Precious metals rallied on Friday, padding or resulting in gains on the week for gold, platinum and palladium. Gold ended the week at a nearly seven-month high.
Gold for February delivery advanced $29.10, or 1.6%, to settle at $1,869.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since ending at 1,875.50 an ounce on June 10. Gold prices surged 2.4% for the week.
"Technically, the gold futures bulls have the solid overall near-term technical advantage. Prices are in a two-month-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close in February futures above solid resistance at $1,900.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,775.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Elsewhere, silver for March delivery tacked on 55.8 cents, or 2.4%, to finish at $23.982 an ounce. Silver prices, however, traded 0.2% lower for the week.
In PGM prices on Friday and for the week:
April platinum surged $34.70, or 3.2%, to end at $1,104.30 an ounce, for a 2% weekly increase.
- Palladium for March delivery soared $74, or 4.3%, to end at $1,806.70 an ounce, for a 0.5% increase.
US Mint Bullion Sales in 2023
Published United States Mint bullion sales last changed on Dec. 29. 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)|
|August||September||October||November||December||2022 Sales||2023 Sales|
|$50 American Eagle 1 Oz Gold Coin||47,500||47,500||59,500||6,000||4,000||850,000||0|
|$25 American Eagle 1/2 Oz Gold Coin||2,000||0||2,000||0||0||75,000||0|
|$10 American Eagle 1/4 Oz Gold Coin||4,000||4,000||2,000||0||0||140,000||0|
|$5 American Eagle 1/10 Oz Gold Coin||20,000||15,000||15,000||0||0||575,000||0|
|$50 American Buffalo 1 Oz Gold Coin||22,500||44,500||39,500||4,500||0||410,000||0|
|$1 American Eagle 1 Oz Silver Coin||850,000||833,000||1,258,000||1,407,000||59,000||15,963,500||0|
|$100 American Eagle 1 Oz Platinum Coin||1,000||0||0||0||0||80,000||0|