Gold Marks 14-Month Low and Posts Fourth Weekly Loss

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Gold shed 4% this week
Gold shed 4% this week

Precious metals split Friday with gold and platinum falling and silver and palladium rising, but they all posted very sharp weekly losses. Gold ended the day at a 14-week low.

On Friday, gold for June delivery fell $16.40 or 0.9%, to settle at $1,808.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Feb. 4 when gold ended at $1,807.80 an ounce.

“Gold is being weighed down as the Fed has been committed to raise interest rates at a fast pace and in addition, the dollar has been extremely strong,” Reuters quoted David Meger, director of metals trading at High Ridge Futures. “Going forward, the inflation numbers are what the market will closely watch.”

Gold prices sank 4% this week following losses of 1.5% last week, 1.2% for the week ending April 29, and 2.1% for the week ending April 22. They are 1.1% 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 17 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, two analysts, or 12%, called for gold prices to rise next week. At the same time, 12 analysts, or 71%, were bearish on gold in the near term, and three analysts, or 18%, were neutral on prices.

Meanwhile, 932 votes were cast in online Main Street polls. Of these, 481 respondents, or 51%, looked for gold to rise next week. Another 286, or 31%, said lower, while 165 voters, or 18%, were neutral in the near term."

Elsewhere, silver for July delivery tacked on 22.8 cents, or 1.1%, to close at $21.001 an ounce. Silver prices tumbled 6.1% this week after losses of 3.1% last week, 4.8% for the week ending April 29, and 5.6% for the week ending April 22. On Thursday, they registered their lowest settlement since July 20, 2020. The precious metal is 10.1% lower on the year.

In PGM prices on Friday and for the week:

  • July platinum dipped 70 cents, or 0.08%, to end at $930.70 an ounce, for a 2.7% weekly decline.

  • Palladium for June delivery surged $57.10, or 3.1%, to end at $1,917.70 an ounce, but gave back 5.2% on the week.

The two are divided on the year so far with platinum 3.7% lower and palladium 0.3% higher.

US Mint Bullion Sales in 2022

Published United States Mint bullion sales increased this week by 5,000 ounces in American Gold Eagles. In comparison, last week the figures rose by:

  • 37,500 ounces in American Gold Eagles
  • 16,500 ounces in American Gold Buffalos
  • 425,000 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 This Week March April May 2022 Sales
$50 American Eagle 1 Oz Gold Coin 0 36,000 0 140,500 80,500 36,000 466,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 5,000 3,000 1,000 54,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 0 20,000 14,000 4,000 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 50,000 75,000 25,000 50,000 370,000
$50 American Buffalo 1 Oz Gold Coin 0 16,500 0 64,500 27,500 16,500 198,500
$1 American Eagle 1 Oz Silver Coin 0 425,000 0 1,080,500 850,000 425,000 8,856,500
$100 American Eagle 1 Oz Platinum Coin 0 0 0 14,200 0 0 40,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0 0

 

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Rich

Gold was beaten like a piñata

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SENZA

Beat it like it’s World War 3 https://www.youtube.com/watch?v=R6Kpb8K0BOM

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SENZA

Rand Paul, Thanks You even though it probably serves some self interest…Millions of Americans still have not received theri unemployment from the Plandemic.

Americans need vital aid – screw Ukraine – sleepy Joe is already using this as an excuse to flood Detroit and other dead cities with Ukrainian’s – they can have free gas stations, strip clubs and liquor stores to help sleepy Joe price gouge us – put illegal drugs into our school systems and then they can talk about how terrible America is

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Larry

Senza,

It cracks me up to think women…I mean ‘birthing people’…can’t find baby formula but we can waste $40 billion over in Ukraine. We are already $30 trillion in debt, inflation is going to be with us for years, and stagflation is right around the corner. Oh happy days!

