Precious metals posted losses on Friday with the declines heavy for silver, platinum and palladium and lighter for gold, which retreated from an almost one-month high but still extended its streak of weekly gains to four.
Gold for August delivery declined $14, or 0.8%, to settle at $1,815 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures edged 0.2% higher this week, lifting their combined gains through four weeks to 2.6%. They have fallen 4.2% on the year to date. On Thursday, they marked their best settlement since June 16.
In looking ahead to next week, Kitco News offers the following forecasts via their Wall Street & Main Street surveys:
"This week 16 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, nine or 56%, called for gold prices to rise; simultaneously, three voters, or 19%, expect to see lower prices next week and four analysts, or 25% expected to see sideways trading in the near term.
Meanwhile, 836 votes were cast in online Main Street polls. Of these, 556 respondents, or 67%, looked for gold to rise next week. Another 144, or 17%, said lower, while 136 voters, or 16%, were neutral on the price."
Silver for September delivery dropped 59.9 cents, or 2.3%, to close at $25.795 an ounce. Silver futures traded 1.7% lower this week after falling 1% last week. They are down 2.3% on the year.
In other precious metals futures on Friday and for the week:
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October platinum fell $29.20, or 2.6%, to end at $1,108.50 an ounce, but logged a 1.2% weekly increase.
- Palladium for September delivery sank $92, or 3.4%, to finish at $2,637.30 an ounce, for a 6.2% weekly loss.
Both are higher on the year so far with gains of 2.7% for platinum and 7.5% for palladium.
US Mint Bullion Sales in 2021
United States Mint bullion products compared to a week ago performed weaker for both gold coins and silver coins. In week-over-week comparisons:
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Sales of American Gold Eagles moved up 18,000 ounces after they increased by 26,000 ounces last week.
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Sales of American Buffalo gold coins rose 3,500 ounces after gaining 10,500 ounces last week.
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Sales of American Silver Eagles climbed 690,000 ounces after rising 849,000 ounces last week.
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 | Last Week | This Week | May | June | July | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 26,000 | 13,000 | 20,500 | 158,000 | 39,000 | 623,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 10,000 | 0 | 15,000 | 10,000 | 56,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 0 | 30,000 | 0 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 90,000 | 0 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 10,500 | 3,500 | 44,000 | 27,500 | 14,000 | 207,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 849,000 | 690,000 | 0 | 2,800,000 | 1,539,000 | 17,445,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 40,000 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 2,900 | 0 | 0 | 52,900 |
CoinNews will take a one-week break from publishing precious metals pricing articles.
