Gold and Silver Prices Tip Higher

by CoinNews.net on August 9, 2012 · 0 comments

Gold bars, nuggets

Gold advanced a modest 0.3% Thursday

Gold tipped higher in extremely light trading Thursday as investors remained on the sidelines without market news to spark significant changes one way or the other.

Gold prices for December delivery tacked on $4.20, or 0.3%, to $1,620.20 an ounce. Gold ranged from an intraday low of $1,612.20 to a high of $1,621.00.

"Without any news from central bankers this week, traders are not entering new positions, waiting for the next dose of news from either the ECB or the Fed," said Jeffrey Sherman, commodities portfolio manager at DoubleLine Capital LP, according to Reuters.

"Gold is likely to stay in this trading range until we receive more definitive statements," said Sherman, whose firm has over $40 billion assets under management.

In other New York precious metals futures prices:

  • Silver prices for September delivery turned up 2.2 cents, or 0.1%, to $28.097 an ounce. Silver prices traded between $27.835 and $28.185.

  • Platinum for October delivery rose $2.60, or 0.2%, to close at $1,412.80 an ounce. It ranged from $1,408.30 to $1,419.00.

  • Palladium for September delivery etched out a gain of 20.0 cents to $586.70 an ounce, trading between $583.95 and $590.50.

London Precious Metals

London precious metals were modestly higher as well. When comparing London PM Fix prices:

  • Gold gained $1.75, or 0.1%, to $1,615.00 an ounce,
  • Silver added 18.0 cents, or 0.6%, to $28.02 an ounce,
  • Platinum climbed $9.00, or 0.6%, to $1,411.00 an ounce, and
  • Palladium advanced $3.00, or 0.5%, to $588.00 an ounce

Sales of U.S. Mint Bullion Coins

Published sales of U.S. Mint bullion coins were unchanged Thursday. 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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