Platinum declined on Friday, modestly trimming its weekly gain, while gold, silver and palladium padded their weekly wins. Gold extended its streak of gains to seven straight and ended the day at a just over five-month high.
Gold for December delivery rose $4.60, or 0.3%, to settle at $1,868.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 11 when gold ended at $1,879.60 an ounce.
Gold futures traded 2.9% higher this week after advancing 1.8% last week. They are 1.4% 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 18 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, 15 analysts, or 83%, called for gold prices to rise next week. At the same time, two analysts, or 11%, were bearish on gold in the near term, and one analyst or 6% was neutral on prices.
Meanwhile, A total of 1,018 votes were cast in online Main Street polls. Of these, 722 respondents, or 71%, looked for gold to rise next week. Another 165, or 16%, said lower, while 131 voters, or 13%, were neutral."
Elsewhere, silver for December delivery rose 4.5 cents, or 0.2%, to settle at $25.346 an ounce. The close was the best since Aug. 4 when silver finished at $25.461 an ounce.
Silver futures traded 4.9% higher this week after rising 0.9% last week. They are 4% lower on the year.
In PGM futures on Friday and for the week:
January platinum declined $5.30, or 0.5%, to end at $1,089.20 an ounce, but scored a 5.2% weekly increase.
- Palladium for December delivery surged $55.10, or 2.7%, to finish at $2,117.70 an ounce, for a 4.4% weekly gain.
Platinum’s weekly gain lifted the precious metal higher for the year — up 0.9%. Palladium, however, is 13.7% lower on the year to date.
US Mint Bullion Sales in 2021
Compared to last week, United States Mint bullion sales were stronger for gold coins but weaker for silver and platinum coins. In week-over-week comparisons:
Sales of American Gold Eagles rose 29,500 ounces after increasing 20,000 ounces last week.
Sales of American Buffalo gold coins advanced 15,500 ounces unchanged after registering flat last week.
Sales of American Silver Eagles were flat after gaining 474,5000 ounces last week.
Sales of American Platinum Eagles rose 800 ounces after climbing 7,900 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||September||October||November||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||7,000||17,500||26,000||67,500||135,500||42,500||992,500|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||2,000||2,000||4,000||7,000||4,000||92,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||4,000||8,000||22,000||6,000||156,000|
|$5 American Eagle 1/10 Oz Gold Coin||10,000||10,000||15,000||35,000||85,000||25,000||475,000|
|$50 American Buffalo 1 Oz Gold Coin||2,000||0||15,500||24,000||41,000||15,500||316,000|
|$1 American Eagle 1 Oz Silver Coin||0||474,500||0||2,735,000||1,076,000||474,500||27,226,500|
|$100 American Eagle 1 Oz Platinum Coin||800||7,900||0||0||0||8,700||83,700|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||0||0||52,900|