Gold, Silver Rally. American Eagle Coins Unchanged


Fine Gold Bars Gold on Tuesday settled to its highest price in more than two weeks, supported by investor anticipation that the ECB will ease its monetary policy following a meeting on Thursday.

"People are expecting some form of easing both in the U.S. and Europe," Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview that was relayed on Bloomberg. "The chatter is growing louder."

Gold prices for August delivery climbed $24.10, or 1.5% to $1,621.80 an ounce on the Comex in New York. The settlement was the highest for gold since June 15. Gold moved between intraday levels of $1,595.30 and $1,625.70. Gold prices dipped $6.50 in the previous session.

"Bullion extended Friday’s gains on a technical breach of $1,600," VTB Capital analyst Andrey Kryuchenkov said, according to Reuters. "Just as before, gold continues to track the broader market, with sentiment still upbeat in the wake of the euro zone summit in Brussels at the end of last week… many are expecting a rate cut by the ECB on Thursday."

In other New York bullion futures:

  • Silver prices for September delivery shot up 78.1 cents, or 2.8%, to $28.280 an ounce. Silver ranged between $27.390 and $28.445.

  • Platinum prices for October delivery closed to $1,491.40 an ounce, gaining $33.10 or 2.3%. It traded from a low of $1,449.20 to a high of $1,493.80.

  • Palladium prices for September delivery surged $20.90, or 3.6%, to $598.90 an ounce. Prices ranged from $574.30 to $600.25.

London Precious Metals

Precious metals in London were higher as well. When comparing the latest London PM fixings:

  • Gold added $25.50, or 1.6%, to $1,617.50 an ounce,
  • Silver rose 56.0 cents, or 2.0%, to $27.92 an ounce,
  • Platinum advanced $34.00, or 2.4%, to $1,475.00 an ounce, and
  • Palladium gained $11.00, or 1.9%, to $591.00 an ounce

U.S. Mint Bullion Coin Sales

U.S. Mint bullion coin sales levels were unchanged Tuesday as of 3:57 PM ET. 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 Gains July Gains YTD 2012
$50 American Gold Eagle Coin 0 2,000 287,000
$25 American Gold Eagle Coin 0 0 56,000
$10 American Gold Eagle Coin 0 0 52,000
$5 American Gold Eagle Coin 0 0 175,000
$50 American Buffalo Gold Coins 0 0 75,000
American Silver Eagle Coins 0 269,000 17,661,500


In other coin news, the order deadline for the 2012-S American Silver Eagle Two-Coin Proof Set is Thursday at 5:00 PM ET. As of today, the U.S. Mint has sold 217,351 since its release on June 7, 2012.

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


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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