Gold, Silver Prices Up for 2nd Day, Bullion Coins Unchanged

by Bullion Prices Staff on November 3, 2011

Precious metals, including gold and silver prices, advanced Thursday for a second straight session as safe-haven demand continued to grow. December gold futures added $35.50, or 2.1%, to $1,765.10 an ounce an ounce on the Comex division of the New York Mercantile Exchange.¬†Gold’s closing price was its best since Sept. 21. The yellow metal reached a high of $1,768.30, the best intraday amount since Sept. 22.

"It feels like we are back to square one with questions about Greece backing out of the rescue plan and its possible ejection from the EU. Expect the safe-haven angle to keep the entire precious group trading higher," Reuters quoted said Miguel Perez-Santalla, vice president of Heraeus Precious Metals Management.

Silver performed a bit better than gold, rising 2.1%. Silver prices for the December futures contract settled at $34.50 an ounce, gaining 55.5 cents.

In percentage terms, palladium matched silver’s 2.1% increase while platinum was the biggest gainer in precious metals with its 2.9% advance. In dollar terms, December palladium futures prices added $13.45 to $662.10 an ounce and January platinum futures prices added $45.70 to $1,647 an ounce.

London Bullion Prices

London bullion prices advanced as well. Changes from the Thursday PM to Wednesday PM fixings in London show that:

  • Gold gained $15, or 0.9%, to $1,758 an ounce
  • Silver prices rose 89 cents, or 2.6%, to $34.72 an ounce
  • Palladium added $15, or 2.3%, to $661 an ounce
  • Platinum gained $16, or 1%, to $1,625 an ounce

United States Mint Bullion Coins

According to published sales data from the United States Mint website, it did not sale any of its bullion coin products Thursday. That marks a second consecutive day where bullion coin gains came in at zero.

In related news, the United States Mint did finalize bullion sales totals for October. For a look at how its bullion Silver Eagles performed during the month, read the article: Silver Eagle sales in October. Also in the news, the Mint this week raised coin prices on all of its collectible gold and platinum products. The increases were made as a result of higher precious metals prices over the last week.

In returning to bullion coins, the latest available sales figures are provided below in the daily, weekly, October 2011 and YTD 2011 columns.

United States Mint 2011 Bullion Coin Sales
  Thursday Gain November 2011 2011 Totals
1 oz American Gold Buffalo 0 500 145,500
1 oz American Gold Eagles 0 4,000 810,000
1/2 oz American Gold Eagles 0 0 65,000
1/4 oz American Gold Eagles 0 2,000 80,000
1/10 oz American Gold Eagles 0 0 355,000
5 oz America the Beautiful Silver not reported 390,000
1 oz American Silver Eagles 0 25,000 36,500,500


Notes. Figures above are in coins, not ounces sold. The United States Mint last updated 5 oz. America the Beautiful Silver Bullion Coin sales on Monday, October 31, 2011. All other figures have an "as of date" of Thursday, November 3, 2011.

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