Gold Rises on Greek Worries; US Mint Bullion Coin Sales Soar

American Silver Eagle and Silver Bullion Barl
Monday’s American Silver Eagle sales increase was biggest since the day the 2015-dated version launched on Jan. 12.

Catching some safe-haven bids as the financial crisis in Greece deepened on Monday, gold futures climbed for a second session in a row after falling for five straight.

Gold for August delivery tacked on $5.80, or 0.5%, to close at $1,179 an ounce on the Comex division of the New York Mercantile Exchange. Friday’s gain was more modest at 0.1%.

"Gold historically has always been the safe, tangible commodity which had appeal in times of turbulence, but recently, gold has increasingly trading off U.S. rate hike expectations, and how the dollar performs against the euro," Reuters quoted ING analyst Hamza Khan.

"Today we have all of this concern around Grexit creating bullish sentiment for gold, but at the same time we have weakness in the euro creating bearish sentiment for gold, and they’re effectively cancelling each other out."

The precious metal traded from a low of $1,173.20 to a high of $1,187.60. Gold prices last week dropped by 2.4%.

Silver for July delivery shed 4 cents, or 0.3%, to settle at $15.70 an ounce. Silver prices ranged from $15.66 to $16.04. They sank last week by 2.3%.

In PGM futures on Monday:

  • October platinum added $1.60, or 0.2%, to $1,082.30 an ounce, trading between $1,068.50 and $1,097.10.

  • Palladium for September declined $12.15, or 1.8%, to $666.45 an ounce, ranging from $665.20 to $681.95.

Last week, platinum fell by 0.6% and palladium tumbled by 4.1%.

London Precious Metals Prices

Earlier fixed London precious metals prices changed slightly, or not at all. In comparing London bullion prices from Friday PM to Monday PM:

  • Gold rose $5.50, or 0.5%, to $1,176 an ounce,
  • Silver was unchanged at $15.83 an ounce,
  • Platinum gained $7, or 0.7%, $1,081 an ounce, and
  • Palladium declined $3, or 0.4%, to $673 an ounce.

Last week they fell with losses totaling 2.7% for gold, 1.8% for silver, 1% for platinum and a hefty 5.8% for palladium.

US Mint Bullion Coin Sales in June

United States Mint bullion sales soared on Monday with every available coin advancing. Gains included 11,000 ounces in gold coins and 1.15 million in American Silver Eagles. The Silver Eagle increase was biggest since the day the 2015-dated version launched on Jan. 12.

Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Monday Sales Last Week May Sales June Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 6,000 12,500 13,500 56,500 192,500
$25 American Eagle 1/2 Oz Gold Coins 1,000 1,000 3,000 4,000 36,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 0 10,000 10,000 68,000
$5 American Eagle 1/10 Oz Gold Coins 5,000 20,000 40,000 80,000 385,000
$50 American Buffalo 1 Oz Gold Coins 3,500 3,500 9,500 19,500 95,000
$1 American Eagle 1 Oz Silver Coins 1,150,000 1,090,000 2,023,500 4,840,000 21,786,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 12,000 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins** 35,000 N/A 35,000 35,000


**The Blue Ridge Parkway bullion coin temporarily sold out on the day of its launch, June 22.

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