Gold Slips, Silver Falls from Near 2-Year High; US Coin Sales Rise

Gold, Coins and Scale
Gold shed 0.8% and silver lost 0.5%

Gold futures turned lower Thursday, posting their fifth loss in six sessions. Silver also fell, slipping from a 23.5-month high, while platinum and palladium gained as a pair for a second day in a row.

Gold for August delivery declined $11.40, or 0.8%, to settle at $1,332.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ranged from a low of $1,320.40 to a high of $1,348, after rising 0.6% in the prior session.

"Britain has got a new prime minister, which, alongside expectations of more stimulus from the Bank of England, has brought a sense of relief to markets, so gold is easing and everything else is rising on that," Reuters quoted Citi strategist David Wilson said. "But the whole process of Brexit negotiations, which hasn’t started yet, implies financial risks that will be supportive for the metal in the medium term."

Silver for September delivery shed 9.1 cents, or 0.5%, to settle at $20.322 an ounce. Silver futures traded between $20.06 and $20.62. On Wednesday, they jumped 1.2% and ended at their highest level since July 30, 2014.

In other precious metals futures:

  • October platinum rose $4.40, or 0.4%, to $1,104.60 an ounce, ranging from $1,084.20 to $1,105.50.

  • Palladium for September delivery gained $6.90, or 1.1%, to $651.10 an ounce, trading between $636.65 and $652.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold fell $19.15, or 1.4%, to $1,323.60 an ounce.
  • Silver shed 4 cents, or 0.2%, to $20.25 an ounce.

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

US Mint Bullion Coin Sales in 2016

United States Mint bullion sales advanced on Thursday by 4,000 in American Eagle and Buffalo gold coins and by 150,000 ounces in American Silver Eagles

On Monday, the U.S. Mint set its latest weekly allocation of American Silver Eagles to 3,649,500 coins. Bullion distributors ordered 12.2% of them through Thursday. Although their sales have slowed in recent weeks, 2016 Silver Eagles are still tracking toward an annual record with 26,945,500 sold. The figure represents a 10% increase over those sold through same time in record-breaking year 2015.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.

US Mint Bullion Sales (# of coins)
Thursday Sales Last Week This Week June Sales July Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 2,000 7,500 8,000 62,500 15,500 421,500
$25 American Eagle 1/2 Oz Gold Coins 1,000 1,000 1,000 3,000 2,000 48,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 0 10,000 4,000 90,000
$5 American Eagle 1/10 Oz Gold Coins 5,000 5,000 5,000 70,000 10,000 515,000
$50 American Buffalo 1 Oz Gold Coins 1,000 3,000 1,500 14,500 4,500 117,000
$1 American Eagle 1 Oz Silver Coins 150,000 250,000 445,000 2,837,500 695,000 26,945,500
2016 Shawnee 5 Oz Silver Coins 0 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins 0 0 0 0 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 0 0 34,200 0 34,200


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Seth Riesling

On Monday July 11, US Mint spokesman Tom Jurkowsky said the US Mint is no longer experiencing shortages of silver blank planchets for the ASE bullion $1 coins from its outside vendors. Many of the Mint’s Authorized Purchasers have been buying the ASE $1 coins in the secondary market instead of from the Mint recently as investors sell them the coins to take profits since silver went over $20 recently. Therefore the Mint has experienced a major drop in sales of the ASE bullion $1 coins & has more than 3.6 million of the coins unsold from previous weeks &… Read more »

Seth Riesling

Mike Unser –

The new 2016-P 5-ounce silver Harpers Ferry vapor blast version coin went on sale today at noon Eastern time from the US Mint.



Awesome post.