SENZA

Right On Larry, I read somewhere that for every penny at the pump increase it equals $1 Billion per day that Sleepy Joe and the Saudi’s get to split among them – so we’re up about 250 penny’s per gallon where I’m at and I have heard more than double in California and Michigan. I don’t even consider “inflation” to be a word anymore – I see this as the Politicians and Elites purposely Price-Gouging us just to add insult to injury. And you nailed it about the baby formula – now they are attempting to create Diesel-Fear and of… Read more »

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Jeff Legan

This is yet another reason I want to completely eliminate dark money in politics (ok, I would be ok with eliminating it everywhere, but too many people are secretly benefiting, so unless we actually start shining a light on this, normal people will continue to foolishly think politicians work for us). Back to Rand Paul: How do we know Putin is not paying Paul to take this stance if we are not allowed to know who is giving money to him? Perhaps Putin is not paying certain Republican politicians (I have not heard of any Democrats that do not back… Read more »

Antonio

He’s receiving payments from Russia. The people in his state are too blind to see. He’ll be re-elected, watch and see. There are stupid people everywhere.

Larry

Sure are..just look at states re-electing scum like Pelosi, Schumer, Schiff, Waters, and such year after year.

Antonio

People don’t think, or as some call them, sheeple.

SENZA

Carvana the kiosk car dealer lays off 2500 via Zoom

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SENZA

Every Puppet Master has his/her methods – Biden is killing Americans with open-borders and Price Gouging everything from Gasoline to Food

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Rich

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SENZA

Please explain to Sir Kaiser 🙂

Jeff Legan

Hi SENZA,
Not all of them were laid off via Zoom. In general, I would not think anyone should be laid off via Zoom, but then I think “what if the employee works remotely, and I actually have not seen them in person for X number of months/years?” In that case, I would probably think being laid off via Zoom is better than a letter or a phone call. At least I could see the persons face as they were telling me.

SENZA

Technology certainly has no conscience and I agree there are pros and cons to Zoom but my concern was if it was economics and or COVID related. Then, I read one of the Manager’s comment that he believed the company was simply falling apart because everyone got Wealthy when it went public and nobody cared about the Business after that. I thought it was interesting an conversation worthy and I’n glad you did too. Technology certainly has no conscience and I agree there are pros and cons to Zoom but my concern was if it was economics and or COVID… Read more »

Last edited 13 days ago by SENZA
Larry

Kaiser,

No one is going to be flattening by a nuclear bomb from Russia. Putin may be a bit crazy as a result of a apparent brain tumor, but I’d bet some Russian General (or maybe several Generals) take him out before any nukes are launched. The big winner in this game is China. They’ll sitting back and watching as we go bankrupt funding this conflict.

Antonio

Larry, are you the only one who sees this? It’s so obvious!

SENZA

🙂 I guess it just depends what the source is and I noticed the story has changed over recent days and some even corrected their story indicating perhaps not all were laid off by Zoom

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Last edited 13 days ago by SENZA
SENZA

Tody’s First on Thread Award goes to Rich,

Today’s Award is an exclusive photo of “Buckethead”

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Rich

Sir Kaiser, remember what Jesse Livermore said, “Men who can both be right and sit tight are uncommon.”

SENZA

Interesting Fella, unfortunately today’s markets are so rigged and tainted that fundamentals and indicators are about useless but in better times the modern version of his apparent day trading style is one I favored aka The Fast Stochastic.

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SENZA

If your a trader or follow markets closely you already know it’s much, much worse than that – if not I just told you it’s much, much worse than that.

If your one of the Americans waiting 26 months for your unemployment that’s been stolen by corrupt local Governments – you know it’s much, much worse………….

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SENZA

Baseball Numismatics anyone

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SENZA

And Banana’s will be FREE for Humans

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SENZA

It’s the only Gold Stuff with any real value

SENZA

There is more available now than last time I checked still over 4,000 available

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Rich

And based on the lower closing spot gold price on Wednesday, Thursday, Friday (and Monday and Tuesday), the new price for the Gold Buff should drop $50 to $2,740 on Wednesday if they are still available to purchase (with the 5-day average gold price falling in the $1,800.00 – $1,849.99 price grid range, dropping from last week’s $1,850.00 – 1,899.99 range).

