Gold futures increased their winning streaks on Friday to 11 straight sessions and 4 straight weeks. The yellow metal also closed at a fresh 16-week high.
Gold for February delivery on Friday inched up 70 cents, or less than 0.1%, to settle at $1,322.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 15 when prices ended $1,325.20 an ounce.
Gold futures traded 1% higher this week, advancing a combined 5.9% through their four consecutive weekly gains. In looking ahead to next year, Kitco News offers the following forecasts via their gold survey:
"Twenty market professionals took part in the Wall Street survey. Eleven, or 55%, called for gold to rise. There were five votes, or 25%, saying gold would fall, with the remaining four votes, or 20%, neutral or calling for a sideways market.
Meanwhile, 775 votes were cast in an online Main Street poll. A total of 477 voters, or 62%, looked for gold to climb in the next week. Another 217, or 28%, said lower, while 81, or 10%, were neutral."
Ending higher for an eighth session in a row, silver for March delivery added 1.6 cents, or about 0.1%, to settle at $17.285 an ounce. The close was the highest since Nov. 17 when prices settled at $17.373 an ounce. Silver futures moved ahead 0.8% this week after two prior weekly increases of 2.4% and 1.5%.
In PGM futures on Friday and for the week:
April platinum gained $5, or 0.5%, to $975.20 an ounce, for a 3.9% weekly advance.
- Palladium for March delivery declined $12.55, or 1.2%, to $1,082.20 an ounce, but rose 2% on the week. On Thursday, palladium closed at an all-time high.
London Precious Metals Prices
London precious metals prices were mixed on Friday and higher on the week. In comparing final prices from Thursday to Friday:
- Gold rose $2.65, or 0.2%, to $1,317.15 an ounce.
- Silver added 2.5 cents, or 0.2%, to $17.155 an ounce.
- Platinum moved up $7, or 0.7%, to $966 an ounce.
- Palladium fell $5, or 0.5%, to $1,095 an ounce.
Their weekly gains reached 1.6% for gold, 1.7% for silver, 4.2% for platinum and 3.7% for palladium.
US Mint Bullion Sales in 2018
U.S. bullion sales were unchanged this week, according to the agency’s online data. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Friday / This Week||Last Week||December||2017 Sales||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||20,000||0|
|$25 American Eagle 1 Oz Palladium Coin*||0||0||0||15,000||0|
|$50 American Eagle 1 Oz Gold Coin||0||2,000||38,000||228,500||0|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||3,000||37,000||0|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||4,000||64,000||0|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||25,000||395,000||0|
|$50 American Buffalo 1 Oz Gold Coin||0||0||14,000||99,500||0|
|$1 American Eagle 1 Oz Silver Coin||0||0||742,000||18,065,500||0|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||0||35,000||0|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||0||20,000||0|
|2017 Ozark Riverways 5 Oz Silver Coin||0||0||0||20,000||0|
|2017 Ellis Island 5 Oz Silver Coin*||0||0||0||40,000||0|
|2017 George Rogers Clark 5 Oz Silver Coin||0||0||0||32,400||0|