Gold, Silver Prices Down on Week; US Bullion Coins in April Start

by Bullion Prices Staff on April 6, 2013

U.S. gold and silver prices rallied Friday but the two metals still ended lower than last week. Losses were 1.2% for gold and 3.9% for silver. PGM’s also declined on the week, down a whopping 5.8% for palladium and off 2.5% for platinum.

As for Friday, gold futures for June delivery surged $23.50, or 1.5%, to end the day at $1,575.90 an ounce on the Comex division of the New York Mercantile Exchange. The rally brought gold prices up from a nine-month low. On Thursday, gold had dropped $22.40 to $1,553.50 an ounce, its lowest price since June 28.

Some analysts expect that gold prices will rebound more in the coming days.

"A lower-than-expected monthly U.S. jobs report facilitated gold’s bounce from a 21-month low on Friday and several gold market watchers said the yellow metal might see buying continue into next week," notes Debbie Carlson from the news division of Kitco Metals.

"In the Kitco News Gold Survey, out of 34 participants, 29 responded this week. Of those 29 participants, 19 see prices up, while six see prices down, and four see prices moving sideways or are neutral."

In other New York bullion futures prices:

  • May silver prices gained 45.3 cents, or 1.7%, to $27.22 an ounce,
  • June palladium prices declined $1.55, or 0.2%, to $723.90 and
  • April platinum prices gained $17.70, or 1.2%, to $1,535.50 an ounce

For 2013 so far, silver has dived 9.9% — the most in precious metals, gold has fallen 6%, palladium has advanced 2.9% and platinum has dipped 0.4%

New York bullion prices on the day and their weekly changes follow.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $27.94 $27.25 $26.80 $26.77 $27.22 -$1.10
-3.9%
Gold Prices $1,600.90 $1,575.90 $1,553.50 $1,552.40 $1,575.90 -$19.80
-1.2%
Platinum Prices $1,598.80 $1,574.20 $1,541.90 $1,517.80 $1,535.50 -$39.10
-2.5%
Palladium Prices $783.95 $769.40 $755.45 $725.45 $723.90 -$44.35
-5.8%

 

Sales of United States Mint Bullion Coins in April

Bullion sales were higher this week for U.S. Mint gold coins but softer for silver coins, though Silver Eagles did set a fresh new early high for a year. In breaking down weekly bullion sales which are also for April so far:

  • American Eagle gold bullion coins totaled 22,000 ounces versus the 16,500 ounces from last week.
  • American Eagle silver bullion coins reached 812,000 against the prior week’s 918,500. The addition put Silver Eagle sales for the year over 15 million, the quickest that has ever happened in the coin’s 27-year history.
  • American Buffalo gold bullion coins added 2,000 compared to the previous week’s 1,000.

U.S. Mint bullion products with sales by day and for the year to date follow.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed Thurs Fri 2013 Sales
1 oz American Eagle Gold Bullion Coins 1,500 5,000 7,000 5,500 0 265,500
1/2 oz American Eagle Gold Bullion Coins 0 1,000 0 0 0 27,000
1/4 oz American Eagle Gold Bullion Coins 0 0 2,000 0 0 48,000
1/10 oz American Eagle Gold Bullion Coins 5,000 5,000 10,000 0 0 235,000
1 oz American Buffalo Gold Bullion Coins 0 500 1,500 0 0 97,000
5 oz America the Beautiful Silver Bullion Coins* 0 0 0 0 0 63,100
1 oz American Eagle Silver Bullion Coins 812,000 0 0 0 0 15,035,000

 

*The United States Mint has not issued any of the 2013 America the Beautiful Silver Bullion Coins. Prior year coins have sold out.

For a recap on bullion coin performances in March and the first quarter 2013, read this bullion coin news article.

Bullion Prices in London

Metals in London split Friday with all but palladium higher. In percentages across the precious metals, palladium shed 2.3% with advances of 1.4% for gold, 0.6% for silver and 0.3% for platinum. All the metals declined in the holiday-shortened week. The weekly percent and net changes are listed in the following table.

London Bullion Prices
  Mon* Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices - $27.96 $27.19 $26.80 $26.97 -$1.67
-5.8%
Gold Prices - $1,583.50 $1,574.75 $1,546.50 $1,568.00 -$30.25
-1.9%
Platinum Prices - $1,579.00 $1,569.00 $1,526.00 $1,531.00 -$45.00
-2.9%
Palladium Prices - $773.00 $765.00 $737.00 $720.00 -$50.00
-6.5%

 

*London markets closed for Easter Monday.

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