Gold Dips as Silver Edges Up, US Coins Unchanged


Fine Gold Bars Gold dipped 0.5% Wednesday for its biggest fall in three straight daily losses.

Gold, most other commodities and stocks declined as the Fed cut U.S. growth estimates and said it was extending its accommodative "Operation Twist" monetary policy through to the end of the year. Investors were, apparently, hoping for deeper stimulative action.

"At least for the near term, it’s mainly a short-term negative for gold because it indicates that there won’t be immediate and new aggressive accommodation, and certainly no QE3 at all judging from this statement," Reuters quoted Bill O’Neill, partner of commodities wealth manager LOGIC Advisors in New Jersey.

Gold prices for August delivery settled to $1,615.80 an ounce on the Comex in New York, falling $7.40. Gold intraday low and high prices were $1,590.50 and $1,623.60.

In other New York futures on Wednesday:

  • Silver prices for July delivery inched up 2.1 cents, or 0.1%, to $28.389 an ounce. Prices ranged from $27.630 to $28.595.

  • Platinum prices for July delivery settled at $1,466.80 an ounce, declining $13.70 or 0.9%. Platinum traded between $1,451.80 and $1,487.40.

  • Palladium prices for September delivery lost $9.90, or 1.6%, to $619.50 an ounce, ranging from $614.70 to $632.00.

London Precious Metals

London precious metals registered losses as well on Wednesday. When comparing the latest London PM fixings:

  • Gold declined $24.50, or 1.5%, to $1,601.00 an ounce,
  • Silver fell 50.0 cents, or 1.7%, to $28.31 an ounce,
  • Platinum lost $27.00, or 1.8%, to $1,459.00 an ounce, and
  • Palladium shed $10.00, or 1.6%, to $624.00 an ounce

Sales of U.S. Mint Bullion Coins

Sales levels were unchanged as of 4:24 PM ET for bullion coins issued by the U.S. Mint.

The following are the latest daily, June and year-to-date bullion coin sales totals as published by the U.S. Mint.

Sales of US Mint American Eagle and Buffalo Bullion Coins
  Daily Gains June Gains YTD 2012
$50 American Eagle Gold Coins 0 24,000 254,000
$25 American Eagle Gold Coins 0 1,000 55,000
$10 American Eagle Gold Coins 0 2,000 48,000
$5 American Eagle Gold Coins 0 5,000 155,000
$50 American Buffalo Gold Coins 0 5,000 70,000
American Eagle Silver Coins 0 1,700,000 16,234,000


Sales of America the Beautiful 5 Oz. Bullion Silver Coins
  Daily Gains June Gains All-Time Total
2012 El Yunque National Forest 5 oz. Bullion Silver Coins 0 4,300 9,700
2011 Olympic National Park 5 oz. Bullion Silver Coins 0 0 85,200
2011 Vicksburg National Military Park 5 oz. Bullion Silver Coins 0 200 38,600
2011 Chickasaw Park 5 oz. Bullion Silver Coins 0 0 28,900
TOTAL 0 4,500 162,400


Above U.S. Mint bullion coin sales are in coin totals, not the amount of ounces sold.

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James Lee

How and where can I buy american ‘Beautiful’ 5 Oz silver coin in Hong Kong?