Gold, Silver and Other Metals Register Second Week of Gains

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small gold bar, big silver bar May 27,2022
Weekly gains in precious metals ranged from 0.2% for platinum to 5.4% for palladium

Precious metals advanced on Friday, padding weekly increases which extended to two in a row.

Gold for June delivery rose $3.70, or 0.2%, to settle at $1,851.30 an ounce on the Comex division of the New York Mercantile Exchange.

Gold prices gained 0.5% this week after rising 1.9% last week. They are 1.2% higher 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, 11 analysts, or 65%, called for gold prices to rise next week. At the same time, two analysts, or 12%, were bearish on gold in the near term, and four analysts, or 23%, were neutral on prices.

Meanwhile,570 votes were cast in online Main Street polls. Of these, 317 respondents, or 56%, looked for gold to rise next week. Another 163, or 29%, said lower, while 90 voters, or 16%, were neutral in the near term."

Elsewhere, silver for July delivery settled up 13.1 cents, or 0.6%, to $22.096 an ounce. Silver prices advanced 2% this week after surging 3.2% this week. They are 5.4% lower on the year.

In PGM prices on Friday and for the week:

  • July platinum added $5.60, or 0.6%, to end at $943 an ounce, for a 0.2% weekly increase.

  • Palladium for June delivery jumped $51.20, or 2.6%, to end at $2,044.70 an ounce, for a 5.4% weekly gain.

The two are split on the year so far with platinum 2.4% lower and palladium 6.9% higher.

US Mint Bullion Sales in 2022

United States Mint bullion sales slowed this week from last week. In week-over-week comparisons:

  • American Gold Eagles rose 46,000 ounces after climbing 58,500 ounces previously
  • American Gold Buffalos advanced 15,500 puces after rising 20,000 ounces previously
  • American Silver Eagles were flat after gaining 425,000 ounces previously

Published United States Mint bullion sales were unchanged on Thursday. 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 March April May 2022 Sales
$50 American Eagle 1 Oz Gold Coin 44,500 57,000 140,500 80,500 137,500 568,000
$25 American Eagle 1/2 Oz Gold Coin 3,000 1,000 5,000 3,000 5,000 58,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 20,000 14,000 8,000 110,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 75,000 25,000 50,000 370,000
$50 American Buffalo 1 Oz Gold Coin 15,500 20,000 64,500 27,500 52,000 234,000
$1 American Eagle 1 Oz Silver Coin 0 425,000 1,080,500 850,000 850,000 9,281,500
$100 American Eagle 1 Oz Platinum Coin 0 0 14,200 0 0 40,000
$25 American Eagle 1 Oz Palladium Coin 0 0 0 0 0 0

 

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Larry

Did anyone see Mike Mezack selling the 2022 S MS69 Maya Angelou clad quarter for a mere $7000. Oh wait, I mean for $6999.95. It actually sold. Apparently there are only 4 MS69’s that have been graded currently. Thank God we have Mike Mezack and NGC bringing us so much value.

Last edited 1 month ago by Larry
Rich

Imagine what the price will be for the first MS-70 graded Angelou clad.

Antonio

I think I have one!! And a Sally Ride too! LOL.