Weekly Gold, Silver Prices Plummet, US Bullion Coin Sales Rally

by Bullion Prices Staff on June 23, 2012

Gold advanced Friday but the sharp drop on Thursday combined with losses on the prior three days totaled to a weekly 3.8% plunge. Gold prices for August delivery added $1.40, or 0.1%, to close at $1,566.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold moved between an intraday low of $1,558.60 an ounce and a high of $1,573.20 an ounce.

Gold failed to glean any great deal of investor safe-haven appeal despite deepening concerns over the global economic situation. Deflation talk ruled Friday.

"After a sharp sell-off this week on concerns the global economy is slowing and disinflation may be taking hold, market watchers said they’re keeping an eye on events in Europe and whether precious metals can hold above the lower-end of recent trading ranges," noted Debbie Carlson of Kitco News.

"In the Kitco gold survey, out of 33 participants, 28 responded this week. Of those 28 participants, 12 see prices up, while nine see prices down, and seven are neutral."

In other New York futures prices on Friday, July silver prices declined 17.8 cents, or 0.7%, to $26.66 an ounce, September palladium prices fell $1.35, or 0.2%, to $607.20 an ounce and July platinum prices declined $7.40, or 0.5%, to to $1,431.20 an ounce.

The following grid offers precious metals futures on a daily basis along with the most recent weekly changes.

New York Futures – Bullion Prices
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
July Silver Prices $28.67 $28.37 $28.39 $26.84 $26.66 -$2.08
-7.2%
Aug. Gold Prices $1,627.00 $1,623.20 $1,615.80 $1,565.50 $1,566.90

-$61.20
-3.8%

July Platinum Prices $1,484.10 $1,480.50 $1,466.80 $1,438.60 $1,431.20 -$56.00
-3.8%
Sept. Palladium Prices $633.15 $629.40 $619.50 $608.55 $607.20 -$23.20
-3.7%

 

United States Mint Bullion Sales

Weekly United States Mint bullion coin sales rose sharply.

  • In gold bullion, sales this week rose to 24,000 ounces versus the prior week’s 14,500 ounces
  • In silver bullion, weekly sales were 720,000 ounces against the previous 632,500 ounces

Gains were exceptionally sharp on Thursday and Friday as distributors ordered coins at much cheaper prices than just a few days previous.

The latest United States Mint bullion coin sales totals are offered in the daily, June and 2012 sales columns below.

United States Mint 2012 Bullion Coin Sales
  Mon Tue Wed Thurs Fri June 2012 Sales
1 oz American Eagle Gold Coins 0 3,500 0 6,500 9,500 40,000 270,000
1/2 oz American Eagle Gold Coins 0 0 0 0 0 1,000 55,000
1/4 oz American Eagle Gold Coins 0 0 0 0 2,000 4,000 50,000
1/10 oz American Eagle Gold Coins 0 0 0 5,000 5,000 15,000 165,000
1 oz American Buffalo Gold Coins 0 500 0 1,000 1,500 7,500 72,500
5 oz America the Beautiful Silver Coin 0 1,300 0 0 0 3,500 18,100
1 oz American Eagle Silver Coin 0 338,500 0 275,000 100,000 2,075,000 16,609,000

 

Sales notes: The sales of bullion coins above are in numbers sold, not ounces sold.

In other gold coin news, check out these two articles:

The first article relays recent price increases for United States Mint collectible platinum and gold coins. The second article provides the latest sales stats for First Spouse Gold Coins. Two of those went off sale this month with extremely low mintages.

London Bullion Prices

London bullion prices were hit with losses this week as well. The following grid provides London PM Fix daily bullion prices and latest changes for the week.

London Bullion Prices (PM Fixings)
  Mon Tue Wed Thurs Fri Weekly Change
($/%)
Silver Prices $28.43 $28.81 $28.31 $27.88 $26.81 -$1.85
-6.5%
Gold Prices $1,615.50 $1,625.50 $1,601.00 $1,582.00 $1,565.50 -$61.75
-3.8%
Platinum Prices $1,484.00 $1,486.00 $1,459.00 $1,457.00 $1,435.00 -$58.00
-3.9%
Palladium Prices $628.00 $634.00 $624.00 $617.00 $608.00 -$24.00
-3.8%

 

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

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: