Gold Continues Advance, US Mint Bullion Coins Rise Again

by CoinNews.net on August 7, 2014 · 0 comments

Gold Bullion, five bars in total

U.S. Mint bullion coins have logged gains for four straight days — a rarity when compared to typical sales patterns in the last two months

Gold added to the prior day’s gains on Thursday as safe-haven buying was highlighted amid advancing tensions in Ukraine and Iraq.

Gold for December delivery tacked on $4.30, or 0.3%, to close at $1,312.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices started the day under mild selling pressure Thursday, but more safe-haven demand and short covering kicked in during the session to push prices modestly higher on the day," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "As the trading day progressed Thursday, investor risk appetite appeared to shrink, to the benefit of gold."

Gold prices ranged from an intraday low of $1,303 to a high of $1,315.50. Gold soared 1.8% in the prior session after two days of losses.

Silver continued to struggle, falling for the fifth time in six sessions. Silver futures for September delivery shed 3 cents, or 0.2%, to settle at $19.99 an ounce. Silver traded from $19.88 to $20.13.

In PGM futures on Thursday:

  • October platinum gained $16.30, or 1.1%, to $1,481.50 an ounce, ranging from $1,464.50 to $1,483.

  • Palladium for September rose $7.15, or 0.8%, to $856.05 an ounce, trading between $847 and $860.80.

London Fix Precious Metals

Earlier London bullion fixings were mixed with gold lower and other metals higher. In contrasting the London bullion fix prices from Wednesday PM to Thursday PM:

  • Gold lost $1.25, or 0.1%, to $1,305.25 an ounce,
  • Silver added 29 cents, or 1.5%, $20.07 an ounce,
  • Platinum advanced $9, or 0.6%, to $1,466 an ounce, and
  • Palladium rose $7, or 0.8%, to $852 an ounce

US Mint Bullion Coin Sales in August

U.S. Mint bullion coins have registered gains for four straight days — a rarity when compared to typical sales patterns in the last two months. Bullion sales for the week so far are almost nine times higher for gold coins and nearly three times higher for silver coins. Silver Eagle sales on the week are highest since the week ended May 9.

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

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Sales Last Week Current Sales Week July Sales August Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 0 0 0 0 12,900
$50 American Eagle Bullion Gold Coins 500 1,500 9,000 26,000 9,000 233,500
$25 American Eagle Bullion Gold Coins 0 0 0 0 0 27,000
$10 American Eagle Bullion Gold Coins 0 0 2,000 6,000 2,000 80,000
$5 American Eagle Bullion Gold Coins 5,000 0 10,000 25,000 10,000 395,000
$50 American Buffalo Bullion Gold Coins 500 0 2,500 5,500 2,500 119,500
$1 American Eagle Silver Bullion Coins 0 335,000 955,000 1,975,000 955,000 27,058,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 0 0 500 0 29,500
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 0 0 0 20,000
Arches National Park 5 Oz Silver Bullion Coins 0 0 0 1,500 0 20,000

 

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