Palladium Prices Soar 4.6% on Week, Bullion American Eagle Coins Crawl

by Bullion Prices Staff on April 20, 2012

Bullion prices were mixed Friday and for the week. The only consistent movement was from palladium which surged ahead for both. In terms of increases across precious metals this week, palladium prices jumped 4.6% and silver added 0.8%. Losses included gold at 1% and platinum at 0.2%.

On Friday, gold prices settled up $1.40, or 0.1%, to $1,642.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold moved between a low of  $1,638.60 an ounce and a high of $1,648.20 an ounce. The direction of gold prices next week is expected to depend highly on movements of the U.S. dollar, according to analysts.

"The direction of the U.S. dollar versus the euro and a meeting of the Federal Reserve’s monetary-policy committee will influence the direction for the precious metals markets next week," writes Debbie Carlson of Kitco News.

"Weekend events, such as the outcome of the International Monetary Fund meeting and the first round of French presidential elections, may also impact precious-metals prices."

In other New York bullion prices on Friday, May silver futures fell 12.8 cents, or 0.4%, to $31.65 an ounce, June palladium prices gained $13.60, or 2.1%, to $676.90 an ounce, and July platinum futures added $6.20, or 0.4%, to $1,584.20 an ounce.

United States Mint Bullion Coin Sales

Not a lot of action was seen this week in United States Mint bullion coins. Advances were published by the bureau only on two days — Monday and Wednesday. American Gold Eagles in the 1 oz. size rose for both days by a combined total of 4,000 ounces. The American Silver Eagles gained only on Monday with 100,000 — the worst weekly performance of the year.

As comparisons, in gold bullion last week, 11,500 ounces were moved. 461,000 ounces of silver bullion sold in the previous week.

The most recent bullion coin totals are offered in the daily, monthly and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed Thurs/
Fri
April 2012 Sales
1 oz American Eagle Gold Coins 1,000 0 3,000 0 15,000 177,000
1/2 oz American Eagle Gold Coins 0 0 0 0 0 51,000
1/4 oz American Eagle Gold Coins 0 0 0 0 0 40,000
1/10 oz American Eagle Gold Coins 0 0 0 0 5,000 135,000
1 oz American Buffalo Gold Coins 0 0 0 0 7,000 53,500
5 oz America the Beautiful Silver Coins 0 0 0 0 200 8,000
1 oz American Silver Eagle 100,000 0 0 0 880,000 11,019,000

Notes: Figures above are in coins, not ounces sold. The United States Mint last updated sales of its 5 oz. America the Beautiful Silver Bullion Coins on Monday, April 9, 2012. All other bullion sales have an "as of date" of Friday, April 20, 2012, as published on the Mint website.

The biggest news this week out of the United States Mint was the release of the new Proof American Gold Eagle Coins. While their prices can change weekly, beginning prices were:

  • $1,935.00 for the 1 oz,
  • $981.00 for the 1/2 oz,
  • $503.00 for the 1/4 oz,
  • $215.50 for the 1/10 oz, and
  • $3,585.50 for the four-coin set which includes one coin of each size

The collectible proof coins may be purchased through the United States Mint website at http://www.usmint.gov.

London Bullion Prices

London bullion prices were split Friday and mostly down on the week. Like precious metals futures in New York, palladium was the standout. The following grid offers London PM Fix daily prices with gains and losses over the most recent two-days and for the week.

London Bullion Prices And Their Fixings (PM)
  Mon Tue Wed Thurs Fri Daily Gain
($/%)
Weekly Gain
($/%)
Silver Prices $31.32 $31.64 $31.61 $31.47 $31.79 $0.32
1.0%
-$0.58
-1.8%
Gold Prices $1,653.00 $1,635.50 $1,644.00 $1,650.00 $1,641.50 -$8.50
-0.5%
-$25.00
-1.5%
Platinum Prices $1,570.00 $1,574.00 $1,578.00 $1,574.00 $1,579.00 $5.00
0.3%
-$21.00
-1.3%
Palladium Prices $645.00 $653.00 $657.00 $657.00 $666.00 $9.00
1.4%
$23.00
3.6%

 

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

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