Gold Prices Up on Week, Bullion Gold and American Silver Eagle Coins Updated

by Bullion Prices Staff on April 28, 2012

Bullion prices pulled ahead for a second straight day Friday but precious metals results were mixed overall this week as gold and palladium rose 1.3% and 0.7%, respectively, while silver and platinum fell 0.8% and 0.5%.

In closing Friday, gold prices gained $4.30, or 0.3%, to $1,664.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices ranged between $1,651.10 an ounce and $1,668.40 an ounce. Expectations are for higher prices next week, according to some analysts.

"Gold prices may build on gains established late this week, as market participants look at technical charts and renewed concerns about the eurozone’s economic health for direction in next week’s trade," wrote Debbie Carlson of Kitco.

"In the Kitco gold survey out of 33 participants, 26 responded this week. Of those 26 participants, 21 see prices up, while three see prices down, and two are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts."

In other New York futures on Friday, July silver prices gained 13.5 cents, or 0.4%, to $31.41 an ounce, June palladium prices added $8.85, or 1.3%, to $681.50 an ounce and July platinum prices gained $5.50, or 0.4%, to $1,575.70 an ounce.

United States Mint Bullion Coin Sales

Similar to last week, sales of United States Mint bullion coins occurred on just two of five days this week, with silence on them from Tuesday-Thursday. Such infrequent additions speak volumes as Gold and American Silver Eagle coins are showing weak sales as a result. Weekly gains were much improved over the prior one — 440,000 versus 100,000 for the Silver Eagles and 4,500 ounces against 4,000 ounce of Gold Eagles, but monthly levels could end up as the slowest since 2008.

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 Tue Wed Thurs Fri April 2012 Sales
1 oz American Gold Eagle 1,000 0 0 0 3,000 19,000 181,000
1/2 oz American Gold Eagle 0 0 0 0 0 0 51,000
1/4 oz American Gold Eagle 2,000 0 0 0 0 2,000 42,000
1/10 oz American Gold Eagle 0 0 0 0 0 5,000 135,000
1 oz American Buffalo Gold Coins 2,000 0 0 0 0 9,000 55,500
5 oz America the Beautiful Silver Coins 0 0 0 0 0 200 8,000
1 oz American Silver Eagle 400,000 0 0 0 40,000 1,320,000 11,459,000

 

Notes: The sales figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, April 9, 2012. All other bullion figures have an "as of date" of Friday, April 27, 2012, as published on the Mint website.

Major news of the week was the release of additional information on the upcoming Silver Eagle proof set that the United States Mint will offer between June 7 to July 5. The first-time, unique two-coin proof set will include a reverse proof American Silver Eagle and a regular proof American Silver Eagle, both minted in San Francisco and carrying the ‘S’ mintmark.

London Bullion Prices

London bullion prices moved in the same direction as futures in New York. They were higher Friday but split for the week as silver and platinum logged weekly losses. The following grid offers London PM Fix daily bullion prices with gains and losses over the most recent two-day period.

London Bullion Prices and Their Fixings (PM)
  Mon Tue Wed Thurs Fri Daily Gain
($/%)
Weekly Gain
($/%)
Silver Prices $31.16 $30.86 $30.88 $30.70 $31.14 $0.44
1.4%
-$0.65
-2.0%
Gold Prices $1,629.00 $1,649.50 $1,637.75 $1,653.50 $1,663.50 $10.00
0.6%
$22.00
1.3%
Platinum Prices $1,553.00 $1,553.00 $1,551.00 $1,555.00 $1,573.00 $18.00
1.2%
-$6.00
-0.4%
Palladium Prices $666.00 $674.00 $665.00 $659.00 $677.00 $18.00
2.7%
$11.00
1.7%

 

Refer to this site’s home page for always updated bullion prices and news.

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