Gold Prices Up for 4th Day, US Mint Bullion Silver Coin Sales Up for 7th Day

by Bullion Prices Staff on June 13, 2012

Gold on Wednesday marked its fourth straight day of modest gains as safe-haven demand provided support. Gold prices for August delivery inched higher by $5.60, or 0.3%, to $1,619.40 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal traded between $1,607 an ounce and $1,626 an ounce.

"Gold is rising on expectations that the Fed will announce further easing measures," Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview according to Bloomberg.

July silver prices were down less than a penny to $28.94 an ounce. Also lower Wednesday was the September palladium contract with a minor loss of 95 cents at a closing of $623.30 an ounce. The best performing precious metal was platinum. The July futures contract for the PGM metal added $12.40, or 0.9%, to settle at $1,466.80 an ounce.

The following grid offers precious metals futures on a daily basis along with the most recent two-day changes.

New York Futures – Bullion Prices
  Mon Tue Wed Daily Change
July Silver Prices $28.62 $28.41 $29.49 -$0.008
Aug. Gold Prices $1,596.80 $1,616.90 $1,634.20


July Platinum Prices $1,449.30 $1,440.50 $1,469.20 $12.40
Sept. Palladium Prices $625.15 $619.80 $632.80 -$0.95


United States Mint Bullion Gold & Silver Coin Sales

United States Mint silver coin sales are running at an impressive streak of seven daily gains. The Silver Eagles are up 383,500 so far this week. The Mint’s 22-karat Gold Eagles have a solid run of their own going with advances over five consecutive days. 8,000 troy ounces have been purchased by United States Mint distributors this week.

All bullion coin totals are offered in the daily, June and 2012 sales columns below.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed June 2012 Sales
1 oz American Eagle Gold Coins 3,000 2,000 2,500 17,500 247,500
1/2 oz American Eagle Gold Coins 1,000 0 0 1,000 55,000
1/4 oz American Eagle Gold Coins 0 0 0 0 46,000
1/10 oz American Eagle Gold Coins 0 0 0 5,000 155,000
1 oz American Buffalo Gold Coins 500 0 1,500 3,500 68,500
5 oz America the Beautiful Silver Coins 300 00 1,000 2,700 16,300
1 oz American Eagle Silver Coins 158,500 25,000 200,000 1,121,500 15,655,500


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

In a coin news today, read this linked article about one-week 2012 Silver Proof Set sales. The sets were placed on sale June 4th by the United States Mint for a price of $67.95. Comprised of 14 proof coins, 7 of them are composed of 90% silver.

London Bullion Prices

London bullion prices were solidly higher Wednesday except for palladium which just eked out a gain. The following grid provides London PM Fix daily bullion prices this week with the latest two-day increases.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Daily Change
Silver Prices $28.63 $28.54 $28.87 $0.33
Gold Prices $1,584.00 $1,603.50 $1,619.50 $16.00
Platinum Prices $1,452.00 $1,443.00 $1,460.00 $17.00
Palladium Prices $623.00 $624.00 $625.00 $1.00


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