Gold Prices Up, Bullion Coin Jump for 2012 American Silver Eagle

by Bullion Prices Staff on April 9, 2012

U.S. gold prices advanced for a second straight session in the week’s start as reverberations from Friday’s disappointing U.S. jobs report sparked interest in bullion. June gold prices tacked on $13.80, or 0.8%, to¬†$1,643.90 an ounce on the Comex division of the New York Mercantile Exchange. Prices traded between $1,636.70 an ounce and $1,649.90 an ounce.

The jobs data gave investors some "hope" that the Federal Reserve may eventually launch QE3 when the topic was considered essentially dead just a few days earlier.

"In the next few months, the market will not only begin to price in the Fed’s sustained policy but will price in for further monetary action," Reuters quoted James Dailey, portfolio manager of the TEAM Asset Strategy Fund.

Silver and palladium diverged from gold, while platinum tracked the yellow metal.

May silver futures priced dipped 20.6 cents, or 0.6%, to $31.52 an ounce, June palladium futures prices lost $1, or 0.2%, to $643.80 an ounce and July platinum futures prices gained $10.60, or 0.7%, to $1,618.20 an ounce.

United States Mint Bullion Coin Sales – American Silver Eagle Leads

As is often the case in the start of a new week, sales jumped for the bullion 2012 American Silver Eagle. After two days of silence across all of the United States Mint’s bullion coins, the 99.9% fine silver coin rose 240,000. The American Silver Eagle is just shy of 10.7 million in sales for 2012. Its total for April is 560,000. (Speaking of the Eagle, the United States Mint on Thursday at noon ET will launch the 2012 American Silver Eagle Proof Coin for $59.95. This is one of the collector versions of the Silver Eagle, and one of the Mint’s most popular numismatic products.)

In other silver bullion sales for the day, America the Beautiful 5 oz. Silver Bullion Coins added 200 — the first increase for the series since March 26.

United States Mint Authorized Purchasers also ordered gold bullion coins on Monday. The 1 oz. Gold Eagle rose 500 and the Gold Buffalo climbed 1,000.

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

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

London Bullion Prices

London bullion prices were unchanged Monday as UK commodities markets have been closed since Friday for the Easter holiday.

London Fixings (PM)
  Thurs Daily Gain
Silver Prices $31.27 N/A
Gold Prices $1,631.00 N/A
Platinum Prices $1,592.00 N/A
Palladium Prices $635.00 N/A


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