Gold Slips for First Loss in Seven Sessions, US Mint Coin Sales Rise

by CoinNews.net on June 26, 2014 · 0 comments

Silver Eagle Bullion Coin and Bar

Most precious metals declined Thursday. Sales of U.S. Mint bullion coins advanced.

Gold prices settled lower Thursday for the first time in seven sessions, slipping from the prior-day closing that was the highest in 10 weeks.

Gold for August delivery declined $5.60, or 0.4%, to close at $1,317 an ounce on the Comex division of the New York Mercantile Exchange.

"The gold price is building up strength to tackle the mid- to high-$1,320s before attacking more overhead resistance," MarketWatch quoted Julian Phillips, founder of and contributor to GoldForecaster.com. "I see the fall as part of the usual ebb and flow of prices."

"With the suppuration of the sectarian war in the [Middle East], the initial shock has been absorbed but the implications have not," he said. "Today, we see Syria and Iran joining in the fray as a signal of things to come while we are expecting Jordan to be dragged in soon."

Gold prices traded from a low of $1,306.80 to a high of $1,320.60. On Wednesday, gold notched the highest settlement since April 14.

Silver settled down for the first time in three sessions. Silver for July delivery dipped less than a penny to $21.11 an ounce, ranging from $20.80 to $21.12.

In rounding out the precious metals complex:

  • October platinum shed $3, or 0.2%, to $1,471.30 an ounce, trading between $1,462.20 and $1,474.60.

  • Palladium for September delivery added $2.55, or 0.3%, to $835.80 an ounce, ranging from $827.50 to $836.50.

London Fix Precious Metals

Earlier fixed London precious metals were mostly higher. In contrasting London bullion fix prices from Wednesday PM to Thursday PM:

  • Gold lost $5, or 0.4%, to $1,311.75 an ounce,
  • Silver gained 5 cents, or 0.2%, to $20.83 an ounce,
  • Platinum added $7, or 0.5%, to $1,466 an ounce, and
  • Palladium rose $9, or 1.1%, to $835 an ounce

US Mint Bullion Sales in June

United States Mint bullion products advanced with sales of 6,500 ounces in gold coins and 380,000 ounces in silver coins. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last on Thursday, last week, this week so far, last month, the month-to-date, and the year-to-date.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Sales Last Week Sales Week-To-Date Sales May Sales June Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 0 0 1,000 700 12,900
$50 American Gold Eagle Bullion Coins 5,500 11,500 9,000 29,000 38,000 193,500
$25 American Gold Eagle Bullion Coins 0 0 0 3,000 0 25,000
$10 American Gold Eagle Bullion Coins 2,000 2,000 2,000 6,000 4,000 72,000
$5 American Gold Eagle Bullion Coins 0 5,000 0 35,000 20,000 345,000
$50 American Buffalo Gold Bullion Coins 500 6,500 500 12,500 12,500 108,000
$1 American Eagle Silver Bullion Coins 380,000 580,000 380,000 3,988,500 2,305,000 23,741,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 0 1,000 4,000 2,000 29,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 400 19,500 900 20,000
Arches National Park 5 Oz Silver Bullion Coins 0 2,800 2,000 N/A 18,300 18,300

 

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