Gold Hits 1-Month High, US Mint Bullion Coins Gain

by CoinNews.net on May 14, 2014 · 0 comments

Three Gold Bullion Bars, Dark Background

Precious metals advanced Wednesday as did United States Mint bullion coins

Gold closed at a one-month high Wednesday, gaining for a second time this week after dipping in the previous session. Silver, platinum and palladium extended their winning sessions to three straight.

Gold for June delivery tacked on $11.10, or 0.9%, to end at $1,305.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price was the highest since April 14. Prices ranged from a low of $1,291.60 to a high of $1,309.20.

"Things between Ukraine and Russia are simmering, and that leaves gold poised to go higher," Bloomberg News quoted Frank Lesh, a trader at FuturePath Trading LLC in Chicago. "People want to hold gold like an insurance policy, because it’s still unclear which way things are going to there."

Gold prices on Tuesday declined $1, or less than 0.1%. They are up 1.4% since Friday.

Silver for July delivery gained 23 cents, or 1.2%, to settle at $19.78 an ounce. Prices ranged from $19.51 to $20.

In PGM futures:

  • July platinum jumped $29.70, or 2%, to $1,485.70 an ounce, trading between $1,452.20 and $1,487.60.

  • Palladium for June delivery rose $11.50, or 1.4%, to $828.80 an ounce, trading between $815 and $829.20.

London Fix Precious Metals

Earlier fixed London precious metals also advanced. In contrasting the London fix bullion prices from Tuesday PM to Wednesday PM:

  • Gold added $8.75, or 0.7%, to $1,305.25 an ounce,
  • Silver gained 43 cents, or 2.2%, to $19.87 an ounce,
  • Platinum climbed $19.50, or 1.3%, to $1,472.50 an ounce, and
  • Palladium added $9, or 1.1%, to $823 an ounce

US Mint Bullion Sales

Six of nine U.S. Mint bullion coins logged sales gains on Wednesday. In overall totals, advances included:

  • 4,000 ounces in gold coins, and
  • 150,000 ounces in silver coins

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

American Eagle and Buffalo Bullion Sales (# of coins)
Wednesday Sales Sales Last Week Week-To-Date Sales April Sales May Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 600 100 1,200 700 11,900
$50 American Eagle Gold Bullion Coins 1,000 9,500 2,000 26,000 11,500 138,000
$25 American Eagle Gold Bullion Coins 3,000 0 3,000 5,000 3,000 25,000
$10 American Eagle Gold Bullion Coins 4,000 0 6,000 20,000 6,000 68,000
$5 American Eagle Gold Bullion Coins 0 10,000 5,000 55,000 20,000 310,000
$50 American Buffalo Gold Bullion Coins 500 1,000 3,500 17,500 6,000 89,000
$1 American Silver Eagle Bullion Coins 140,000 1,151,500 918,000 3,569,500 3,262,000 20,710,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 3,500 0 10,600 3,500 26,500
Shenandoah National Park 5 Oz Silver Bullion Coins 2,000 15,200 2,000 N/A 17,200 17,200

 

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