Gold Adds 0.7%, US Mint Gold Sales Highest Since Dec. 2009

Stacked bullion
Gold settled it its highest price since Friday. American Eagle gold coin sales are now the highest for a month since December 2009.

Gold prices climbed 0.7% Thursday to take a small bite out of recent losses. Physical demand for the precious metal continues to grow.

Gold for June delivery settled up $9.80 to $1,392.50 an ounce on the Comex in New York. Prices traded between intraday levels of $1,335.60 and $1,402.00.

"The futures-market led attack on the gold price backfired to some extent, as the widespread buying of physical gold induced by this price anomaly will now start to drive the price upward," MarketWatch quoted James West, portfolio adviser to the Midas Letter Opportunity Fund.

Gold prices are still off $172.40, or 11%, from a week ago.

Silver for May delivery slipped 6.2 cents, or 0.3%, to $23.245 an ounce, another fresh low not seen since October 2010. Silver prices ranged from $22.435 to $23.655.

In other New York precious metals futures Thursday:

  • July platinum declined $6.40, or 0.5%, to $1,429.00 an ounce, trading between $1,403.10 and $1,444.30.

  • Palladium for June delivery advanced $8.40, or 1.3%, to $669.80 an ounce, ranging from $654.00 to $676.95.

London Fix

Precious metals in London split with gold and silver higher and platinum and palladium lower. In contrasting the Wednesday PM to Thursday PM London Fix prices:

  • Gold rose $1.75, or 0.1%, to $1,393.75 an ounce,
  • Silver added 20.0 cents, or 0.9%, to $23.51 an ounce,
  • Platinum declined $4.00, or 0.3%, to $1,432.00 an ounce, and
  • Palladium lost $1.00, or 0.1%, to $670.00 an ounce

US Bullion Coin Sales in April

U.S. Mint sales of American Eagle gold coins advanced by 6,000 ounces Thursday after setting a one-day 2013 sales record of 63,500 ounces on the previous day. April sales now total 153,000 ounces, and almost half of the month remains. The level is the strongest for a month since December 2009.

Sales of American Buffalo gold coins rose 1,000. Sales of the U.S. Mint’s most popular bullion product, the American Silver Eagle, were unchanged.

U.S. Mint bullion sales by day, for April and the year-to-date follow.

American Eagle and Buffalo Bullion Coin Sales
  Thursday Sales Last Week Week-To-Date Sales April Sales YTD Sales
$50 American Eagle Gold Bullion Coins 2,500 25,500 91,000 135,500 382,000
$25 American Eagle Gold Bullion Coins 2,000 3,000 7,000 11,000 37,000
$10 American Eagle Gold Bullion Coins 6,000 2,000 16,000 20,000 66,000
$5 American Eagle Gold Bullion Coins 10,000 10,000 40,000 70,000 285,000
$50 American Buffalo Gold Bullion Coins 1,000 5,000 12,000 19,000 114,000
American Eagle Bullion Silver Coins 0 900,000 675,000 2,387,000 16,610,000


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 Silver Bullion Coins sold out on March 1. The U.S. Mint is not yet selling any of this year’s five ounce coins.

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