Gold Starts Week Higher, Silver Eagle Coins Top 20M

American Silver Eagle coins
Silver Eagle coins topped 20 million in sales this year, a milestone reached only three other times in the coin’s 26-year history.

Gold rose for a second session Monday, closing to the highest price in a week. Support came from a weaker U.S. dollar and continued speculation of eventual Fed easing.

In starting the new trading week, gold prices for December delivery added $6.90, or 0.4%, to $1,616.20 an ounce. Gold traded between an intraday low of $1,605.30 and a high of $1,618.40. Prices dipped 0.5% last week.

"The key outside markets did turn bullish for the precious metals as the day progressed — the U.S. dollar index weakened and crude oil prices firmed," said Jim Wyckoff in the Kitco Metals Roundup.

"The general market place was quieter to start the trading week, as there were no major news developments. It appears the summertime doldrums are now gripping many markets, including the precious metals."

In other New York precious metals futures:

  • Silver prices for September delivery edged up 6.2 cents, or 0.2%, to settle at $27.863 an ounce. The white metal bracketed intraday prices of $27.565 and $27.950.

  • Platinum for October delivery declined $12.50, or 0.9%, to close at $1,401.90 an ounce. The PGM metal ranged from a low of $1,390.10 to a high of $1,410.00.

  • Palladium for September delivery climbed $1.35, or 0.2%, to $579.55 an ounce, trading between $573.70 and $582.10.

Last week, silver and palladium each advanced 1.1% while platinum gained 0.4%.

London Precious Metals

Precious metals in London logged gains in the week’s start. In contrasting London PM Fix prices:

  • Gold added $8.00, or 0.5%, to $1,610.00 an ounce,
  • Silver surged 47.0 cents, or 1.7%, to $27.72 an ounce,
  • Platinum edged up $6.00, or 0.4%, to $1,396.00 an ounce, and
  • Palladium climbed $3.00, or 0.5%, to $576.00 an ounce

In London bullion prices last week, there were across-the-board losses of 1.0% for gold, 1.7% for silver, 1.4% for platinum and 0.2% for palladium.

Sales of U.S. Mint Bullion Coins

U.S. Mint sales of American Silver Eagle coins surged 585,000, topping in a single day last week’s entire 510,000 total. The bullion coins also surpassed 20 million in sales for a year for only the fourth time since introduced in 1986.

America the Beautiful 5 Ounce Silver Coins continue to enjoy stronger demand. Five ounce coin sales advanced 900 coins.

Also advancing on the day were one-ounce American Gold Eagle coins. Sales climbed 1,000.

Below are the most recent daily, August and year-to-date sales totals for U.S. Mint bullion coins.

US Mint American Eagle and Buffalo Bullion Coin Sales
  Daily Gains August Gains YTD 2012
$50 American Gold Eagle Coins 1,000 3,500 317,000
$25 American Gold Eagle Coins 0 0 56,000
$10 American Gold Eagle Coins 0 0 54,000
$5 American Gold Eagle Coins 0 5,000 195,000
$50 American Buffalo Gold Coins 0 2,500 81,500
American Silver Eagle Coins 585,000 765,000 20,435,000


America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Daily Gains August Gains All-Time Total
2012 El Yunque National Forest 5 oz. Silver Coins 300 400 13,600
2012 Chaco Culture National Historical Park 5 oz. Silver Coins 300 400 7,800
2012 Acadia National Park 5 oz. Silver Coins 300 600 10,500
2011 Olympic National Park 5 oz. Silver Coins 0 0 85,500
2011 Vicksburg National Military Park 5 oz. Silver Coins 0 0 39,100
2011 Chickasaw Park 5 oz. Silver Coins 0 0 29,400
TOTAL 900 1,400 185,900


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

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