Gold, Silver Snap 3-Day Losing Streak, US Silver Coins Rise

US Silver Coins
US Silver Eagle bullion coins rose Thursday for the first time in three days.

Gold climbed for the first time this week, supported by a weaker U.S. dollar and increasing safe-haven interest.

Gold prices for August delivery rose $9.60, or 0.6%, to close at $1,580.40 an ounce on the Comex in New York. The yellow metal traded as low as $1,572.10 and reached a high of $1,591.50.

"The key outside markets were in a bullish posture for the precious metals — weaker U.S. dollar index and higher crude oil prices. Trading in gold and silver remains choppy and sideways on the daily charts," notes Jim Wyckoff in the P.M. Kitco Metals Roundup.

"Don’t be surprised to see more of the same for at least the next couple weeks as the dog days of summer approach."

In other New York bullion futures:

  • Silver prices for September settled at $27.217 an ounce, gaining 12.2 cents or 0.5%. Silver ranged from $27.100 to $27.575.

  • Platinum prices for October delivery jumped $18.90, or 1.3%, to $1,423.10 an ounce, trading between $1,406.10 and $1,427.90.

  • Palladium prices for September delivery surged $7.30, or 1.3%, to $584.85 an ounce, ranging from $574.30 to $586.35.

London Precious Metals

Bullion prices in London rebounded as well. When comparing the latest London PM fixings:

  • Gold gained $8.75, or 0.6%, to $1,584.00 an ounce,
  • Silver added 42.0 cents, or 1.6%, to $27.45 an ounce,
  • Platinum rose $10.00, or 0.7%, to $1,415.00 an ounce, and
  • Palladium advanced $5.00, or 0.9%, to $581.00 an ounce

U.S. Mint Bullion Coin Sales

Sales of U.S. Mint bullion coins had been silent for two days until Thursday when the Silver Eagle advanced 100,000.

No other additions were published by the Mint. Unless there are sharp gains on Friday, weekly bullion coin sales will be among the weakest of the year.

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 Coins 0 1,500 76,500
American Eagle Silver Coins 100,000 1,103,000 18,495,000


Sales of America the Beautiful 5 Oz. Bullion Silver Coins
  Daily Gains July Gains All-Time Total
2012 El Yunque National Forest 5 oz. Silver Coins 0 1,500 11,400
2012 Chaco Culture National Historical Park 5 oz. Silver Coins 0 2,700 5,900
2011 Olympic National Park 5 oz. Silver Coins 0 100 85,300
2011 Vicksburg National Military Park 5 oz. Silver Coins 0 0 38,600
2011 Chickasaw Park 5 oz. Silver Coins 0 0 28,900
TOTAL 0 4,300 170,100


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

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