Gold, Silver Prices Rebound, Bullion US Coins Flat

by Bullion Prices Staff on May 30, 2012

Gold rebounded Wednesday to reclaim nearly three-quarters of the previous day’s $22.20 loss. Gold prices for August delivery added $14.70, or 0.9%, to┬áhit $1,565.70 an ounce on the Comex division of the New York Mercantile Exchange. The day’s trading range was wide with gold moving between $1,532.10 an ounce and $1,570.90 an ounce.

"Gold did function as a flight-to-safety vehicle, but only to a small degree and we can very easily test those lows again tomorrow or the next day," said Bill O’Neill, partner at commodities wealth manager LOGIC Advisors, according to Reuters. "There was still not much vitality and we still don’t see any speculative fervor," O’Neill said.

In other New York futures, July silver prices added 19.2 cents, or 0.7%, to $27.98 an ounce, September palladium prices gained 45 cents, or 0.1%, to $606.50 an ounce and July platinum prices fell $26.90, or 1.9%, to $1,401.20 an ounce.

The following grid offers precious metals futures on a daily basis along with the most recent day’s gains and losses.

New York Futures – Bullion Prices
  Mon Tue Wed Daily Gains
July Silver Prices N/A $27.79 $27.98 $0.192
August Gold Prices N/A $1,551.00 $1,565.70 $14.70
July Platinum Prices N/A $1,428.10 $1,401.20 -$26.90
September Palladium Prices N/A $606.05 $606.50 $0.45


United States Mint Bullion Coin Sales

Sales of United States Mint bullion coins were flat Wednesday. Increases were noted across the 1 oz. coins on Tuesday, the day after the extended U.S. holiday weekend. Those increases and the most recent bullion coin totals are offered in the daily, May and 2012 sales columns below.

Sales of United States Mint 2012 Bullion Coins
  Mon Tue Wed May 2012 Sales
1 oz American Eagle Gold Coins 0 2,000 0 46,000 227,000
1/2 oz American Eagle Gold Coins 0 0 0 3,000 54,000
1/4 oz American Eagle Gold Coins 0 0 0 4,000 46,000
1/10 oz American Eagle Gold Coins 0 0 0 15,000 150,000
1 oz American Buffalo Gold Coins 0 500 0 8,500 64,000
5 oz America the Beautiful Silver Coins 0 200 0 200 8,200
1 oz American Eagle Silver Coins 0 397,500 0 2,750,000 14,409,000


Notes: The sales of bullion coins 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 Tuesday, May 29, 2012. All other bullion figures have an "as of date" of Wednesday, May 30, 2012, as published on the Mint website.

In coin news, lower platinum prices resulted in reduced Platinum Eagle coin prices. The United States Mint on Wednesday changed the price of the collector proof Platinum Eagle from from $1,792 to $1,692. In other news, the bureau also released its El Yunque 5 Oz. Silver Coin. Priced at $204.95, the coin is the first of five 2012 America the Beautiful Five Ounce Silver Uncirculated Coins.

London Bullion Prices

Precious metals moved lower in tandem Wednesday. The following grid offers London PM Fix daily bullion prices with the most recent daily losses.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Daily Losses
Silver Prices $28.52 $28.25 $27.68 -$0.57
Gold Prices $1,574.60 $1,579.50 $1,540.00 -$39.50
Platinum Prices $1,438.00 $1,435.00 $1,410.00 -$25.00
Palladium Prices $601.00 $608.00 $601.00 -$7.00


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

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