Gold Nears 4-Week High; Silver Eagles Top 35M

by CoinNews.net on October 14, 2014 · 0 comments

American Silver Eagle bullion coin

U.S. Mint sales of Silver Eagle bullion coins topped 35 million for the year

Gold settled near a four-week high on Tuesday, buoyed by safe-haven demand. Other precious metals also advanced.

Gold for December delivery tacked on $4.30, or 0.4%, to close at $1,234.30 an ounce on the Comex division of the New York Mercantile Exchange.

"There’s worry on the economic front and with the equity markets pulling back substantially, there’s uneasiness among investors causing buying in gold," The Wall Street Journal quoted Bob Haberkorn, a senior commodities broker with RJO Futures in Chicago. "Gold is mostly a fear trade at this point."

Gold traded from $1,231.10 to $1,238.60, the highest price most since Sept. 17.

Silver for December delivery moved up nearly 6 cents, or 0.3%, to $17.40 an ounce. Prices ranged from $17.33 to $17.57.

In PGM futures on Tuesday:

  • January platinum rose $11.10, or 0.9%, to $1,272.30 an ounce, trading between $1,263.20 and $1,277.90.

  • Palladium for December delivery gained $9.15, or 1.2%, to $795.10 an ounce, ranging from $784.35 to $797.

London Fix Precious Metals

Earlier fixed London precious metals advanced as well. In contrasting London bullion Fix prices and the LBMA Silver Price from Monday PM to Tuesday PM:

  • Gold added $5.75, or 0.5%, to $1,234.75 an ounce,
  • Silver rose 9 cents, or 0.5%, to $17.50,
  • Platinum climbed $11, or 0.9%, to $1,268 an ounce, and
  • Palladium gained $9, or 1.1%, to $793 an ounce

US Mint Bullion Coin Sales in October

United States Mint bullion coin sales climbed Tuesday for the first time this week. Increases included 7,500 ounces in gold coins and 437,500 ounces in silver coins.

Silver Eagle sales rose 430,000 on the day, jumping over the 35 million mark for the year to easily maintain the second quickest pace in the coin’s 29-year history. Sales in record year 2013 reached over 36.9 million through the same time last year.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Tuesday, last month, in October, and the year to date.

American Eagle and Buffalo Bullion Sales (# of coins)
Tuesday / Week-To-Date Sales Last Week September Sales October Sales YTD Sales
$100 American Platinum Eagle Bullion Coins N/A N/A* 2,700 400 16,700
$50 American Eagle Bullion Gold Coins 2,000 24,500 50,500 30,500 326,500
$25 American Eagle Bullion Gold Coins 0 3,000 6,000 4,000 36,000
$10 American Eagle Bullion Gold Coins 0 6,000 8,000 6,000 98,000
$5 American Eagle Bullion Gold Coins 15,000 5,000 30,000 25,000 465,000
$50 American Buffalo Bullion Gold Coins 4,000 8,500 14,500 15,000 154,500
$1 American Eagle Silver Bullion Coins 430,000 870,000 4,140,000 2,950,000 35,201,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 0 3,500 0 33,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 1,000 0 21,500
Arches National Park 5 Oz Silver Bullion Coins 0 0 800 0 22,000
Great Sand Dunes 5 Oz Silver Bullion Coins 1,500 800 4,500 2,800 14,800

 

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