Gold Drops $10, Silver Falls 30 Cents, Silver Eagle Coins Top 21M

by CoinNews.net on August 13, 2012 · 0 comments

American Silver Eagle Coins

Although silver prices fell, sales of American Silver Eagle coins surged to above 21 million

Gold ended lower Monday, tracking other commodities and stocks that were pressured, opined analysts, on concerns over global growth.

Gold prices for December delivery declined $10.20, or 0.6%, to settle at $1,612.60 an ounce. Gold touched an intraday low of $1,609.70 and hit a high of $1,628.20.

"Everybody seems to be waiting for this huge money printing that they think is going to happen which hasn’t happened yet. So, nobody really wants to bet against it, but at the same time they don’t want to go long," said Doug Roberts, chief investment strategist at Channel Capital Research, according to Reuters.

In other New York precious metals on Monday:

  • Silver prices for September delivery lost 29.5 cents, or 1.1%, to $27.767 an ounce. Silver traded between $27.685 and $28.150.

  • Platinum for October delivery fell 7.10, or 0.5%, to $1,392.80 an ounce, trading between $1,385.90 and $1,404.20.

  • Palladium for September delivery settled down $7.50, or 1.3%, to $574.70 an ounce, moving between $572.25 and $582.95.

Last week, gold gained 0.8%, silver rose 0.9% and palladium climbed 0.7%. Platinum declined 1.0%.

London Precious Metals

Precious metals in London moved higher Monday. When comparing London PM Fix prices:

  • Gold added $4.00, or 0.2%, to $1,622.50 an ounce,
  • Silver inched up 17.0 cents, or 0.6%, to $28.05 an ounce,
  • Platinum edged up $2.00, or 0.1%, to $1,401.00 an ounce, and
  • Palladium rose $3.00, or 0.5%, to $581.00 an ounce

London precious metals climbed across the board last week with increases of 1.0% for gold, 2.3% for silver, 0.6% for platinum 0.9% for palladium.

Sales of U.S. Mint Bullion Coins

Aside from American Silver Eagle coins, U.S. Mint bullion sales were muted. But the Silver Eagles took off, advancing 475,000 in the week’s start to reach 1.39 million for the month and surpassing 21 million in the year-to-date sales for only the fourth time since introduced in 1986.

The latest daily, August and year-to-date sales for U.S. Mint bullion products follow.

Sales US Mint American Eagle and Buffalo Bullion Coins
  Daily Gains August Gains YTD 2012
$50 American Gold Eagle Coins 0 8,500 322,000
$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 3,500 82,500
American Silver Eagle Coins 475,000 1,390,000 21,060,000

 

Sales of America the Beautiful 5 Oz. Silver Bullion Coins
  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 1,100 11,000
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 1,900 186,400

 

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

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