Gold Dips, Silver and US Bullion Coins Flat

by on July 17, 2012 · 3 comments

Gold bars and coins

Gold dipped 0.1% Tuesday. Silver and US bullion coins were flat.

Gold edged lower for a second day Tuesday as investors were disappointed in Fed Chairman Ben Bernanke’s comments that the U.S. central bank was "prepared to take further action," which offered nothing new.

"The gold market’s reaction is suggesting that we are not going to get any stimulus any time soon until the economy deteriorates much further," Reuters quoted Phillip Streible, senior commodities broker at futures brokerage R.J. O’Brien. "I think these markets are going to be in a trading range for a while."

Gold prices for August delivery lost $2.10, or 0.1%, to settle at $1,589.50 an ounce on the Comex in New York. Gold traded between intraday ranges of $1,571.00 and $1,598.80.

In other New York precious metals futures:

  • Silver prices for September delivery were off a half cent to $27.316 an ounce, ranging from $26.720 to $27.595.

  • Platinum prices for October delivery advanced $3.40, or 0.2%, to $1,420.70 an ounce, trading between $1,408.00 and $1,432.10.

  • Palladium prices for September delivery added $5.50, or 1.0%, to $583.35 an ounce, trading between $574.05 and $586.95.

London Precious Metals

Precious metals in London were mixed as silver made solid gains while other moves were modest. When comparing the latest London PM fixings:

  • Gold lost $4.50, or 0.3%, to $1,585.25 an ounce,
  • Silver gained 37.0 cents, or 1.4%, to $27.42 an ounce,
  • Platinum slipped $1.00, or 0.1%, to $1,419.00 an ounce, and
  • Palladium added $2.00, or 0.3%, to $583.00 an ounce

U.S. Mint Bullion Coin Sales

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

Sale of US Mint American Eagle and Buffalo Bullion Coins
  Daily Gains July Gains YTD 2012
$50 American Gold Eagle Coins 0 17,000 302,000
$25 American Gold Eagle Coins 0 0 56,000
$10 American Gold Eagle Coins 0 2,000 54,000
$5 American Gold Eagle Coins 0 0 175,000
$50 American Buffalo Gold Coin 0 1,500 76,500
American Eagle Silver Coin 0 1,003,000 18,395,000


Sales of America the Beautiful 5 Oz. Silver Bullion Coins
  Daily Gains July Gains All-Time Total
2012 El Yunque National Forest 5 oz. Silver Bullion Coins 0 1,500 11,400
2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins 0 2,700 5,900
2011 Olympic National Park 5 oz. Silver Bullion Coins 0 100 85,300
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 4,300 170,100


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

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