Palladium declined on Friday while gold, silver and platinum advanced. The metals posted weekly gains — sharp ones for platinum and palladium and modest ones for gold and silver. Gold’s weekly increase was its first in four weeks.

Gold for August delivery rose $1.10, or 0.06%, to settle at $1,777.80 an ounce on the Comex division of the New York Mercantile Exchange.

Gold futures edged up 0.5% this week following three straight weekly losses that had trimmed prices by a combined $136.30, or 7.2%. They are 6.2% lower on the year to date.

In looking ahead to next week, Kitco News offers the following forecasts via their Wall Street & Main Street surveys:

"Kitco’s gold price survey results showed that out of 13 participating analysts on the Wall Street side, 53.8% were bullish on prices next week. The other half of the votes were evenly split between the bearish and neutral camps, each gathering 23.1% of the votes.

A similar trend was seen on Main Street. Out of the 839 participating retail investors, 54.1% were bullish on prices next week, 24.2% were bearish, and 21.7% were neutral."

Elsewhere, silver for July delivery inched up 3.7 cents, or 0.1%, to close at $26.087 an ounce. Silver futures also traded 0.5% higher this week, after sinking 7.7% last week. They are down 1.2% on the year.

In other precious metals futures on Friday and for the week:

  • July platinum rose $9.70, or 0.9%, to end at $1,103.60 an ounce, for a 6% weekly increase.

  • Palladium for September delivery fell $6.70, or 0.3%, to $2,637.20 an ounce, but registered a 6.8% gain on the week.

Both are higher on the year so far with advances of 2.3% for platinum and 7.5% for palladium.

US Mint Bullion Sales in 2021

For a second straight week, the United States Mint published no bullion sales. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Friday / This Week Last Week March Sales April Sales May June 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 55,500 38,500 20,500 4,000 430,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 0 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 0 0 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 55,000 0 0 0 150,000
$50 American Buffalo 1 Oz Gold Coin 0 0 33,500 11,000 44,000 7,000 173,000
$1 American Eagle 1 Oz Silver Coin 0 0 4,087,000 1,053,000 0 0 13,106,500
$100 American Eagle 1 Oz Platinum Coin 0 0 35,000 0 40,000 0 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 N/A 50,000 2,900 0 52,900
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Kaiser Wilhelm

It there is “Fine Gold”, wouldn’t there also be “Not So Very Fine At All Gold”? Just thinking.

Seth Riesling

Kaiser –

I am going to start a coin company called “Pretty Good Condition Coin Company”! The coins I sell will be in a sealed plastic slab and labeled with the grade as “PGC”. I hear that when many coin shop owners get a call from the uneducated public about a coin they have & the coin dealer asks them what condition it is in, they almost always say, “Pretty good condition”. Lol.

NumisdudeTX

Kaiser Wilhelm

Seth, that is a spectacular idea; you may become America’s newest millionaire or possibly even the Jeff Bozos of the numismatic universe. The bars and ingots you offer will be labeled “Fairly Fine Fool’s Gold and the coins will of course be .009999 Silver. I’m already chartreuse with envy at what promises to be a sea change in the way business is conducted in the coin collectors’ world. Step aside, Mike “Money Machine” Mezack, APMEX, Pinehurst Coins etc.; the new King of Koins has arrived on the scene with both (not all that) precious metals blazing!

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Last edited 1 month ago by Kaiser Wilhelm
Kaiser Wilhelm

Furthermore, Seth, your innovative products and brilliant salesmanship show promise for introducing new legions of the public to the joys of collecting.

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Last edited 1 month ago by Kaiser Wilhelm
Kaiser Wilhelm

For all we know, this guy – the “coin collection beggar” from above – may someday end up being a real big deal exec at Blackstone/NGC.

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Last edited 1 month ago by Kaiser Wilhelm