Gold, Silver Rally in July Start; All US Mint Bullion Coins Rise

by CoinNews.net on July 1, 2013 · 7 comments

Stacks of Coins, Gold Bar

Gold and silver rallied to start July, as did sales of all US Mint bullion coins

Precious metals started July and the second half of 2013 with broad gains after tumbling in the second quarter.

And in a rare daily event, U.S. Mint sales increases were logged Monday for each of the bureau’s bullion coins.

Returning to metals, gold for August delivery rallied $32, or 2.6%, to finish at $1,255.70 an ounce on the Comex in New York. Gold traded from a low of $1,224.10 to a high of $1,261.70. Higher demand for physical gold supported gains, opined analysts.

"Physical demand in Asia continues to be strong," Carlos Perez-Santalla, a New York-based broker at Marex North America LLC, said in a telephone interview. "The focus on the Fed stimulus and when the tapering may begin has begun to wane."

In other precious metals futures on Monday:

  • Silver for September delivery gained 10.8 cents, or 0.6%, to $19.58 an ounce, ranging from $19.36 to $20.08.

  • October platinum advanced $42.60, or 3.2%, to $1,382.50 an ounce, trading between $1,335 and $1,387.90.

  • September palladium leapt $26, or 3.9%, to $686.70 an ounce, ranging from $658.25 to $689.45.

Friday closed out the second quarter with steep losses across precious metals that totaled 23.3% for gold, 31.3% for silver, 14.9% for platinum and 14% for palladium.

London Fix Precious Metals

London precious metals started July higher. In contrasting the Friday PM to Monday PM London fixings:

  • Gold surged $50.75, or 4.3%, to $1,242.75 an ounce,
  • Silver jumped 58 cents, or 3.1%, to $19.44 an ounce,
  • Platinum gained $40, or 3%, to $1,357 an ounce, and
  • Palladium soared $35, or 5.4%, to $678 an ounce

Second quarterly declines for London bullion fixings were 25.4% for gold, 34.1% for silver, 16.4% for platinum and 16.5% for palladium.

US Bullion Coin Sales in July

When counted by type and size, nine different bullion coins are available today from the United States Mint. It is extremely rare when all U.S. Mint bullion products move in a single day, but that is exactly what happened on Monday. In total ounces sold by the Mint on Monday:

  • Gold coins increased by 20,000, which is just 2,000 ounces shy of matching last week’s solid total.
  • Silver coins climbed by 857,500 ounces, which is only 39,000 ounces away from last week’s tally.

The following are daily, July and year-to-date bullion coin totals as published by the United States Mint.

American Eagle and Buffalo Bullion Coin Sales
  Monday Sales Last Week Weekly / July Sales YTD Sales
$50 American Eagle Gold Bullion Coins 12,000 12,500 12,000 556,500
$25 American Eagle Gold Bullion Coins 2,000 1,000 2,000 45,000
$10 American Eagle Gold Bullion Coins 2,000 4,000 2,000 88,000
$5 American Eagle Gold Bullion Coins 10,000 10,000 10,000 425,000
$50 American Buffalo Gold Bullion Coins 5,500 7,000 5,500 167,000
White Mountain 5 oz. Silver Bullion Coins 1,000 0 1,000 28,000
Perry’s Victory 5 oz. Silver Bullion Coins 1,000 0 1,000 15,200
Great Basin 5 oz. Silver Bullion Coins 4,300 9,900 4,300 14,200
American Silver Eagle Bullion Coins 826,000 847,000 826,000 25,869,500

 

Figures above are in the number of coins sold, not in ounces.

{ 7 comments… read them below or add one }

Legend July 1, 2013 at 6:28 pm

All time lows, everyone should stock up on Gold and the other precious metals now. It’ll never be this way again: a long, steady gait to a clear bottom, with a quick snap of a turnaround. Very clearly a buyer’s market for bullion. And also time for the proofs to be purchased as well.

paul davidson July 1, 2013 at 7:35 pm

The paper bullion owners have manipulated precious metals foe quite some time now. Its true this is an exellent time to purchase the metals,but the paper bullion owners should be compelled to prove actual phyical metals. They have have kept the price of silver(for example) under valued since it hit almost $50. an ounce back around 2010. Many bullion dealers will not sell their pieces because they paid alot more for it in the past.

Unai July 1, 2013 at 7:42 pm

Gold is going way lower

Jamie Cohen July 3, 2013 at 10:41 am

Unai-gold might go lower, all it does is present another buying opportunity for long term holders of physical gold and silver.

RonnieBGood July 3, 2013 at 12:00 pm

L – Gold at all time lows??

Gold only cracked $1000 in 2008 during the crash!! See Link:
http://www.onlygold.com/tutorialpages/picessince1972fs.htm

Coin Monger July 4, 2013 at 10:43 am

Pretty much, the only way gold will go much lower is if we get into a full blown depression. Get it while it’s this low.

Prices go up and mint sales rise. Funny how people won’t buy when the prices are low, only when they go up.

RonnieBGood July 7, 2013 at 9:21 pm

CM- Gold will go lower if the economy tanks???

I give up…

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