Gold, Silver Prices Edge Lower; U.S. Bullion Coins Flat

by Bullion Prices Staff on July 27, 2011

U.S. bullion prices dipped mostly lower Wednesday as investors stepped in to take profits after three straight days of gains for gold and silver.

Gold futures ended nearer to the session low. August gold prices slipped $1.70, or 0.1%, to $1,615.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded between $1,608.90 an ounce and $1,628.80 an ounce.

"A lot of people rode the wave higher in gold, so there are itchy trigger fingers when it comes to booking profit," Matt Zeman, a strategist at Kingsview Financial in Chicago, said in a telephone interview, according to Bloomberg.

In other futures bullion prices, September silver prices retreated 13.0 cents, or 0.3%, to $40.57 an ounce and September palladium dropped $2.90, or 0.3%, to $833.20 an ounce. Platinum was the exception Wednesday in precious metals. It bucked the trend, but barely. October platinum prices added 80.0 cents to $1,808.00 an ounce.

London Bullion Prices

London bullion prices pushed higher in tandem. PM fixing prices included the following changes:

  • Gold added $12.25, or 0.8%, at $1,625 an ounce
  • Silver prices rose 47 cents, or 1.2%, at $40.81 an ounce
  • Palladium added $30, or 3.7%, at $842 an ounce
  • Platinum rose $27, or 1.5%, at $1,814 an ounce

U.S. Mint Bullion Coins

The U.S. Mint on Wednesday reported no additional sales of its bullion coins after a sharp previous day increase of 15,000 for its American Gold Eagle.

In noteworthy U.S. Mint related articles of the the day, with again emphasis on the bureau’s five ounce coins:

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 0 57,000 564,500
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 16,300 369,400
1 oz American Silver Eagle 0 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 25. All other bullion sales figures are as of Wednesday, July 27.

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