SENZA

Thanks for the data Rich, we love it –

I have a feeling some of this is due to the Crypto wipe out -those guys who impulse-buy with Crypto money to burn got burnt and buying over-priced US Mint Gold is off the table

And of course $50 off an item that’s about $1,000.00 over-priced doesn’t make me want one.

Finally, I think the People have lost faith in the US Mint and the US Government – I expect the tide to keep turning

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Last edited 13 days ago by SENZA
SENZA

I think the elites declared Civil War on poor people like me and your correct we can’t even work together to defeat or even try to defeat a common enemy

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Larry

Kaiser, I think you’re getting a bit senile in your old age, or at least looking at things in a simplistic way.I liked the Trump administration because I liked most of the policies they put forth. There were many things about Trump that I wished someone could correct, but never did.He certainly couldn’t keep his mouth shut about topics he had no expertise in, couldn’t resist a camera lens anywhere, and couldn’t resist getting into fruitless arguments with worthless news ‘reporters.’ Jim Acosta comes to mind.I won’t even mention those idiotic tweets or ‘Space Force.” Personally, I could give a… Read more »

SENZA

He could have been talking to any of us LOL

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SENZA

It’s all good

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Rich

SENZA, Yesterday after the first 24 hours on sale, the sales of the 2022 Proof Gold Buff seemed to run out of steam with around 4,700 still available for purchase. Today at the 48 hour point since release, the data-available = 4,660.

SENZA

Thank You Rich, that’s exactly what I’m talking about – I think I posted a screen-shot of approximately 4,300 the other day and as you pointed out there are now more available.

YOUR DATA WILL LIVE FOREVER

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Kia99

I was surprised to see the jump in availability Friday morning too. I would speculate that some of the initial rush of buyers were flippers that anticipated a rapid sell-out but when that didn’t happen, they canceled their orders. So when those cancellations were added back to the number available there were hundreds more than there were at midnight the first day.

SENZA

Exactly Kia99,

I’m seeing 4,571 at the moment – I think some flippers went belly up

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Larry

Another white kid shoots up a black store, killing ten…get ready for more rioting and burning people. I’m blaming the Ultra MAGA, you know…He Who Must Not Be Named.

SENZA

He is already labeled “Pure Evil” “Extremist” “Loaner” before any investigation.

Can you imagine what any 20 year old thinks about America and the Turdz running it!

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Jeff Legan

Good one, SENZA, We all know the MAGA crowd always waits until investigations are complete before they pass judgement. The investigations they allow to go forward, that is. Honestly though, he killed ten people. “Pure evil” seems to already fit. “Extremist” probably does. I am sure we will find out soon how true that is. Social Media is wonderful for that. The “loaner” tag, though (by the way, in honor of morgan and your previous call-out of morgan’s grammatical error while spelling “lesbian”, that would be “loner”, assuming you did not mean he was some kind of Banker) is rather… Read more »

Rich

Jeff, I think SENZA meant “loaner” as in Lone Wolf.

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SENZA

The fact that I made it to the keyboard if fascinating to me – correct spelling and grammar is a stretch – your expectations exceed my capabilities.

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Jeff Legan

Oh, I do not really care about your error, I just thought since you called out morgan’s it was only fair to mention it. I thought you were being pretty unfair to morgan that day, since we all make spelling mistakes in comments occasionally. I often leave out the apostrophe mark in “cant”, “wont”, “dont”, and others since really why do we need it? Does anybody not know what I am referring to when I leave the apostrophe out? Sure, “cant” is an actual word with a few different meanings, but context can tell you whether I meant “cannot” or… Read more »

