The U.S. Mint has sold a record number of silver coins this year as demand for the physical metal helped futures in New York recover more than 20% since falling to a 5-year low early this month.
Purchases of American Eagle silver coins reached 43.051 million ounces in 2014, data on the mint’s website shows. That tops last year’s 42.7 million ounces, the previous all-time high, according to an e-mailed statement yesterday. There are still enough supplies to keep selling 2014-dated coins through the week starting Dec. 15, the mint estimates, Bloomberg News reported.
A surge in demand prompted the mint to suspend sales in November for more than a week because of a lack of inventory. When the coins were again made available for purchase, it was on allocated basis. Buying has increased with prices heading for a second straight annual loss, the longest slump since 1992.
At INR 39,115 ($631.94) per kilogram, Indian silver moved up 4.8% on Wednesday, December 10, the day’s biggest change. The price of Chinese silver rose 4.6% to CNY 3,640 ($588.31) per kilogram after a two-day drop. One of the day’s biggest changes moved US silver ahead by 4.5%, landing at $17.11 per ounce. Japanese silver rose 3.2% to JPY 649.00 ($5.44) per 10 grams.
Chinese gold bullion prices inched up 2.4% to CNY 245.10 ($39.61) per gram. Indian gold bullion prices rose 2.3% to INR 27,234 ($439.99) per 10 grams. US gold bullion gained 2.3% to finish at $1,232 per ounce. The price of Japanese gold bullion increased 2.0% to JPY 4,727 ($39.62) per gram.
Chinese platinum bar finished the day up 1.2% to CNY 263.00 ($42.51) per gram. Japanese platinum bar prices rose 0.8% to JPY 4,771 ($39.98) per gram. The price of US platinum bar held steady at $1,228 per ounce.
Japanese palladium bar ended the day at JPY 3,107 ($26.04) per gram, after the 1.6% drop on Wednesday. Chinese palladium bar gained 1.1% to finish at CNY 179.00 ($28.93) per gram. After a 1.1% increase, US palladium bar finished the day at $807.00 per ounce.