Gold Inches Lower, Silver Gains, US Coins Quiet

by CoinNews.net on August 7, 2012 · 0 comments

Silver bars and US Coins

Silver advanced Tuesday for a third straight day

Snapping a two-session winning streak, gold edged lower Tuesday in especially light trading.

Gold prices for December delivery shed $3.40, or 0.2%, to settle at $1,612.80 an ounce. Gold ranged from an intraday low of $1,611.70 to a high of $1,621.30.

"Nobody really wants to step in front of the market and be a seller yet as the Fed seemingly just kicks the QE can down the road," Reuters quoted David Meger, director of metals trading at futures brokerage Vision Financial Markets.

"We still haven’t received the positive news that everybody believed we would see at some point down the road. That’s why we are in this no man’s land," he said.

In other New York bullion futures:

  • Advancing for a third consecutive session, silver prices for September delivery rose 22.3 cents, or 0.8%, to $28.086 an ounce. Silver on the day traded between $27.735 and $28.180.

  • Platinum for October delivery settled up $8.50, or 0.6%, to $1,410.40 an ounce. Prices moved through intraday levels of $1,400.00 and $1,414.40.

  • Palladium for September delivery added $8.65, or 1.5%, to $588.20 an ounce, ranging from $578.25 to $588.95.

London Precious Metals

Precious metals in London were all higher for a second day. When comparing London PM Fix prices:

  • Gold rose $1.00, or 0.1%, to $1,611.00 an ounce,
  • Silver gained 28.0 cents, or 1.0%, to $28.00 an ounce,
  • Platinum advanced $14.00, or 1.0%, to $1,410.00 an ounce, and
  • Palladium jumped $9.00, or 1.6%, to $585.00 an ounce

Sales of U.S. Mint Bullion Coins

Sales of U.S. Mint bullion coins were unchanged Tuesday as of 3:50 p.m. ET. The latest daily, August and year-to-date sales figures for U.S. Mint bullion products follow.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Daily Gains August Gains YTD 2012
$50 American Gold Eagle Coins 0 3,500 317,000
$25 American Gold Eagle Coins 0 0 56,000
$10 American Gold Eagle Coins 0 0 54,000
$5 American Gold Eagle Coins 0 5,000 195,000
$50 American Buffalo Gold Coins 0 2,500 81,500
American Silver Eagle Coins 0 765,000 20,435,000

 

America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Daily Gains August Gains All-Time Total
2012 El Yunque National Forest 5 oz. Silver Coins 0 400 13,600
2012 Chaco Culture National Historical Park 5 oz. Silver Coins 0 400 7,800
2012 Acadia National Park 5 oz. Silver Coins 0 600 10,500
2011 Olympic National Park 5 oz. Silver Coins 0 0 85,500
2011 Vicksburg National Military Park 5 oz. Silver Coins 0 0 39,100
2011 Chickasaw Park 5 oz. Silver Coins 0 0 29,400
TOTAL 0 1,400 185,900

 

Above U.S. Mint bullion sales are in coin totals, not in amount of ounces sold.

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