Gold Eases, US Mint Coins Rise

by CoinNews.net on October 2, 2014 · 0 comments

Bullion, 3 Gold Bars

Precious metals settled lower Thursday

Gold was little changed Thursday, down less than 0.1%. Other precious metals posted heavier declines. United States Mint coin sales rose, sharply again for American Silver Eagles.

Gold for December delivery edged down 40 cents to $1,215.10 an ounce on the Comex division of the New York Mercantile Exchange.

"With the likelihood of further weakness in equity markets, coupled with the still-volatile situation in Hong Kong, we would rather not want to be short gold here, as we think the precious metal may benefit from some short-covering heading into the weekend," Reuters quoted Edward Meir, metals analyst at brokerage INTL FCStone.

Gold traded from a low of $1,209.10 to a high of $1,224. Prices turned up Wednesday by $3.90, or 0.3%.

Silver for December delivery lost 21 cents, or 1.2%, to settle at $17.05 an ounce. Prices ranged from $16.93 to $17.35. Silver advanced 20 cents in the prior session.

In PGM futures on Thursday:

  • January platinum declined $19.20, or 1.5%, to $1,270.40 an ounce, trading between $1,264.60 and $1,294.70.

  • Palladium for December delivery fell $15.90, or 2%, to $768.65 an ounce, ranging from $768.05 to $787.40.

London Fix Precious Metals

Earlier fixed London precious metals changed slightly, most by 0.3%. In contrasting the London bullion Fix prices and the LBMA Silver Price from Wednesday PM to Thursday PM:

  • Gold declined $4.75, or 0.4%, to $1,211.75 an ounce,
  • Silver added a nickel, or 0.3%, to $17.09,
  • Platinum shed $4, or 0.3%, to $1,273 an ounce, and
  • Palladium rose $2, or 0.3%, to $777 an ounce

US Mint Bullion Coin Sales in October

U.S. Mint coin sales advanced by 2,000 ounces in American Gold Eagles and by 500,000 ounces in American Silver Eagles. Silver coin sales this week are the strongest since 2014 Silver Eagles debuted in mid-January.

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, last month, this month, and the year to date.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Last Week Current Week September Sales October Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 200 2,500 2,700 400 16,700
$50 American Eagle Bullion Gold Coins 1,500 10,000 10,000 50,500 4,000 300,000
$25 American Eagle Bullion Gold Coins 0 0 1,000 6,000 1,000 33,000
$10 American Eagle Bullion Gold Coins 0 4,000 0 8,000 0 92,000
$5 American Eagle Bullion Gold Coins 5,000 10,000 10,000 30,000 5,000 445,000
$50 American Buffalo Bullion Gold Coins 0 5,000 4,000 14,500 2,500 142,000
$1 American Eagle Silver Bullion Coins 500,000 1,290,000 2,740,000 4,140,000 1,650,000 33,901,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 0 1,500 3,500 0 33,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 500 0 1,000 0 21,500
Arches National Park 5 Oz Silver Bullion Coins 0 300 0 800 0 22,000
Great Sand Dunes 5 Oz Silver Bullion Coins 0 1,200 800 4,500 500 12,500

 

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