Gold Gains Marginally, Silver Dips 13 Cents, US Gold Coins Spurred

by CoinNews.net on September 19, 2012 · 0 comments

American Gold Eagle Coin

Sales of US gold coins in September are on the verge of passing those from August

Gold climbed marginally for a second straight day Wednesday. Gold prices for December delivery advanced 50 cents to $1,771.70 an ounce on the Comex in New York after gaining 60 cents on the previous day. Prices ranged from an intraday low of $1,764.20 to a high of $1,781.80.

Support came, analysts noted, from stimulus news out of the Bank of Japan.

"Gold likes the announcement out of Japan," Frank Lesh, a trader at FuturePath Trading in Chicago, said in a telephone interview relayed on Bloomberg. "People are concerned that this wave of global easing will stoke inflation."

The Bank of Japan eased its monetary policy by adding 10 trillion yen to a fund that buys assets.

In other New York precious metals futures:

  • Silver for December delivery dipped 13.0 cents, or 0.4%, to settle at $34.588 an ounce. Prices traded between $34.320 and $35.025.

  • Platinum for October delivery added $4.10, or 0.3%, to $1,640.40 an ounce, ranging from $1,621.00 to $1,647.00.

  • Palladium for December delivery climbed $5.70, or 0.9%, to $673.05 an ounce, moving between $664.00 and $676.80.

London Precious Metals

Precious metals in London were mixed Wednesday with silver higher and other metals lower. When comparing PM fixing prices:

  • Gold fell $2.75, or 0.2%, to $1,766.75 an ounce,
  • Silver jumped 59.0 cents, or 1.7%, to $34.65 an ounce,
  • Platinum lost $36.00, or 2.2%, to $1,633.00 an ounce, and
  • Palladium declined $7.00, or 1.0%, to $674.00 an ounce

U.S. Mint Bullion Coins

Sales of U.S. Mint gold coins jumped by 6,500 ounces Wednesday to 45,000 ounces for September. Another 3,000 ounces and sales will match those from the entire month of August.

Demand was also a bit stronger for bullion silver coins as compared to Tuesday. U.S. Mint distributors ordered 57,500 ounces.

The following grid offers the latest daily, September and year-to-date bullion sales as published by the U.S. Mint.

Sales of US Mint American Eagle and Buffalo Bullion Coins
  Daily Gains September Gains YTD 2012
$50 American Eagle Gold Coins 4,500 35,500 383,000
$25 American Eagle Gold Coins 0 1,000 60,000
$10 American Eagle Gold Coins 2,000 2,000 60,000
$5 American Eagle Gold Coins 10,000 20,000 235,000
$50 American Buffalo Gold Coins 500 6,500 94,500
American Eagle Silver Coins 57,000 1,961,000 24,501,000

 

Sales of America the Beautiful 5 Oz. Silver Bullion Coins
  Daily Gains September Gains All-Time Total
2012 El Yunque National Forest 5 oz. Silver Coins 0 0 16,700
2012 Chaco Culture National Historical Park 5 oz. Silver Coins 0 0 17,000
2012 Acadia National Park 5 oz. Silver Coins 100 2,500 17,600
2012 Hawai’i Volcanoes 5 oz. Silver Coins 0 10,400 10,400
2011 Olympic National Park 5 oz. Silver Coins 0 0 85,900
2011 Vicksburg National Military Park 5 oz. Silver Coins 0 0 39,500
2011 Chickasaw Park 5 oz. Silver Coins 0 0 29,700
TOTAL 100 12,900 216,800

 

Sales figures above are in the number of coins sold, not in the amount of ounces sold.

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