Gold Falls 1.2%, Silver Dives 3.8%; US Coin Sales Rise

Layers of Gold Bullion
Precious metals tumbled on Monday

Gold and other precious metals kicked off the new trading week with losses. Silver was the biggest loser, diving 3.8%.

Gold for December delivery fell $13.90, or 1.2%, to close at $1,131.70 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices ranged from a low of $1,127.30 to a high of $1,147.80.

"The yellow metal saw no significant safe-haven demand despite a sell-off in most world stock markets Monday, including sharp losses in the U.S. stock indexes," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"Also bearish for the precious metals are ideas a strengthening U.S. economy will support a continued rise in the value of the U.S. dollar — even though the dollar index was weaker on this day."

Gold slipped 0.7% on Friday, though still managed an opposite 0.7% weekly gain.

Silver for December delivery fell 57 cents to settle at $14.54 an ounce. Silver prices traded between $14.47 and $15.11. The precious metal last week gave back 0.3%.

In PGM futures on Monday:

  • January platinum declined $28.80, or 3%, to $922.50 an ounce, ranging from $918.20 to $952.

  • Palladium for December delivery fell $15.75, or 2.4%, to $651.85 an ounce, trading between $644 and $670.15.

Last week, platinum tumbled 3.4% while palladium surged 9.3%, the biggest weekly increase since December 2011.

London Precious Metals Prices

Earlier fixed London gold and silver prices also declined. In comparing their prices from Friday PM to Monday PM:

  • Gold fell $15.60, or 1.4%, to $1,131.05 an ounce.
  • Silver declined 29 cents, or 1.9%, to $14.70 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

Last week, gold added 0.5% and palladium jumped 10% while silver slipped 1.8% and platinum dropped 4.2%.

US Mint Bullion Coin Sales in September

United States Mint bullion sales on Monday logged gains of 7,500 ounces in gold coins and 871,000 ounces in silver coins.

Sales splits in gold coins include 6,500 ounces in American Gold Eagles and 1,000 ounces in American Gold Buffalo coins.

Sales splits in silver coins include 178,000 ounces from the new America the Beautiful Five Ounce Silver Bullion Coin featuring Bombay Hook National Wildlife Refuge in Delaware. The coin is the fourth of five for this year, released on Monday, with the three earlier issues selling out.

The remaining 693,000 ounces in silver sales are from bullion American Silver Eagles. The U.S. Mint allocated 1 million for this week. With Monday’s gains, there are 307,000 left until Oct. 5.

American Silver Eagle sales at 35,747,500 for the year are up 14.7% from the same time in 2014. Last year when Silver Eagle sales ended at an annual record totaling 44,006,000, the coins by Sept. 28, 2014 reached sales of 31,161,000.

Below is a listing of United States 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 August Sales Sept Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 6,000 12,500 78,500 95,000 516,500
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 8,000 8,000 62,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 4,000 24,000 18,000 140,000
$5 American Eagle 1/10 Oz Gold Coins 0 55,000 130,000 165,000 820,000
$50 American Buffalo 1 Oz Gold Coins 1,000 3,000 20,000 20,500 169,000
$1 American Eagle 1 Oz Silver Coins 693,000 750,000 4,935,000 3,497,500 35,747,500
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 45,000
2015 Bombay Hook 5 Oz Silver Coins 35,600 N/A N/A 35,600 35,600


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