Gold bounced Friday after ending at a near two-and-a-half year low on Thursday. The yellow metal, however, still notched a significant weekly loss.
Gold for December delivery rose $6.20, or 0.4%, to settle at $1,683.50 an ounce on the Comex division of the New York Mercantile Exchange.
Gold prices fell 2.6% this week after edging 0.4% higher last week. On Thursday, they closed at their lowest point since April 3, 2020. The yellow metal is 7.9% 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, a total of 22 market professionals took part in Kitco News’ Wall Street survey. Fourteen analysts, or 63%, said they were bearish on gold next week. At the same time four analysts apiece, or 18%, were bullish or neutral on gold in the near term.
On the retail side, 1,045 respondents took part in online polls. A total of 395 voters, or 38%, called for gold to rise. Another 489, or 47%, predicted gold would fall. The remaining 161 voters, or 15%, called for a sideways market."
Meanwhile, silver for December delivery climbed 11.2 cents, or 0.6%, to settle at $19.381 an ounce. Silver prices jumped 3.3% this week after soaring 5% last week. They are 17% lower on the year.
In PGM futures on Friday and for the week:
-
October platinum dipped $2.70, or 0.3%, to end at $901 an ounce, but posted a 2.8% weekly gain.
- Palladium for December delivery fell $33.40, or 1.6%, to end at $2,112.70 an ounce, for a 3% weekly loss.
Both metals remained divided on the year so far with platinum down 6.8% and palladium up 10.5%.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged this week. 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 | May | June | July | August | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 164,500 | 31,000 | 59,500 | 47,500 | 20,000 | 753,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 7,000 | 6,000 | 5,000 | 2,000 | 0 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 8,000 | 18,000 | 2,000 | 4,000 | 4,000 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 50,000 | 135,000 | 20,000 | 20,000 | 5,000 | 550,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 56,000 | 21,500 | 39,500 | 22,500 | 11,500 | 333,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,350,000 | 925,000 | 850,000 | 850,000 | 425,000 | 12,831,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 23,500 | 15,500 | 1,000 | 0 | 80,000 |
