Gold Dips, Silver Eagle Bullion Coins Top 26 Million

by CoinNews.net on July 30, 2014 · 0 comments

Bullion Silver Eagle

U.S. Mint Silver Eagle bullion coins moved above 26 million for the year

Gold ended lower for a second consecutive session Wednesday with prices now poised for an almost 2% monthly decline.

Gold for December delivery — the new most active contract — fell $3.60, or 0.3%, to settle at $1,296.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Investor interest has waned while other asset classes deliver much stronger returns, namely equity markets," Morgan Stanley analysts including Joel Crane wrote in a report today, according to Bloomberg News. "We are cognizant sentiment surrounding gold is likely to remain relatively volatile in the face of continued geopolitical instability and extension of consensus views over the timing of the U.S. interest rate tightening cycle."

Gold prices ranged from an intraday low of $1,293.20 to a high of $1,305.20. Gold lost $5, or 0.4%, on Tuesday.

Silver for September delivery added a penny to end at $20.60 an ounce. Silver prices traded from $20.48 to $20.76. They inched up 2 cents in the previous session.

In rounding out the precious metals complex:

  • October platinum shed $2.60, or 0.2%, to $1,481.90 an ounce, trading between $1,478.30 and $1,488.10.

  • Palladium for September turned up $1.85, or 0.2%, to $880.15 an ounce, ranging between $877.10 and $883.25.

London Fix Precious Metals

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

  • Gold fell $4.75, or 0.4%, to $1,294.50 an ounce,
  • Silver dipped 10 cents, or 0.5%, to $20.54 an ounce,
  • Platinum lost $5, or 0.3%, to $1,480 an ounce, and
  • Palladium declined $6, or 0.7%, to $878 an ounce

US Mint Bullion Sales in July

United States Mint bullion sales were unchanged Wednesday as of 3:17 PM ET, but American Silver Eagles advanced by 260,000 in the later hours on Tuesday. The gain lifted Silver Eagle sales over 26 million for the year, maintaining a pace that is the second quickest in the coin’s 29-year history. Silver Eagle sales in record year 2013 had topped 29 million through the first seven months.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold 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)
Wednesday Sales Sales Last Week Current Sales Week June Sales July Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 0 0 700 0 12,900
$50 American Eagle Bullion Gold Coins 0 3,000 1,500 43,000 26,000 224,500
$25 American Eagle Bullion Gold Coins 0 0 0 2,000 0 27,000
$10 American Eagle Bullion Gold Coins 0 2,000 0 4,000 6,000 78,000
$5 American Eagle Bullion Gold Coins 0 5,000 0 35,000 25,000 385,000
$50 American Buffalo Bullion Gold Coins 0 1,500 0 16,000 5,500 117,000
$1 American Eagle Silver Bullion Coins 0 615,000 285,000 2,692,000 1,925,000 26,053,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 500 0 2,000 500 29,500
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 0 900 0 20,000
Arches National Park 5 Oz Silver Bullion Coins 0 0 0 18,500 1,500 20,000

 

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