SENZA

Apples and Oranges – point taken – Morgan a whole different animal and issues reaching far beyond grammar or spelling – perhaps Trump loaned him out and sacrificed him for his cause – the possibilities are endless. Like MSNBC and CNN both proclaimed “We decide who is President” and it seems who is guilty or innocent prior to any trial – I don’t follow that program as anyone here knowzzzz. I can relate to your Political hopes – I have never lowered my standards to vote for any of the turdz who have run for office. However, the question came… Read more »

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Jeff Legan

Hi SENZA, I would rather choose none of the above, but if it was those three choices, I would easily pick Biden. If it was only Trump or a bullet, I will take the bullet. If you want our politicians to start solving problems instead of kicking them endlessly down the road, then we should never have $1.86 per gallon gas again. It is beyond time to move out of the Oil Age. We should have started at least 20 years ago. As far as closed borders, raise the wages for all the jobs only immigrants will take now, and… Read more »

SENZA

Hey Jeff, Everyone sees things thru their own window – my window shows livable wage – skilled jobs being given to illegals who will do them for less than livable wages – right now many of them are building homes how would you like to find out your home was built by an uneducated unqualified laborer…… Cherry on the cake – they built the Condos that recently collapsed in Florida and the Towers that collapsed 9-11. It sounds like you have a lot of built up thoughts and you hold onto events of the past – feel free to bring… Read more »

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Last edited 12 days ago by SENZA
SENZA

Bear in mind, SIR KAISER, ILLEGAL MEANS ILLEGAL THEY DO NOT BELONG HERE AND I AM A CHAMPION OF REMOVING EVERY LAST ONE OF THEM AND BIDEN CAN GO RIGHT ALONG WITH THEM.

That’s a very common misconception, they are taking livable wage jobs and performing them unskillfully and at minimum or low wages – there is nothing acceptable about this.

We have millions of Americans in debt because they borrowed money to learn these skilled jobs and now they can’t get one of those jobs.

Jeff Legan

Dont you see skilled jobs are being given to not illegals, but to people the tech companies legally bring over with those fancy visa’s for high paid positions, I forget what number they are called by. I think there was a limit of 60000 for a long time, but I think they have been bribing (oh, excuse me I mean “campaign contributions”) our politicians to increase that number over the years. Our government has also had for quite a while now a citizenship program for wealthy foreigners to jump to the head of the citizenship line if they “invest” over… Read more »

Jeff Legan

Hi Kaiser Wilhelm,
If they are done right, both sides will learn something.

Antonio

I thought a hypocrite was a person who tells you to buy gold and doesn’t him/herself.

SENZA

Antonio,

You have spoken the unspoken like a true Champion – I too have noticed some of our biggest “Purchase” cheer leaders mention after-the-fact – that in fact, they have purchased nothing.

Power to those who have skin in the game – the rest is mediocre

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Larry

Senza

I bought gold last year and I bought a 1/10th oz proof AGE this year, even though I overpaid for it. I’m just not interested in paying the government ludicrous fees to make a 1 ounce gold coin. People should decide for themselves if it’s worth it or not.

SENZA

Yet you say it’s OK to have illegal terrorists here taking our jobs – speaking of checking ourselves there comes a point when it appears someone is perhaps jealous of Trump’s arrogance and bitter success – before telling someone to follow your beliefs look in the mirror and tell yourself and see how it resonates

SENZA

Your the one who went Nuclear LOL – everyone has to blow off some steam.

I’m more worried about poor Jeff stuck on a comment that did not even concern him and is very ancient history.

Sharing one’s beliefs is one thing – trying to force one’s belief’s on other’s is simply unacceptable – that’s why Morgan failed and if Jeff pursues that subject further he will fail too_ let’s pull together as a Community and help him get past this

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Last edited 12 days ago by SENZA
Jeff Legan

Hi SENZA, Dont worry, I am not stuck on it. That was a one and done for me. Like I said, I thought you were being a bit hard on morgan for a spelling error since we all make them, and based on your response to me, you also think (now, anyway) that pointing out those kind of errors is not worth our time. Note that I did not really weigh in on whatever you were actually arguing about (I didnt really feel qualified to jump in on that subject), I just pointed out at that time it looked like… Read more »

SENZA

I don’t have the energy or resources to go back to old posts –

I feel bad we have totally neglected Rich – I hope he can forgive all of us.

