Gold advanced for the first time in five sessions on Friday, but just by a smidgen. Prices for silver and platinum were also little changed. All three metals declined on the week. Gold’s and silver’s weekly losses were their second in a row while platinum extended its weekly declines to three straight. Palladium, meanwhile, notched a solid daily increase, padding its weekly gain.
On Friday, gold for August delivery edged up 50 cents, or 0.03%, to settle at $1,830.20 an ounce on the Comex division of the New York Mercantile Exchange.
Gold prices shed 0.6% this week after falling 1.9% last week. They are up 0.09% 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. Among the participants, six analysts, or 26%, were on gold bullish in the near term. At the same time, six analysts, or 32%, were bearish on gold and nine analysts, or 42%, were neutral on gold next week.
Meanwhile, 681 votes were cast in online Main Street polls. Of these, 301 respondents, or 44%, looked for gold to rise next week. Another 185, or 27%, said lower, while 195 voters, or 29%, were neutral in the near term."
Elsewhere, silver for July delivery rose 8.3 cents, or 0.4%, to settle at $21.125 an ounce. Silver prices declined 2.1% this week after giving back 1.6% last week. They are 9.5% lower on the year.
In PGM prices on Friday and for the week:
-
July platinum inched 70 cents, or 0.08%, lower to end at $903.70 an ounce. The finish was the lowest since Dec. 15 when platinum ended at $894.20 an ounce. Platinum prices registered a weekly loss of 2.9%.
- Palladium for September delivery added $30.20, or 1.7%, to end at $1,854.30 an ounce, for a 3.1% weekly increase.
Both are lower on the year so far with losses of 6.5% for platinum and 3% for palladium.
US Mint Bullion Sales in 2022
Published U.S. Mint bullion sales were unchanged 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 / Week | Last Week | April | May | June | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 80,500 | 137,500 | 0 | 568,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 3,000 | 5,000 | 0 | 58,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 14,000 | 8,000 | 0 | 110,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 25,000 | 50,000 | 0 | 370,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 27,500 | 56,000 | 2,500 | 240,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 850,000 | 850,000 | 0 | 9,281,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
