Gold declined on Friday while silver, platinum and palladium advanced. Gold’s loss, although modest, was enough to bring it down on the week — also slightly. The other metals logged weekly gains.
Gold for December delivery shed $1.80, or 0.1%, to settle at $1,757.40 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures dipped 0.06% this week following increases of 0.4% last week and 30 cents in the week ending Sept. 24. They are 7.3% 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:
"This week 14 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, eight, or 57%, called for gold prices to rise. At the same time, five analysts, or 36%, called for lower gold prices next week. One analyst, or 7%, was neutral on gold in the near term.
Meanwhile, A total of 841 votes were cast in online Main Street polls. Of these, 442 respondents, or 53%, looked for gold to rise next week. Another 265, or 32%, said lower, while 134 voters, or 16%, were neutral."
Elsewhere, silver for December delivery rose 4.7 cents, or 0.2%, to close at $22.705 an ounce. Silver futures traded 0.8% higher this week after increases of 0.5% last week and 0.4% for the week ended Sept. 24. They are 14% lower on the year.
In PGM futures on Friday and for the week:
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January platinum added $42.90, or 4.4%, to $1,028.20 an ounce, for a 5.6% weekly gain.
- Palladium for December delivery added $118, or 6%, to $2,073 an ounce, for a 8.9% weekly gain.
Both are lower on the year so far with drops of 4.7% for platinum and 15.5% for palladium.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales were unchanged last week. Gains this week included:
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84,500 ounces in American Gold Eagles,
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12,500 ounces in American Buffalo gold coins, and
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500,000 ounces in American Silver Eagles.
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 | August | September | This Week / Oct. | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 3,000 | 0 | 112,000 | 67,500 | 81,500 | 895,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 21,000 | 4,000 | 0 | 81,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 34,000 | 8,000 | 4,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 35,000 | 20,000 | 385,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 27,500 | 24,000 | 12,500 | 272,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 3,930,000 | 2,735,000 | 500,000 | 26,175,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 52,900 |
