Gold Prices Up on Week, Silver Down, US Bullion Coins Stronger

by Bullion Prices Staff on September 28, 2013

Bullion prices ended higher Friday although that did not help silver and platinum log weekly gains since silver declined 0.4% from a week ago and platinum lost 0.9%. Gold and palladium did rise on the week with respective increases of 0.5% and 1.4%.

As for Friday, gold prices for December delivery rallied $15.10, or 1.1%, to settle at $1,339.20 an ounce on the Comex division of the New York Mercantile Exchange. The Federal Reserve’s monetary policy and US government shutdown scenarios have played in the news, with investors watching closely.

"Gold prices have stabilized, and they could remain supported as the U.S. reaches the debt ceiling. However, we believe the focus of investors remains firmly on a gradual normalization of U.S. monetary policy. Hence, our base case anticipates sustained headwinds to gold prices," said Daniel Lian and other Bank of America Merrill Lynch analysts in a note.

In other metals, silver prices for December delivery gained 6.5 cents, or 0.3%, to finish at $21.83 an ounce, or 10 cents lower than last week. Then in PGMs, December palladium prices added $8.35, or 1.2%, to $731.80 an ounce and January platinum prices added $4.50, or 0.3%, to $1,419.20 an ounce.

New York bullion futures prices per day and by the net changes for the week are listed in the table below.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $21.86 $21.59 $21.89 $21.77 $21.83 -$0.10
-0.4%
Gold Prices $1,327.00 $1,316.30 $1,336.20 $1,324.10 $1,339.20 $6.70
0.5%
Platinum Prices $1,425.90 $1,418.80 $1,428.80 $1,414.70 $1,419.20 -$13.40
-0.9%
Palladium Prices $717.95 $720.00 $725.70 $723.45 $731.80 $9.85
1.4%

 

September Sales of United States Mint Bullion Coins

In total ounces, sales remained even for silver bullion coins at 675,000 ounces, that same as last week, and gold bullion coins improved to 8,500 ounces versus 4,500 ounces previously. Across all the bullion coins this week:

  • American Eagle gold coins added 4,000 ounces as compared to the prior weekly total of 3,500 ounces.

  • American Buffalo gold coins jumped 4,500 whereas they gained 1,000 ounces a week ago.

  • American Eagle silver coins added 675,000, the same amount as last week.

  • America the Beautiful 5 oz bullion silver coins were flat for a second consecutive week. If you would like to learn more about this series, read how the five ounce coins are made at the US Mint facility in Philadelphia.

Available in the table below are US Mint bullion sales by day for this week and the YTD totals to September 27, 2013.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 2,000 0 0 0 0 605,000
1/2 oz American Eagle Gold Bullion Coins 1,000 2,000 0 0 0 53,000
1/4 oz American Eagle Gold Bullion Coins 2,000 0 0 0 0 104,000
1/10 oz American Eagle Gold Bullion Coins 0 0 0 0 0 465,000
1 oz American Gold Buffalo Bullion Coins 3,500 0 0 0 1,000 200,00
5 oz America the Beautiful Bullion Silver Coins 0 0 0 0 0 173,100
1 oz American Eagle Bullion Silver Coins 656,500 0 0 0 18,500 35,600,000

 

Bullion Prices in London

London bullion prices split Friday with gold and palladium higher and silver and platinum lower. In net changes from the PM fixings on Thursday to Friday:

  • Gold rose $8, or 0.6%
  • Silver shed 36 cents, or 1.6%
  • Palladium added $1, or 0.1%
  • Platinum dipped $8, or 0.6%

London PM fix prices for every day this week and the weekly percent and net dollar changes are below.

London Bullion Prices (PM)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $21.68 $21.44 $21.68 $21.97 $21.61 -$1.13

-5.0%
Gold Prices $1,323.00 $1,314.25 $1,322.75 $1,333.00 $1,341.00 -$8.25
-0.6%
Platinum Prices $1,424.00 $1,422.00 $1,426.00 $1,424.00 $1,416.00 -$31.00

-2.1%
Palladium Prices $711.00 $713.00 $719.00 $724.00 $725.00 -$1.00
-0.1%

 

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