Gold, Silver Prices Jump; Bullion Silver Coin Gains

by Bullion Prices Staff on October 25, 2011

U.S. gold and silver prices rallied Tuesday, as did the major metals palladium and platinum. Gains in gold were said to have been supported by worries that Europe’s debt problems will not get resolved any time soon. On the Comex division of the New York Mercantile Exchange, December gold futures jumped $48.10, or 2.9%, to $1,700.40 an ounce.¬†Gold ranged from an intraday low of $1,644.60 to a high of $1,704.70 an ounce.

"Gold is getting support because there is a general consensus that there will be Fed-induced stimulus to support growth in U.S. at a time when Europe may go into recession because of the debt crisis," Paul Dietrich, the chief executive officer of Foxhall Capital Management Inc., said in a telephone interview that was relayed via Bloomberg.

In other New York futures prices, December silver futures gained $1.41, or 4.4%, to $33.05 an ounce, December palladium futures rose $13.60, or 2.1%, to $652.10 an ounce and January platinum futures added $26.80, or 1.7%, to $1,568.80 an ounce.

London Bullion Prices

London bullion prices moved in the same positive direction as futures in New York, but gains were less robust. Changes from the Monday PM to Tuesday PM fixings in London show that:

  • Gold prices rose $4, or 0.2%, to $1,656 an ounce
  • Silver added 30 cents, or 0.9%, to $32 an ounce
  • Palladium added $6, or 1%, to $637 an ounce
  • Platinum added $6, or 0.4%, to $1,543 an ounce

United States Mint Bullion Coins

While each of the United States Mint’s bullion coins advanced Monday, only the American Eagle Silver bullion coin rose Tuesday. It gained 125,000. The latest available bullion sales are provided below in the daily, October and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales Figures
  Tuesday
Advances
October
Advances
2011
Totals
1 oz American Buffalo Gold 0 12,500 145,000
1 oz American Eagle Gold 0 41,000 801,000
1/2 oz American Eagle Gold 0 3,000 65,000
1/4 oz American Eagle Gold 0 6,000 78,000
1/10 oz American Eagle Gold 0 10,000 355,000
5 oz America the Beautiful Silver not reported 389,700
1 oz American Eagle Silver 167,000 2,929,000 36,335,500

 

Notes. Figures above are in coins, not ounces sold. All figures have an “as of date” of Tuesday, October 25, 2011.

In United States Mint coin news of the day, the agency released its Glacier 5 Oz. Silver Coin. Minted for collectors, the Glacier coin weighs five ounces and is composed of .999 fine silver. It is available directly from the Mint website at http://www.usmint.gov for $229.95.

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