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Rich

SENZA, Right On Bro

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Larry

I think Kaiser has gone fu*king nuts! Do you salute Biden by extending your right arm out and yelling “Sieg Hiel Biden?”

Jeff Legan

Hi Larry,
Dont you think this comment is a little far out there?
I dont think anyone in the world feels that worshipful for Biden, but I could probably find video footage of someone somewhere doing that for Trump. I would just have to eavesdrop on a White Supremist meeting. I am only half joking.

Larry

Jeff,

I have to admit that I tried to edit it, but too much time had transpired and it couldn’t be done. Sometimes people say or type stupid comments that ‘get me fired up.’ I shouldn’t let it. Kaiser and I don’t agree on most political matters and that’s America in a nutshell. By the way, has the government got an estimate for the number of ‘white supremist’s’ in our country. I only ask because to this day I’ve never met one.

Jeff Legan

Thanks Larry. I actually did notice that even on your unedited post you made an effort to tone it down a little bit compared to some of your comments I read in the past (assuming you are Larry T), so I can see you are making an effort. I have met a few real life white supremists’ at some of the more extreme metal shows I attended in my youth. The Nazi tattoo’s kind of give them away. They were there to see a band that was on the same bill as the band I went to see.

Larry

Kaiser, I wish you’d please stop referencing the ‘attack on the capitol’ as if it was the worst attack on our democracy since the Civil War. If that was indeed an attack, then I’d advise China to move on Taiwan today, because the attackers ‘soldiers’ forgot to bring any weapons. That’s one feckless, stupid, and incompetent army of insurrectionists! And let’s not forget that we have a ‘hard working’ January 6th committee working to get to the bottom of this.With folks like Kinzinger and Cheney on this, I feel safe and so should you. For the IQ challenged, I’ve woven… Read more »

Jeff Legan

Hi Larry, I could swear I have seen some of the people charged in the attack on the capital have been charged with weapons violations too. And of course, do you yourself actually believe none of Trumps supporters were carrying weapons there? I am talking concealed firearms now, because anyone who has seen video from that day can see for their self that there were unconcealed weapons all over the place and being put to use against the Capital Police. I imagine if everyone who went to the “rally” that day was searched like I was every time I went… Read more »

Antonio

The right to bear arms shall not be infringed upon.

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Larry

Kaiser…turn off the constant MSNBC and CNN talking head BS. It’s all about the policies, stupid! To be clear, I’m not calling you ‘stupid’, but you do suffer a severe case of ‘Trump Derangement Syndrome!’

Jeff Legan

Did you drop the “T” from your name Larry? This comment sounds a lot like comments Larry T has made. Every time Larry T would say the MSNBC/CNN thing to Kaiser Wilhelm I always wondered if Kaiser Wilhelm even watches either of those channels. I dont, for the same reason I dont watch FOX and OANN. They are more interested in pushing an agenda than telling me what is really going on. And they lie, and they leave things out. As far as Trump goes, I believe he has done enough damage to America that “Trump Derangement Syndrome” applies more… Read more »

SENZA

I’m still not sure that every character on this Blog is not just an OCD convulsive entity posting questions and then answering his/her own questions – as I stated when I first discovered this little Eureka – I did identify several different entities all with the same IP address.

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Rich

Time for…

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SENZA

Lot of BS stuff too – here one for you and one for Jeff, easy on the Meds

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Last edited 12 days ago by SENZA
SENZA

This is still America, innocent until proven guilty – what if you were standing next to him and they arrested you by accident and you were tried and convicted by the media or angry people thinking like you are right now. How much of your citizenship Oath did you actually read!

