Gold and Silver Prices Retreat, US Coin Sales Rise


Fine Gold Bars Gold prices retreated on the first trading day of a new month, new quarter and new half of the year. Prices on Monday dipped $6.50 and under $1,600 an ounce after soaring nearly $54 on Friday.

"The yellow metal started the abbreviated trading week in profit-raking mode as did the rest of the precious metals’ complex," noted Jon Nadler, Senior Metals Analyst at Kitco Metals Inc.

Gold prices for August delivery settled down 0.4% to $1,597.70 an ounce on the Comex in New York, trading between an intraday low of $1,587.40 and a high of $1,603.60.

"After all the excitement on Friday, and the improvement in technicals, we are still range bound and are still in the same broad range that we’ve been in since the beginning of May," Reuters quoted Stanley Dash, vice president of applied technical analysis at TradeStation.

In other New York bullion futures:

  • Silver prices for September delivery edged down 11.3 cents, or 0.4%, to settle at $27.499 an ounce. Silver prices on the day moved between $27.185 and $27.605.

  • Platinum was an outlier in precious metals. Platinum prices for October delivery advanced $5.90, or 0.4%, to close at $1,458.30 an ounce. The PGM metal bracketed a low of $1,435.30 and a high of $1,459.20.

  • Palladium prices for September delivery declined $6.55, or 1.1%, to $578.00 an ounce. Palladium traded between $576.65 and $586.45.

London Precious Metals

In starting the new week, London precious metals were mixed with gold down and the others up. When comparing the latest London PM fixings:

  • Gold declined $6.50, or 0.4%, to $1,592.00 an ounce,
  • Silver prices gained 28.0 cents, or 1.0%, to $27.36 an ounce,
  • Platinum advanced $13.00, or 0.9%, to $1,441.00 an ounce, and
  • Palladium added $2.00, or 0.3%, to $580.00 an ounce

U.S. Mint Bullion Coin Sales

Silver products led U.S. Mint bullion coin sales on Monday. The bureau’s one ounce American Silver Eagle rose 269,000 and its five ounce El Yunque National Forest 5 oz. Silver Bullion Coin added 100. Also advancing on the day was the one ounce American Gold Eagle, up 2,000.

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

US Mint American Eagle and Buffalo Bullion Coin Sales
  Daily/July Gains YTD 2012
$50 American Gold Eagle Coin 2,000 287,000
$25 American Gold Eagle Coin 0 56,000
$10 American Gold Eagle Coin 0 52,000
$5 American Gold Eagle Coin 0 175,000
$50 American Buffalo Gold Coins 0 75,000
American Silver Eagle Coins 269,000 17,661,500


America the Beautiful 5 Oz. Bullion Silver Coin Sales
  Daily/July Gains All-Time Total
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 100 10,000
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 3,200
2011 Olympic National Park 5 oz. Silver Bullion Coins 0 85,200
2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins 0 38,600
2011 Chickasaw Park 5 oz. Silver Bullion Coins 0 28,900
TOTAL 100 165,800


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

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