Gold, Silver and Other Metals Tumble on Week

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Gold fell 3.6% this week
Gold fell 3.6% this week

Silver, platinum and palladium declined on Friday, adding to their weekly losses. Silver finished the day at a more than six-week low. Gold, meanwhile, climbed for a second session in a row but still registered a sizable weekly loss.

Gold for December delivery rose $1.20, or 0.07%, to settle at $1,785.50 an ounce on the Comex division of the New York Mercantile Exchange.

Gold futures traded 3.6% lower this week after dipping 0.9% last week. On Tuesday, they marked their lowest settlement since Nov. 3. The yellow metal is 5.8% 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 15 Wall Street analysts participated in Kitco News’ gold survey. For only the second time on record, the survey showed a three-way tie. Each scenario garnered five votes.

Meanwhile, a total of 1,527 votes were cast in an online Main Street poll. Of these,  respondents, 1,024 or 67%, looked for gold to rise next week. Another 304, or 20%, said lower, while 199 voters, or 13%, were neutral."

Elsewhere, silver for December delivery declined 38.9 cents, or nearly 1.7%, to close at $23.107 an ounce. The settlement was the lowest since Oct. 12 when silver ended at $22.514 an ounce.

Silver futures traded 6.8% lower this week after sliding 2.2% last week. They are down 12.5% on the year.

In PGM futures on Friday and for the week:

  • January platinum lost $21, or 2.2%, to end at $954.30 an ounce, for a 7.9% weekly decline.

  • Palladium for December delivery dropped $58.80, or 3.2%, to finish at $1,789.10 an ounce, for a loss on the week of 13.7%.

Both metals are well lower on the year so far with losses of 11.6% for platinum and 27.1% for palladium.

US Mint Bullion Sales in 2021

U.S. Mint bullion sales slowed or stalled from a week earlier. In week-over-week comparisons:

  • Sales of American Gold Eagles rose 24,500 ounces after increasing 31,500 ounces last week.

  • Sales of American Buffalo gold coins advanced 8,500 ounces after rising 11,000 ounces last week.

  • Sales of American Silver Eagles were flat after gaining 524,500 ounces last week.

  • Sales of American Palladium Eagles were flat for a second week in a row.

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 September October November 2021 Sales
$50 American Eagle 1 Oz Gold Coin 24,000 29,500 67,500 135,500 97,000 1,046,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 4,000 7,000 6,000 94,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 0 8,000 22,000 8,000 158,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 35,000 85,000 35,000 485,000
$50 American Buffalo 1 Oz Gold Coin 8,500 11,000 24,000 41,000 35,000 335,500
$1 American Eagle 1 Oz Silver Coin 0 524,500 2,735,000 1,076,000 999,000 27,750,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 75,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 8,700 8,700
Tuskegee Airmen 5 oz Silver Coin 0 0 0 0 0 52,900

 

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SENZA

Your number one again and that’s better than number 2 if you get my meaning.

Biden and Obummer ruined Gold and Silver back in 2011 but by the miracle of the new strain of Covid that has been proven gentically modified and made in a lab of unknown origin (Fauci’s China Lab) the demise of civilization will perhaps revive the gold and silver for those whom have already stocked their pantries dotted their “I’s” and crossed their “T’s”. or maybe not…………………………

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Seth Riesling

Stock tip: stock up on t.p.!! Lol.

NumisdudeTX

SENZA

Every time traveler I know said the only good info they brought back form the future was your message “stock up on t.p.” LMAO …..I found once you got to wet wipes though you don’t go back unless there is a Plandemic and they run out – Kimberly clark sucks so we dumped scotts and huggies work great my prep pantry has cases of them

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SENZA

Actually all time travelers shit their pants but none will ever admit it

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Rich

LOL, Sir Kaiser – “I’ll have the cream of sum yung gai.”

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Rich

You win, …can’t beat that.

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SENZA

Right on you always nail it – I just have this burning – feeling ( in my mind of course) that it’s no coincidence it happened on Trump’s watch.

On a more refreshing note I googled “World’s Best Christmas Gift” and the following image was the number 1 result returned to me.

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SENZA

Got it covered Bro it’s the only room in my house

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SENZA

I have all of that you just can’t see it because I’m sitting on it…….oh and we now know why Bill invented that little box he is playing with.

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SENZA

And

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