Gold Dips, Silver Edges Up; Silver Eagle Sales Top 20M

by CoinNews.net on May 13, 2014 · 0 comments

Bullion Silver Eagle, Bullion Bar and Other Silver Coins

US Mint Silver Eagle sales topped 20 million for the year, the quickest pace ever

Gold and silver prices were near unchanged Tuesday while palladium and platinum climbed for a second day in a row.

Gold for June delivery dipped $1, or less than 0.1%, to settle at $1,294.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded from a low of $1,289.10 to a high of $1,299. Gold prices advanced 0.6% in the prior session.

"The equity market continues to rise and the dollar’s strength is making gold less popular," Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview according to Bloomberg News. "Some buyers, however, are picking up gold because of Ukraine."

Silver for July delivery rose less than a half cent to $19.55 an ounce. Prices ranged from $19.37 to $19.62. Silver rallied 2.2% on Monday.

In rounding out the precious metals complex:

  • July platinum added $14.10, or 1%, to $1,456 an ounce, trading between $1,435.60 and $1,461.90.

  • Palladium for June delivery rose $8.55, or 1.1%, to $817.30 an ounce, trading between $802.05 and $818.65.

London Fix Precious Metals

Earlier fixed London precious metals moved in the same direction as bullion futures in New York. In contrasting the London fix precious metals prices from Monday PM to Tuesday PM:

  • Gold slipped $2.25, or 0.2%, to $1,296.50 an ounce,
  • Silver declined 2 cents, or 0.1%, to $19.44 an ounce,
  • Platinum added $13, or 0.9%, to $1,453 an ounce, and
  • Palladium rose $7, or 0.9%, to $814 an ounce

US Mint Bullion Sales

Reported U.S. Mint bullion sales were muted on Monday but they advanced on Tuesday with overall gains of:

  • 100 ounces in platinum coins,
  • 5,000 ounces in gold coins, and
  • 778,000 ounces in silver coins

American Silver Eagles leapt over 20 million for the year to land at 20,570,000. Last year when the annual Silver Eagle sales record was set at over 42.6 million, the coins had reached 19,210,000 by May 13, 2013.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Tuesday, last week, last month, the month so far, and the year-to-date.

American Eagle and Buffalo Bullion Sales (# of coins)
Tuesday / Week-To-Date Sales Sales Last Week April Sales May Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 100 600 1,200 700 11,900
$50 American Eagle Gold Bullion Coins 1,000 9,500 26,000 10,500 137,000
$25 American Eagle Gold Bullion Coins 0 0 5,000 0 22,000
$10 American Eagle Gold Bullion Coins 2,000 0 20,000 2,000 64,000
$5 American Eagle Gold Bullion Coins 5,000 10,000 55,000 20,000 310,000
$50 American Buffalo Gold Bullion Coins 3,000 1,000 17,500 5,500 88,500
$1 American Silver Eagle Bullion Coins 778,000 1,151,500 3,569,500 3,122,000 20,570,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 3,500 10,600 3,500 26,500
Shenandoah National Park 5 Oz Silver Bullion Coins 0 15,200 N/A 15,200 15,200

 

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