Gold, Silver Gain; US Silver Coins Advance

Several Gold Bars
Gold and silver rallied Tuesday. U.S. Mint silver coins also advanced.

Gold closed to its highest price in a week Tuesday after dipping Monday for the fourth time in five sessions.

Gold for June delivery rebounded $14.20, or 0.9%, to end at $1,586.70 an ounce on the Comex in New York. The settlement price was the highest since April 1. Gold moved through an intraday range of between $1,570.00 and $1,590.10.

"Gold prices rallied during the U.S. trading session Tuesday, boosted on short covering and bargain hunting following recent losses that last week pushed prices to a 10-month low," noted Jim Wyckoff of Kitco News.

"The weaker U.S. dollar index Tuesday also prompted fresh buying interest in gold and silver markets."

Last week gold prices dropped $19.80 or 1.2%. The precious metal on Thursday had closed to $1,552.40 an ounce, the lowest price since June 28.

In other New York precious metals futures:

  • Silver for May delivery surged 74.3 cents, or 2.7%, to $27.881 an ounce, trading between $27.14 and $28.02.

  • July platinum gained $16.10, or 1.1%, to $1,553.10 an ounce, ranging from $1,533.90 to $1,560.00.

  • Palladium for June delivery edged up $3.20, or 0.4%, to $733.00 an ounce, trading between $726.00 and $738.50.

Bullion Prices in London

Precious metals in London logged mostly narrow changes. In contrasting the Monday PM to Tuesday PM London fixings:

  • Gold added $2.25, or 0.1%, to $1,577.25 an ounce,
  • Silver dipped 2.0 cents, or 0.1%, to $27.25 an ounce,
  • Platinum gained $10.00, or 0.7%, to $1,542.00 an ounce, and
  • Palladium added $1.50, or 0.2%, to $732.00 an ounce

US Bullion Coin Sales in April

Sales of U.S. Mint bullion products were limited Tuesday to silver coins. American Silver Eagles went up 61,500, a modest increase following their 833,0000 burst on Monday.

The table below offers daily, April and year-to-date bullion coin sales totals as reported by the United States Mint.

American Eagle and Buffalo Bullion Coin Sales
  Tuesday Sales Last Week Week-To-Date Sales April Sales YTD Sales
$50 American Eagle Gold Bullion Coins 0 19,000 19,000 38,000 284,500
$25 American Eagle Gold Bullion Coins 0 1,000 3,000 4,000 30,000
$10 American Eagle Gold Bullion Coins 0 2,000 2,000 4,000 50,000
$5 American Eagle Gold Bullion Coins 0 20,000 5,000 25,000 240,000
$50 American Buffalo Gold Bullion Coins 0 2,000 2,000 4,000 99,000
American Eagle Bullion Silver Coins 61,500 812,000 894,500 1,706,500 15,929,500


All bullion figures above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.

2011-2012 America the Beautiful Five Ounce Bullion Silver Coins sold out on March 1. The U.S. Mint has not released any of this year’s coins.

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