Gold, Silver and Platinum Fall 1%; US Mint Coins Rise

by CoinNews.net on September 8, 2014 · 0 comments

Silver coins in bag and Gold Eagle bullion coins

Precious metals turned down Monday. Several types of U.S. Mint bullion coins advanced.

Gold, silver and platinum each shed 1% to begin the new trading week on Monday. Palladium prices slipped 0.6%.

Gold for December delivery dropped $13 to close at $1,254.30 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices were pressured by the U.S. dollar, which hit a fresh 13-month high.

"The dollar’s strength is pushing gold lower," George Gero, a vice president and precious-metal strategist at RBC Capital Markets in New York, said in a telephone interview according to Bloomberg News. "Also, the safe-have premium is coming off as tensions have eased in Ukraine."

Gold prices ranged from a low of $1,252.10 to a high of $1,272.60. Last week gold fell 1.6%.

Silver for December delivery declined 20 cents, or 1%, to end at $18.96 an ounce. Silver traded from $18.93 to $19.35. Prices plunged last week by 1.7%.

Elsewhere in precious metals trading:

  • October platinum fell $13.50 to $1,397.50 an ounce, ranging from $1,396.80 to $1,414.50.

  • Palladium for December delivery lost $5.30 to $886.15 an ounce, trading between $882.15 and $896.95.

Last week, platinum fell 1% and palladium dropped 2%.

London Fix Precious Metals

Earlier fixed London precious metals were mostly lower. In contrasting the London bullion Fix prices and the LBMA Silver Price from Friday PM to Monday PM:

  • Gold fell $7, or 0.6%, to $1,259 an ounce,
  • Silver added 6 cents, or 0.3%, to $19.19,
  • Platinum dipped $2, or 0.1%, to $1,404 an ounce, and
  • Palladium declined $3, or 0.3%, to $884 an ounce

Last week, losses totaled 1.5% for gold, 1.7% for silver, 1.3% for platinum and 1.2% for palladium.

US Mint Bullion Sales

United States Mint bullion sales advanced Monday. Sales gains included:

  • 2,000 ounces of American Gold Eagles;
  • 240,000 ounces of American Silver Eagles; and
  • 17,500 ounces of America the Beautiful Five Ounce Silver Bullion Coins

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

American Eagle and Buffalo Bullion Sales (# of coins)
Monday Sales Sales Last Week August Sales September Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 100 700 100 13,700
$50 American Eagle Bullion Gold Coins 1,000 13,500 21,000 14,500 260,000
$25 American Eagle Bullion Gold Coins 1,000 4,000 0 5,000 32,000
$10 American Eagle Bullion Gold Coins 0 2,000 6,000 2,000 86,000
$5 American Eagle Bullion Gold Coins 0 10,000 25,000 10,000 420,000
$50 American Buffalo Bullion Gold Coins 0 3,000 8,000 3,000 128,000
$1 American Eagle Silver Bullion Coins 240,000 340,000 2,007,500 580,000 28,691,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 500 0 0 500 30,000
Shenandoah National Park 5 Oz Silver Bullion Coins 500 0 500 500 21,000
Arches National Park 5 Oz Silver Bullion Coins 0 0 1,200 0 21,200
Great Sand Dunes 5 Oz Silver Bullion Coins 2,500 0 7,500 2,500 10,000

 

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