Gold, Silver Advance; 2015 Silver Eagles Top 30M

Bullion Silver Eagle, Bullion Bar and Other Silver Coins
U.S. Mint sales of 2015 American Silver Eagles topped 30 million for the year

Gold and silver futures closed modestly higher in their start to the new trading week on Monday.

Gold for December delivery added $5.70, or 0.5%, to settle at $1,118.40 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal ranged from a low of $1,112.90 to a high of $1,122.20.

"Gold prices ended the U.S. day session firmer Monday, on some more safe-haven buying and following a much weaker-than-expected U.S. economic report issued in morning trading," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"Gold prices were sporting modest gains and then extended those gains when the Empire State manufacturing survey came in at a much worse-than-expected reading of -14.9 in August from plus 3.86 in July," Wyckoff added.

Economists were expecting a positive reading of 4.50, with a number above zero indicating growth.

Gold prices advanced 1.7% last week even as they declined in the prior two sessions.

Silver for September delivery rose 9 cents, or 0.6%, to close at $15.30 an ounce. Silver prices traded from a low of $15.18 to a high of $15.37. They surged last week by 2.6%.

In PGM futures on Monday:

  • October platinum gained $6.70, or 0.7%, to $1,000.70 an ounce, ranging from $989.50 to $1,001.50.

  • Palladium for September delivery shed $3.70, or 0.6%, to $613.80 an ounce, trading between $608.85 and $619.70.

Last week, platinum climbed 3.3% and palladium jumped 3.5%.

London Precious Metals Prices

Earlier fixed London gold and silver prices were divided. In comparing London bullion prices from Friday PM to Monday PM:

  • Gold edged up 55 cents to $1,118.80 an ounce.
  • Silver declined 32 cents, or 2.1%, to $15.23 an ounce.

LBMA platinum and palladium prices are displayed on the LBMA’s website with a delay of midnight after the setting of the prices each day.

Last week, the metals posted gains of 2.3% for gold, 3.5% for palladium and 5.4% for both silver and platinum.

US Mint Bullion Coin Sales in August

United States Mint bullion products advanced on Monday with American Eagle gold coins gaining 4,000 ounces and American Eagle silver coins rising 852,500 ounces.

The U.S. Mint continues to restrict sales of American Silver Eagles. The agency has allocated 1,187,500 coins for this week, and there are now 335,000 left with Monday’s haul. Last week’s allocation of 1 million coins was claimed by Wednesday.

Year-to-date Silver Eagle sales stand at over 30 million. In 2014 when sales ended at a record 44,006,000, the coins by Aug. 17, 2014 reached sales of 27,283,500.

Below is a listing of U.S. Mint bullion products with 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 July Sales August Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 2,500 7,500 144,500 14,000 357,000
$25 American Eagle 1/2 Oz Gold Coins 1,000 1,000 10,000 2,000 48,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 28,000 6,000 104,000
$5 American Eagle 1/10 Oz Gold Coins 10,000 15,000 135,000 30,000 555,000
$50 American Buffalo 1 Oz Gold Coins 0 3,000 32,000 4,000 132,500
$1 American Eagle 1 Oz Silver Coins 852,500 1,000,000 5,529,000 3,032,500 30,347,500
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 10,000 45,000


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