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|