When the Asian markets opened on the 22nd August 2014 the gold price was down at around 1276 USD/oz. Yesterday saw the fifth consecutive day of a fall in the gold price. While developments over the last few days have been largely unremarkable, they have not been without interest, as Federal Reserve Chair, Janet Yellen, made her opening speech at the Jackson Hole conference, followed by European Central Bank President Mario Draghi. Following Yellen’s declaration of a soft approach and vague timing of rate hikes, the five-day gold price fall seems to have halted. The afternoon saw the gold price claw its way back to 1280 USD/oz.
For the recent releases to the coins market, the 60th Anniversary of the China Construction Bank ¼ oz gold coin saw a relatively large rise with initial quoted prices rising through the 3700 yuan mark all across the board. The 1 oz silver coin yesterday continued its upward trend, starting off the morning at 410 – 440 yuan, but by the afternoon, as demand outstripped supply, prices rose to 450 – 470 yuan. The 1 oz gold coin remains relatively stable at 12000 – 12200 yuan.
Prices for the Bronze Age Implements 3rd Series have stabilised, despite more deals being reached. The gold and silver sets are steady, valued at 2800 – 2880 yuan. There is nothing special to report on the 1 oz silver coin, which is fetching in the region of 370 – 420 yuan. You can expect to see values of 4000 – 4180 yuan for the 5 oz silver coin, which remains the centre of interest for the series. Deals for the 1 kg silver coin have been made between 11800 – 12300 yuan, while the 5 oz gold coin holds its value at 62000 – 63000 yuan.
Following on from the last published update, staying with the theme of 1 oz silver bullion Panda coins, initial values in the coin markets of Beijing and Shanghai for those issued in the early 1990s are as follows: the 1990 1 oz silver Panda is valued at 750 yuan; 1991 at 1250 yuan; 1992 at 1250 yuan; 1993 at 900 yuan; and 1994 at 950 yuan.
At auction online, the 2014 1 oz silver Panda is currently seeing live bids of between 165 – 190 yuan per piece, although these are likely to rise as the auctions come to a close. Alternatively, see the coin store for similarly competitive prices for the 2014 1 oz silver Panda. This coin is available to buy in bulk for further reductions.