Gold Reclaims Record, Bullion Prices Mixed Overall

by Bullion Prices Staff on July 25, 2011

U.S. bullion prices were mixed for a third straight session on Monday as gold, silver and palladium climbed while platinum retreated modesty.

Gold reclaimed a new record after having dropped from its previous record set on July 19 in what turned out to be a string of three consecutive daily losses. August gold prices rose $10.70, or 0.7%, to $1,612.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold ranged from $1,603.80 an ounce to $1,624.30 an ounce. U.S. debt worries were among the factors analysts cited in pushing gold prices higher.

"There are ultimately two options — you either have monetization of debt, or you have a move toward fiscal consolidation, and a move toward fiscal sustainability. Until we get the latter, the market will assume the former. That is just a great bid for the gold market," said Natixis analyst Nic Brown, according to Reuters.

In other bullion prices, September silver rose 23.9 cents, or 0.6%, to $40.36 an ounce, September palladium gained $2.60, or 0.3%, to $809.00 an ounce, and October platinum fell $4.40, or 0.2%, to $1,794.00 an ounce.

London Bullion Prices

London bullion prices were mixed on Monday as well. PM fixing prices included the following changes:

  • Gold rose $11.50, or 0.7%, at $1,613.050 an ounce
  • Silver added $1.11, or 2.8%, at $40.78 an ounce
  • Palladium fell $4.50, or 0.6%, at $802.50 an ounce
  • Platinum lost $2, or 0.1%, at $1,791 an ounce

U.S. Mint Bullion Coins

The U.S. Mint’s most popular bullion coins — the American Silver Eagle and the 1oz. American Gold Eagle — were the only sellers on Monday. The Mint reported daily increases of 5,000 for the gold coin and 193,000 for the silver coin.

The latest U.S. Mint bullion coin sales figures are shown in the daily, July 2011 and YTD 2011 columns below.

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 0 10,500 90,000
1 oz American Gold Eagle 5,000 42,000 549,500
1/2 oz American Gold Eagle 0 3,000 58,000
1/4 oz American Gold Eagle 0 0 64,000
1/10 oz American Gold Eagle 0 15,000 265,000
5 oz America the Beautiful Silver 0 11,400 364,500
1 oz American Silver Eagle 193,000 2,510,000 24,813,500


*Notes. Figures above are in coins, not ounces sold. The United States Mint last updated the 5 oz. America the Beautiful Silver Bullion Coin sales on Monday, July 18. All other sales figures are as of Monday, July 25.

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