Gold Prices Dip, Silver Falls. US Gold Coin Sales Up


Fine Gold Bars Gold prices retreated Thursday in thin trading after the Fourth of July holiday break. The yellow metal was hit by a stronger dollar as the ECB and PBOC cut rates. Gold was off 0.8% from Tuesday when it closed at the highest price since June 15.

Reuters reports that some investors stayed on the sidelines ahead of Friday’s U.S. jobs report.

“If the job numbers coming out tomorrow are better than expected, then you eliminate or start to change the psychology of any imminent Fed action,” Reuters quoted Frank McGhee, head precious metals traders at IBS Metals.

Gold prices for August delivery shed $12.40 to settle at $1,609.40 an ounce on the Comex in New York. Gold traded between an intraday low of $1,597.50 and a high of $1,624.50.

In other New York bullion futures:

  • Silver prices for September delivery lost 60.8 cents, or 2.1%, to close at $27.672 an ounce. Silver ranged from $27.495 to $28.380.

  • Platinum prices for October delivery settled at $1,477.70 an ounce, falling $13.70 or 0.9%. The PGM metal moved between $1,466.00 and $1,493.80.

  • Sister metal palladium also fell. Palladium prices for September delivery closed down $13.15, or 2.2%, to $585.75 an ounce. Prices ranged from $584.65 to $605.95.

London Precious Metals

Precious metals in London were mixed. When comparing the latest London PM fixings:

  • Gold prices declined $9.50, or 0.6%, to $1,604.00 an ounce,
  • Silver added 22.0 cents, or 0.8%, to $28.33 an ounce,
  • Platinum fell $17.00, or 1.1%, to $1,468.00 an ounce, and
  • Palladium lost $13.00, or 2.2%, to $588.00 an ounce

U.S. Mint Bullion Coin Sales

U.S. Mint silver coins were a no-show Thursday but sales of the bureau’s gold coins climbed. U.S. Mint authorized purchasers snapped up 3,500 ounces of American Gold Eagles and 500 ounces of American Gold Buffalo coins.

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 Eagle Gold Coin 3,000 5,000 290,000
$25 American Eagle Gold Coin 0 0 56,000
$10 American Eagle Gold Coin 2,000 2,000 54,000
$5 American Eagle Gold Coin 0 0 175,000
$50 American Buffalo Gold Coin 500 500 75,500
American Eagle Silver Coin 0 269,000 17,661,500


In other coin news, the ordering deadline for the 2012 American Silver Eagle Two-Coin Set is today at 5:00 PM ET. As of a few hours ago, its daily sales totaled 250,738 since its launch 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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