Gold declined on Friday while silver, platinum and palladium advanced. Gold’s loss, although modest, was enough to bring it down on the week — also slightly. The other metals logged weekly gains.
Gold for December delivery shed $1.80, or 0.1%, to settle at $1,757.40 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures dipped 0.06% this week following increases of 0.4% last week and 30 cents in the week ending Sept. 24. They are 7.3% 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 14 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, eight, or 57%, called for gold prices to rise. At the same time, five analysts, or 36%, called for lower gold prices next week. One analyst, or 7%, was neutral on gold in the near term.
Meanwhile, A total of 841 votes were cast in online Main Street polls. Of these, 442 respondents, or 53%, looked for gold to rise next week. Another 265, or 32%, said lower, while 134 voters, or 16%, were neutral.”
Elsewhere, silver for December delivery rose 4.7 cents, or 0.2%, to close at $22.705 an ounce. Silver futures traded 0.8% higher this week after increases of 0.5% last week and 0.4% for the week ended Sept. 24. They are 14% lower on the year.
In PGM futures on Friday and for the week:
January platinum added $42.90, or 4.4%, to $1,028.20 an ounce, for a 5.6% weekly gain.
- Palladium for December delivery added $118, or 6%, to $2,073 an ounce, for a 8.9% weekly gain.
Both are lower on the year so far with drops of 4.7% for platinum and 15.5% for palladium.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales were unchanged last week. Gains this week included:
84,500 ounces in American Gold Eagles,
12,500 ounces in American Buffalo gold coins, and
500,000 ounces in American Silver Eagles.
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||Last Week||August||September||This Week / Oct.||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||3,000||0||112,000||67,500||81,500||895,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||21,000||4,000||0||81,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||34,000||8,000||4,000||132,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||50,000||35,000||20,000||385,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||27,500||24,000||12,500||272,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||3,930,000||2,735,000||500,000||26,175,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||75,000|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||0||52,900|