weekly comparisons:

  • 22-karat American Eagle gold coins rose 5,000 ounce, which is 12,000 ounces fewer than a week ago. (See the "W" Mint gold bars used to create the coins.)
  • 24-karat American Buffalo gold coins increased by 2,500 for the week, or 2,000 less than last week.
  • 99.9% fine American Eagle silver coins increased 846,000 compared to last week’s advance of 782,000.
  • 99.9% fine America the Beautiful 5 oz bullion silver products added 7,100 coins against the prior week’s 8,000 coins. Increases came from 1,200 of the White Mountain silver coins and 5,900 of the new Perry’s Victory silver coins.

Bullion coin sales for every day this week and totals for 2013 through to June 14 are shown in the following grid.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 3,500 0 0 0 0 513,000
1/2 oz American Eagle Gold Bullion Coins 0 0 0 0 0 42,000
1/4 oz American Eagle Gold Bullion Coins 0 0 0 0 0 78,000
1/10 oz American Eagle Gold Bullion Coins 15,000 0 0 0 0 405,000
1 oz American Buffalo Gold Bullion Coins 2,500 0 0 0 0 151,500
5 oz America the Beautiful Bullion Silver Coins 2,300 4,800 0 0 0 104,000
1 oz American Eagle Bullion Silver Coins 678,500 167,500 0 0 0 23,396,500

 

Bullion Prices in London

In London, bullion prices ended in the same direction on Friday as they did for the week. Friday changes includes losses in:

  • silver of 0.6%,
  • platinum of 0.7% and
  • palladium of 2%

The outlier, gold on Friday eased higher by 0.5%.

Daily prices and weekly percent and net dollar changes for London precious metals are listed in the table below.

London Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $21.81 $21.58 $21.78 $21.83 $21.69 -$0.91
-4.0%
Gold Prices $1,383.25 $1,374.25 $1,382.75 $1,385.00 $1,391.25 $5.25
0.4%
Platinum Prices $1,498.00 $1,487.00 $1,481.50 $1,458.00 $1,448.00 -$57.00
-3.8%
Palladium Prices $759.00 $762.00 $754.00 $743.00 $728.00 -$26.00
-3.4%

 

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: