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|