Gold, Silver Prices Rise Modestly, Bullion Coins Advance

by Bullion Prices Staff on June 16, 2011

U.S. bullion prices split Thursday. Gold and silver prices rose slightly while palladium and platinum prices declined. For the day, August gold prices advanced $3.70, or 0.2%, to $1,529.90 an ounce. Gold traded from a low of $1,522 an ounce to a high of $1,534 an ounce.

"Greece is facing a number of difficulties and obstacles right now. If it can meet some of these challenges, you will see a flight back to the risk assets and maybe less to safety," Phillip Streible, senior market strategist with Lind Waldock, was cited on Reuters. "For now, gold gets the benefit of being a safe haven."

In other major precious metals prices, July silver prices advanced 14.9 cents, or 0.4 percent, to $35.56 an ounce, September palladium declined $12.50, or 1.6%, to $763.50 an ounce, and July platinum declined $13.50, or 0.8%, to $1,760.70 an ounce.

London Bullion Prices

London bullion prices split for a second day. PM fixing prices included the following changes:

  • Gold fell $6.50, or 0.4% at $1,523.50 an ounce
  • Silver advanced 29 cents, or 0.8%, at $35.55 an ounce
  • Palladium declined $27, or 3.4%, at $758
  • Platinum declined $30, or 1.7%, at $1,754 an ounce

United States Mint Bullion Coins

U.S. Mint American Silver Eagles advanced 91,500, rising for a second straight day. The new additions bring year-to-date sales toward 20.7 million. For the first time this month, American Gold Buffalo bullion coins were added to the sales board. The 24-karat gold pieces advanced a modest 500 to stand at 74,500 for the year. The 1 oz 22-karat American Gold Eagles also rose by 500. They are at 481,500 for the year.

In U.S. Mint bullion news of the day, the agency announced that it would release the Vicksburg 5 oz silver bullion coins on Monday. Like the previous two issues of this year, their maximum mintage is 126,700. The coin is the ninth issue in the Mint’s America the Beautiful 5 oz Silver Bullion Coin Program.

Daily, June 2011 and YTD 2011 bullion sales are available in the table below:

United States Mint 2011 Bullion Coin Sales
1 oz American Gold Buffalo 500 500 74,500
1 oz American Gold Eagle 500 30,000 481,500
1/2 oz American Gold Eagle 0 0 55,000
1/4 oz American Gold Eagle 0 0 56,000
1/10 oz American Gold Eagle 0 20,000 235,000
5 oz America the Beautiful Silver 0 0 326,800
1 oz American Silver Eagle 91,500 1,773,500 20,675,000

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 May 26. All other sales figures are as of Thursday, June 16.

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