Gold Rises, Silver Jumps, 1 oz Bullion Eagles Gain

by Bullion Prices Staff on July 22, 2010

U.S. gold advanced Thursday for a third consecutive day. Bargain buying, a higher euro, prospects of a weaker dollar and surging oil were among the cited factors in pulling bullion prices higher.

"Comex gold futures prices closed modestly higher Thursday, as higher crude oil prices and a rallying Euro currency prompted some fresh buying interest in the precious yellow metal," noted Jim Wyckoff of Kitco News. "However, gains in gold were limited by an increase in investor risk appetite that did take away the safe-haven buying interest that had boosted the gold market in recent months."

In New York precious metals prices, August gold was $1,195.60 an ounce for an increase of $3.80 or 0.3%. Gold’s lowest intraday price was $1180.70 an ounce while it hit a high price of $ $1201.20 an ounce.

September silver was $18.120 an ounce, adding 31.7 cents. It enjoyed the biggest percent gain of any precious metal at 1.8%.

In PGM metals, October platinum was $1,529.40 an ounce for a loss of 40 cents while September palladium was $456.90 an ounce for an increase of $4.75 or 1.1%.

InĀ London bullion prices, the afternoon gold fix was $1,199.50 an ounce for a gain of $8 or 0.7%.

"The better European data really seems to change psychology, and the excellent earnings numbers have created amore positive economic outlook that is supportive of gold," Bill O’Neill, partner of New Jersey-based commodities firm LOGIC Advisors said on Reuters.

London silver was $17.820 an ounce, falling 6 cents or 0.3%. And in PGM metals, platinum was $1,519.00 an ounce for a loss of $5 or 0.3% while palladium was $449.00 an ounce, declining $4 or 0.9%.

U.S. Mint Bullion Eagles, Gold Fractionals and Buffalo Coins Rise

Numismatic coin sales through to Sunday and a review of bullion coin demand up until Wednesday may be read in the article 2010 Mint Uncirculated Sets Debut, Silver Eagle Coins Pass 20M.

Since Tuesday’s article on, the following bullion gains were made:

  • One-ounce 22-karat bullion American Gold Eagles soared 14,000
  • One-ounce 24-karat bullion Buffalo coins increased by 2,000

Silver Eagles and fractional Gold Eagles were unchanged. The latest sales totals for the month and year follow:

U.S. Mint Bullion Coin July 2010 Sales

American Buffalo Gold 33,500 20,000 180,500
American Eagle Gold 1 oz 97,000 94,000 712,500
American Eagle Gold 1/2 oz 31,000 1,000 32,000
American Eagle Gold 1/4 oz 44,000 2,000 46,000
American Eagle Gold 1/10 oz 280,000 30,000 310,000
American Eagle Silver 3,001,000 1,935,500 20,104,000


Figures above are in coins, not ounces of gold sold.

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