Gold Falls, Silver Eagle Coins Race to 17.3M in Best Pace

Bullion American Silver Eagles
Silver Eagle coins hit 17.3 million in sales, the quickest pace ever through April 22

Gold prices closed at a three-week low Tuesday, extending a losing streak to three sessions.

Gold for June delivery settled down $7.40, or 0.6%, to $1,281.10 an ounce on the Comex division of the New York Mercantile Exchange. The closing was the lowest since gold ended at $1,280 an ounce on April 1. Gold prices ranged from a low of $1,275.80 to a high of $1,293.10.

"There’s no doubt that the technical picture in gold looks very sloppy (in the short term), especially if key support between $1,277-$1,280 gives way," Reuters quoted INTL FCStone analyst Edward Meir. "Recent ETF outflows and questions about end-user Chinese demand in light of reports that a considerable tonnage of imports was being siphoned off into financing deals, is also weighing on prices."

Other precious metals were mixed. In their daily closings:

  • Silver for May delivery added a penny to $19.36 an ounce. The white metal traded between $19.29 and $19.53.

  • July platinum dipped 40 cents to $1,400.30 an ounce, ranging from $1,392.80 to $1,413.50.

  • Palladium for June delivery gained $5.85, or 0.8%, to $783.65 an ounce, trading between $779 and $789.70.

London Fix Precious Metals

London markets reopened following a long break for Easter. In contrasting the London fix prices from Thursday PM to Tuesday PM:

  • Gold lost $12.25, or 0.9%, to $1,286.75 an ounce,
  • Silver fell 11 cents, or 0.6%, to $19.51 an ounce,
  • Platinum dropped $34, or 2.4%, to $1,403 an ounce, and
  • Palladium declined $14, or 1.7%, to $787 an ounce

US Mint Bullion Sales in March

U.S. Mint sales advanced across a wide selection of bullion coins. In ounces, overall sales of gold coins rose 3,000 while silver coins advanced 399,000.

In the notable column, bullion Silver Eagle coins topped 17.3 million in year-to-date sales. The series has been around since 1986 and sales have never been as high during the January through April 22 period. Tuesday is the first time that Silver Eagle sales surpassed those from last year which were at 17,291,000 on the 22nd.

Below is a sales breakdown for U.S. Mint bullion products with columns listing the number of bullion coins sold on Tuesday, last week, this week so far, last month, the month-to-date, and this year so far.

American Eagle and Buffalo Bullion Sales (# of coins)
Tuesday Sales Sales Last Week Week-To-Date Sales March Sales April Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 100 300 100 10,000 1,000 11,000
$50 American Eagle Gold Bullion Coins 1,500 7,500 1,500 16,000 21,000 121,500
$25 American Eagle Gold Bullion Coins 0 0 0 2,000 1,000 18,000
$10 American Eagle Gold Bullion Coins 2,000 8,000 2,000 4,000 20,000 62,000
$5 American Eagle Gold Bullion Coins 5,000 10,000 5,000 30,000 35,000 275,000
$50 American Buffalo Gold Bullion Coins 500 3,000 500 12,000 13,500 79,000
$1 American Eagle Silver Bullion Coins 399,000 1,085,000 1,090,500 5,354,000 3,519,000 17,398,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins N/A* 7,400 600 12,400 10,600 23,000


*The U.S. Mint on Monday, April 21, said it temporarily sold out of Great Smoky Mountains National Park 5 Oz Silver Bullion Coins and that it would have additional inventory available in a few weeks.

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