Precious metals declined on Friday, but they all posted weekly gains — exceptional ones for gold, silver and platinum.
On Friday, gold for December delivery fell $11.50, or 0.7%, to settled at $1,709.30 an ounce on the Comex division of the New York Mercantile Exchange.
Gold prices advanced 2.2% this week after climbing 1% last week. They are 6.5% 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 19 market professionals took part in Kitco News’ Wall Street survey. Eleven analysts, or 58%, said they were bearish on gold next week. Five analysts, or 26%, said they were bullish on gold and three analysts, or 16%, said they were neutral on the precious metal in the near term.
On the retail side,790 respondents took part in online polls. A total of 451 voters, or 57%, called for gold to rise. Another 222, or 28%, predicted gold would fall. The remaining 117 voters, or 15%, called for a sideways market."
Elsewhere, silver for December delivery lost 40.5 cents, or 2%, to settle at $20.255 an ounce. Still, silver prices rallied 6.4% this week after rising 0.7% last week. They are 13.3% lower on the year.
In PGM futures on Friday and for the week:
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January platinum shed $3.90, or 0.4%, to end at $917.90 an ounce. Platinum notched a 6.8% weekly increase after inching 0.05% higher last week.
- Palladium for December delivery dropped $84.20, or 3.7%, to end at $2,191.30 an ounce. Palladium edged ahead 0.4% from a week ago after soaring 5.4% last week.
Both metals remained divided on the year so far with platinum down 5% and palladium up 14.6%.
US Mint Bullion Sales in 2022
Published United States 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 / This Week | Last Week | May | June | July | August | September | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 164,500 | 31,000 | 59,500 | 47,500 | 47,500 | 780,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 7,000 | 6,000 | 5,000 | 2,000 | 0 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 8,000 | 18,000 | 2,000 | 4,000 | 4,000 | 138,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 50,000 | 135,000 | 20,000 | 20,000 | 15,000 | 560,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 56,000 | 21,500 | 39,500 | 22,500 | 38,500 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 1,350,000 | 925,000 | 850,000 | 850,000 | 833,000 | 13,239,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 23,500 | 15,500 | 1,000 | 0 | 80,000 |
