Gold Dips 0.1% as Silver Drops 1.3%, US Bullion Coins Unchanged


Fine Gold BarsGold turned slightly lower Wednesday, but was well off an earlier low which was triggered by an instant view from the Federal Reserve’s latest statement that a fresh round of quantitative easing was unlikely any time soon.

"The [Fed] statement clearly took QE3 off the table for an extended period," MarketWatch quoted Bill O’Neill, a principal with Logic Advisors in New Jersey. "That was the major component in the selloff."

Gold prices for June delivery dipped $1.50, or, 0.1%, to $1,642.30 an ounce on the Comex in New York. The yellow metal traded between $1,625.00 and $1,647.60.

Silver prices for May delivery declined 39.0 cents, or 1.3%, to $30.356 an ounce. Prices bracketed $29.925 and $30.965.

Platinum prices for July delivery slipped 80.0 cents, or 0.1%, to $1,547.30 an ounce, ranging from $1,542.50 to $1,559.40.

Palladium prices for June delivery fell $10.70, or 1.6%, to $655.10 an ounce, trading between $652.25 and $671.95.

London Precious Metal

London precious metals moved lower with the exception of silver which was nearly unchanged. When comparing the most recent London PM fixings:

  • Gold declined $11.75, or 0.7%, to $1,637.75 an ounce,
  • Silver rose 2.0 cents, or 0.1%, to $30.88 an ounce,
  • Platinum lost $2.00, or 0.1%, to $1,551.00 an ounce, and
  • Palladium fell $9.00, or 1.3%, to $665.00 an ounce

U.S. Mint Bullion Coins

Sales levels for U.S. Mint bullion coins were unchanged for a second straight day. The following are the available daily, April and year-to-date bullion coin sales totals as published by the U.S. Mint.

U.S. Mint American Eagle and Buffalo Bullion Coin Sales
  Daily Gains April Gains YTD 2012
American Gold Eagle (1 oz.) 0 16,000 178,000
American Gold Eagle (1/2 oz.) 0 0 51,000
American Gold Eagle (1/4 oz.) 0 2,000 42,000
American Gold Eagle (1/10 oz.) 0 5,000 135,000
American Gold Buffalo Coin (1 oz.) 0 9,000 55,500
American Silver Eagle 0 1,280,000 11,419,000


America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Prior Weekly Weekly Gains All-Time Total
Olympic National Park 5 oz. Silver Coins 0 0 85,100
Vicksburg National Military Park 5 oz. Silver Coins 0 0 38,300
Chickasaw Park 5 oz. Silver Coins 0 0 28,900
TOTAL 0 0 152,300


All bullion coin sales in the above tables are in number of coins, not in the amount of ounces sold. The U.S. Mint last updated five ounce bullion silver coins sold on Monday, April 9.

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