Gold Slips 0.1% on Week; US Mint Coin Sales Mixed

Gold and Silver Bullion
Silver, gold and platinum ended lower this week. Palladium advanced.

Gold was little changed this week, dipping 0.1% in mostly range-bound activity. In other precious metals weekly prices, silver was the biggest loser, sliding 0.9%, while palladium was the lone winner with its opposite increase of 0.9%.

On Friday, gold for June delivery settled up $5.10, or 0.4%, to $1,203.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Greece’s debt concerns are causing gold to stay right at $1,200, and it’s a driving factor of gold staying range-bound for now," Bloomberg News quoted Phil Streible, a senior market strategist at RJO Futures in Chicago. "I think the Fed will raise rates in the September meeting."

Gold prices have climbed 1.6% from their final settlement in 2014 at $1,184.10 an ounce. As for expectations next week, Kitco News offers the following in their Wall Street vs. Main Street survey

"In Wall Street vs. Main Street, out of 31 market professionals surveyed, 22 responded this week. According to the results, 13 experts, or 59%, see prices moving higher, while three, or 14%, see prices down and six, or 27%, see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

Turning to Main Street, 421 votes were collected in Kitco News’ online survey and the results were slightly closer compared to the market professionals. Of those who participated, 188 or 45%, are bullish on gold next week, 140, or 33% are bearish and 93 or 22% are neutral."

Silver for May delivery declined 6 cents, or 0.3%, to settle at $16.23 an ounce. Silver prices gave back 15 cents this week but they are 63 cents, or 4%, higher on the year.

In PGM futures on Friday:

  • July platinum added $8.30, or 0.7%, to $1,167.50 an ounce, but fell 0.3% from a week ago.

  • Palladium for June delivery added $3.20, or 0.4%, to $782.95 an ounce.

For the year to date, platinum is down 3.5% and palladium is off 1.9%.

London Precious Metals Prices

London precious metals prices declined on Friday and, except for palladium, also on the week. In comparing London bullion prices from Thursday PM to Friday PM:

  • Gold fell $1, or less than 0.1%, to $1,203.35 an ounce,
  • Silver shed 11 cents, or 0.7%, to $16.36 an ounce,
  • Platinum fell $6, or 0.5%, to $1,161 an ounce, and
  • Palladium rose $1, or 0.1%, to $777 an ounce.

Palladium was unchanged on the week while the other metals registered declines of 0.3% for gold, 1.1% for silver and 0.9% for palladium.

US Mint Bullion Coin Sales in April

United States Mint bullion products started the week strong when on Tuesday gold coins advanced the most in more than a week and silver coins jumped the most in a month. Since then, however, sales have been silent. In the latest weekly bullion coin sales comparisons:

  • Gold coins advanced 7,500 ounces after rising 6,000 ounces in the prior week. Splits were 6,000 ounces in American Gold Eagles compared to 3,500 ounces previously, and 1,500 ounces in American Gold Buffalo coins compared to 2,500 ounces previously.

  • Silver coins rose 575,500 ounces after increasing 771,000 ounces in the previous week. All sales came from American Silver Eagles as Homestead silver coins sold out on March 31 and the next five ounce coin is not yet released.

This listing of U.S. Mint bullion products show the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Friday Sales Last Week Current Week March Sales April Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 1,500 5,000 35,000 6,500 105,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 5,000 2,000 27,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 0 8,000 2,000 46,000
$5 American Eagle 1/10 Oz Gold Coins 0 10,000 10,000 70,000 20,000 255,000
$50 American Buffalo 1 Oz Gold Coins 0 2,500 1,500 9,500 5,500 61,500
$1 American Eagle 1 Oz Silver Coins 0 771,000 575,500 3,519,000 1,418,500 13,489,500
2015 Homestead 5 Oz Silver Coins* 15,000 35,000


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Paul Murphy

Same amount of gold in the world 100 years ago where is the demand circuit boards?