Precious Metals Rebound, Silver Eagle Bullion Coins Top 23M

Three 2013 American Silver Eagle Bullion Coins
Silver Eagle bullion coins topped 23 million in sales, the quickest in a year the milestone has been hit

Precious metals on Monday rebounded, mostly modestly, after plummeting in the previous session.

Gold for August delivery inched up $3.00, or 0.2%, to finish at $1,386.00 an ounce on the Comex in New York. Prices traded from an intraday low of $1,375.10 to a high of $1,388.50.

"Short covering and technical chart consolidation were featured Monday, following Friday’s solid selling pressure," said Jim Wyckoff, senior analyst at, in a note.

"Standard & Poors upgraded the U.S. government’s credit rating from negative to stable Monday morning, which did put some initial, modest downside price pressure on gold and boosted the U.S. dollar index to its daily high. The impact of that news was short-lived, however, as gold prices drifted back toward unchanged shortly thereafter," Wyckoff added.

Gold tumbled $32.80 on Friday, taking away earlier-day gains and driving prices down 0.7% last week.

Silver for July delivery advanced 18.2 cents, or 0.8%, to settle at $21.93 an ounce. It ranged from a low of $21.33 to a high of $22.03. Silver also sank Friday, off 96.4 cents, to end 2.3% lower last week.

In PGM’s on Monday:

  • July platinum gained $4.30, or 0.3%, to $1,506.90 an ounce, trading between $1,487.30 and $1,509.30.

  • Palladium for September delivery surged $8.20, or 1.1%, to $769.40 an ounce, ranging from $753.70 to $771.60.

Both precious metals advanced last week despite Friday losses. Platinum gained 2.8% and palladium added 1.0%.

London Fix Precious Metals

London precious metals fixing retreated Monday, except for palladium. In comparing the Friday PM to Monday PM London Fix prices:

  • Gold dipped $2.75, or 0.2%, to $1,383.25 an ounce,
  • Silver lost 79.0 cents, or 3.5%, to $21.81 an ounce,
  • Platinum shed $7.00, or 0.5%, to $1,498.00 an ounce, and
  • Palladium added $5.00, or 0.7%, to $759.00 an ounce

Last week, precious metals in London were mixed with gold down 0.6% while others moved higher. Gaining were silver by 0.1%, platinum by 3.2% and palladium by 1.3%.

US Bullion Coin Sales in June

Sales advanced for every type of U.S. Mint bullion coin. In total, gold coins gained 7,500 ounces and silver coins rose 690,000 ounces.

American Silver Eagle bullion coins on Monday notched year-to-date sales of more than 23.2 million. The Silver Eagle annual sales record occurred in 2011 at just under 40 million coins. Then, it took until July 11, 2011 to match the sales that have already occurred this year. Last year, the total had not been reached until September 10, 2012.

The following are daily, June and year-to-date bullion coin totals as provided by the United States Mint.

American Eagle and Buffalo Bullion Coin Sales
  Monday Sales Last Week June Sales YTD Sales
$50 American Eagle Gold Bullion Coins 3,500 14,000 17,500 513,000
$25 American Eagle Gold Bullion Coins 0 0 0 42,000
$10 American Eagle Gold Bullion Coins 0 0 0 78,000
$5 American Eagle Gold Bullion Coins 15,000 30,000 45,000 405,000
$50 American Buffalo Gold Bullion Coins 2,500 4,500 7,000 151,500
White Mountain 5 oz. Silver Bullion Coins 0 0 0 25,800
Perry’s Victory 5 oz. Silver Bullion Coins 2,300 8,000 10,300 10,300
American Silver Eagle Bullion Coins 678,500 782,000 1,460,500 23,229,000


Figures above are in the number of coins sold, not in ounces.

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