Gold, Silver Prices Down Again, US Gold Bullion Coin Sales Up

by Bullion Prices Staff on May 23, 2012

Gold and silver prices declined for a third straight session on Wednesday. Losses on the day were the biggest of the week as commodities were pressured by stronger greenback as the European debut saga continues.

"The instability within the euro zone resulted in a selloff across risk assets, pushing the U.S. dollar higher and commodity prices lower," said Luke Mathews, an analyst at Commonwealth Bank of Australia, according to Bloomberg.

Gold prices for June delivery declined $28.20, or 1.8%, to close at $1,548.40 an ounce on the Comex division of the New York Mercantile Exchange, trading between $1,532.80 an ounce and $1,568.50 an ounce.

Silver prices for June delivery tumbled 66 cents, or 2.3%, to settle at $27.52 an ounce.

In PGM futures, June palladium prices were down $24.45, or 4%, to $591.10 an ounce and July platinum prices stepped back $44.30, or 3%, to $1,414.10 an ounce.

The following grid offers New York precious metals futures on a daily basis along with weekly gains and losses.

New York Futures – Bullion Prices
  Mon Tue Wed Daily Gain
July Silver Prices $28.32 $28.18 $27.52 -$0.66
June Gold Prices $1,588.70 $1,576.60 $1,548.40 -$28.20
July Platinum Prices $1,461.50 $1,458.40 $1,414.10 -$44.30
June Palladium Prices $610.80 $615.55 $591.10 -$24.45


United States Mint Bullion Gold & Silver Coin Sales

The United States Mint reported sales gains across thee of four American Eagle gold coins. For the 1/2 oz. and 1/4 oz. Gold Eagles, is was their second increase of the week and of the month. While their monthly totals remain relatively small, each is the best since January.

Also rising Wednesday was the Silver Eagle, up 100,000. A bit more than 400,000 more and May will turn into the second best month of sales for the coins. That is a huge turnaround based on how they were doing during the first half of May.

The most recent bullion coin totals are offered in the daily, May and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed May 2012 Sales
1 oz American Eagle Gold Coins 3,500 0 1,000 40,000 221,000
1/2 oz American Eagle Gold Coins 2,000 0 1,000 3,000 54,000
1/4 oz American Eagle Gold Coins 2,000 0 2,000 4,000 46,000
1/10 oz American Eagle Gold Coins 10,000 0 0 15,000 150,000
1 oz American Buffalo Gold Coins 1,500 0 0 7,000 62,500
5 oz America the Beautiful Silver Coins 0 0 0 0 8,000
1 oz American Eagle Silver Coins 477,500 0 100,000 2,117,500 13,776,500


Notes: The bullion coin sales above are in numbers sold, 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 Wednesday, May 23, 2012, as published on the Mint website.

Two coin news items of the day:

The first article offers the latest weekly sales figures for United States Mint silver products. The 9/11 Silver Medals from West Point made a surprising jump. The second article is about newly introduced Senate legislation that would authorized clad, gold and silver commemorative coins in 2016 in honor of the Pro Football Hall of Fame.

London Bullion Prices

Like bullion futures in New York, earlier fixed London bullion prices were lower across the board. The following grid offers London PM Fix daily bullion prices with weekly gains and losses.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Daily Gain
Silver Prices $28.39 $28.07 $27.76 -$0.31
Gold Prices $1,592.50 $1,582.50 $1,549.00 -$33.50
Platinum Prices $1,458.00 $1,458.00 $1,430.00 -$28.00
Palladium Prices $611.00 $612.00 $607.00 -$5.00


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

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