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Jeff Legan

In theory, that has always been the case. In practice, was it ever? There would never have been lynching’s 100 years ago if America actually believed that to be true. You really dont have the evidence to say it is any worse now than it was in the past. Aside from that, you cannot be saying this guy is innocent. He was caught at the scene with gun in hand. There is no doubt he is guilty. The only doubt involves the “why”, and I assume Social Media will tell us more than we want to know about that.

SENZA

You pointed a gun at me Sir Kaiser,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

Breaking Newz The Fing Doughnut Eaters new about this kid a year in advance and still allowed him to buy guns – let’s identify the real enemies here – the same enemy it’s always been GOVERNMENT

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SENZA

I wonder if he’s feeling lucky

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Larry

I agree we need a much quicker resolution to these ‘mentally challenged’ individuals than our ‘judicial’ system provides. Too many lawyers getting rich off these cases and what is the point in housing this guy for the rest of his life. I still can’t understand what drives these kids to commit such heinous acts. I’ve been wondering that since Columbine.

Jeff Legan

Hi Larry, Lack of Empathy is my theory as to why. The ability to understand someone’s point of view without actually being that someone. A pet peeve of mine is people who are against something until it effects them personally. Those people definitely do not understand the meaning of empathy. Like a person 100% against the Death Penalty–until one of their loved ones is brutally murdered (oh, now I understand why some people demand the death penalty. I just thought they were idiots before!). Or a specific example I can recall is Senator Rob Portman from Ohio. He was against… Read more »

Antonio

Get off my lawn!

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SENZA

I purchased several inexpensive coins the other day on Feebay and one took a little bit longer but finally showed up last night and when I opened it today – there was a note inside that said: “Thanks for purchasing a Mike Mezak Signature Coin”

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Larry

Senza,

You Dog! Here I thought you despised the man and yet you are the one that’s been buying all his coins! Oh, what a world, what a world!

By the way, how much did the special signature run you?

SENZA

It was the American Innovation Coin released in the wrong order and grabbed up by all the Mike Mezaks on release day. US Mint price was $6.95 or $9.95 and the dealers got them all and were asking $50 and up – which I refused to pay and waited – so I just got one at $19.95 and Free shipping – but I guess they still got me 🙁

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Larry

Senza,

I saw Mike ‘I don’t just sell coins,I also collect coins’ Muzack humbly hawking his new ‘signature series’ MS70 2021 W ASE for a mere $199.95 plus s&h. I was going to buy a few but suddenly realized they didn’t come with the Red Oak Box. I’m still trying to figure out how to display these beautiful specimens (w/out the Red Oak Box.)

SENZA

What’s the point of collecting coins without the “Red Oak” we can find coins anywhere but that “Red Oak” is really hard to come by – it’s all about the “Red Oak” for me. 🙂

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SENZA

Breaking Newz

938 Now Available

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Larry

I have to admit I’m surprised and amazed that so many of these have been bought for $2790. I guess a lot of folks don’t mind handing the government an additional $1000 to produce the coin. They, of course, have better use for it than we do.

SENZA

I think it’s all fraud and lies – the US Mint and the Dealers and Graders just playing games with numbers – almost every release this year has proven that – the fake sell outs – the creepy new Director – it all stinks

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SENZA

It’s tempting at those prices but I just don’t see any flipping potential.

There are listings on ebay below the US Mint cost and now the question arises;

Who sent those coins back to the US Mint and was there any tampering involved? I would not feel good about having them unless I cracked open the rolls or bags and verified the contents at this point.

The US Mint is making monumental mistakes that defy collecting sensibility or should I say Senzability

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Larry

I see the Buffalo coins are still available. How many folks here are going to buy the 2022 W uncirculated ASE? At $67 they almost seem to be reasonably priced. With a mintage of 160,000 coins, I can’t imagine Mike Mezack will want to place his cherished signature on his Signature Series NGC slabs. Or could I be mistaken?