Precious metals fell on Friday, driving weekly losses higher for platinum and palladium while trimming gains on the week for gold and silver.
Gold for April delivery shed $8, or 0.4%, to settle at $1,954.20 an ounce on the Comex division of the New York Mercantile Exchange.
"The risk of the Russia-Ukraine war becoming [World War 3] is diminishing for the moment and the more immediate concern is the impact of more aggressive interest rates, especially on the economy," MarketWatch quoted Edmund Moy, former director of the United States Mint and senior IRA strategist for gold and silver dealer U.S. Money Reserve.
Gold prices rose 1.3% this week after falling 2.8% last week. On Thursday, they marked their highest settlement since March 11. The yellow metal is 6.9% higher 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, 17 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, 12 analysts, or 71%, called for gold prices to rise next week. At the same time, four analysts, or 24%, were bearish on gold in the near term, and one analyst, or 6%, was neutral on prices.
Meanwhile, 1,034 votes were cast in online Main Street polls. Of these, 743 respondents, or 72%, looked for gold to rise next week. Another 158, or 15%, said lower, while 133 voters, or 13%, were neutral in the near term."
Silver for May delivery lost 30.5 cents, or 1.2%, to close at $25.615 an ounce. Silver prices advanced 2.1% this week, for their seventh weekly gain in eight weeks. They sank 4.1% last week. Like for gold, on Thursday, silver finished at its best price since March 11. Before then, its six consecutive weekly gains had lifted prices by a combined $3.86 or 17.3%. The precious metal is 9.7% higher on the year.
In PGM futures on Friday and for the week:
-
April platinum fell $22.70, or 2.2%, to end at $1,008.50 an ounce, for a 2.7% weekly loss.
- Palladium for June delivery tumbled $136.30, or 5.4%, to end at $2,394.30 an ounce, for a 4% weekly drop.
Despite their hefty weekly losses, both are well higher on the year so far with advances of 4.4% for platinum and 25.2% for palladium.
US Mint Bullion Sales in 2022
Published United States Mint bullion sales were unchanged last week. This week, the U.S. Mint reported gains totaling:
- 58,000 ounces in American Gold Eagles,
- 26,500 ounces in American Gold Buffalos,
- 480,500 ounces in American Silver Eagles climbed, and
- 3,000 ounces in American Platinum 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 | This Week | January | February | March | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 11,000 | 0 | 52,500 | 123,500 | 86,000 | 121,500 | 331,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 3,000 | 45,000 | 0 | 4,000 | 49,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 0 | 6,000 | 64,000 | 4,000 | 18,000 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 0 | 25,000 | 195,000 | 25,000 | 70,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 6,000 | 0 | 26,500 | 61,500 | 28,500 | 53,500 | 143,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 480,500 | 5,001,000 | 1,500,000 | 1,080,500 | 7,581,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 3,000 | N/A | 25,800 | 14,200 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
I haven’t bought Gold Eagles since 1995. I did buy a Gold Buffalo when they were first released but only that one. I’ve been buying UK Sovereigns and gold from other countries. Also the case they come in is nicer than U.S. bullion and coins.
Antonio, you’re on a mean streak! Your preference for British Gold Sovereigns and gold coins from other countries is interesting. Is it better to purchase them directly from the Foreign Country’s Mint or indirectly from American Dealers, or both depending on the circumstances?
“Are You Sure Antonio Done It This Way“
Good point, Major. I wonder though how prohibitive the international shipping costs are, as Daniel has remarked with regards the international shipping charges he has to pay when ordering from the US Mint from abroad.
The obstacles are many – solutions few
Nice Dinghies!
Diversification is paramount to accountability and since few Governments are accountable it’s wise to acquire from an array of sources undoubtedly why you consistently achieve First One On Thread status.
Congratulations and it’s only fitting that you are presented with the American Bullion Award: Gold glistening in the light as the crowd cheers Antonio or Go Brandon I can’t make it out
Kaiser, Why are you so obsessed with our former, and hopefully next, President? He’s not the one fuc*ing up our country, Biden is. Is Biden making your life better? And as far as your cheesy inserts, that one was photo shopped from Trump hugging the American Flag.You should have an insert with Biden kissing Putins ass, as he and Hunter are Putins toys. Also, what’s up with this ‘First one on thread BS?’ Have things gotten so bad that we have to come up with such lame accolades like this? just saying…
Somebody needs a hug – Biden is a piece of shit but anyone with a 3rd grade education knows Trump is a pedophile so……….. why are we supporting any of these losers —— Comprehension of the award process here does require a 3rd grade education so I understand why you so confused maybe you should stick to race profiling automobile drivers – everyone has a special skill
Maybe you should refresh your grammar skills? You certainly write like a third grader. As far as Trump being a ‘pedophile’, where’s your proof? Just as I thought…you don’t have any!
.
Kaiser, Have you succumbed to the ‘Everyone deserves a Medal/Prize’ stance so prevalent in our education system?
They’re still cheesy Kaiser, and no I don’t smoke.
Do people actually buy that
Sir Kaiser, like you, I have always wanted and have tried to order one of these Congratulations Set Proof Silver Dollars, but to no avail since they sell out immediately upon release. But I still try every year and was hoping to maybe get lucky this year, especially since this year’s set is the first year with the new design Type 2 reverse (as last year’s set was the last year issue of the old Type 1 reverse). For the price, only $2 more than the regular ASE W-mint Proof, they would be a nice collectible to own or to… Read more »
I never have even looked at them until you guys mentioned it – so it says this coin has an enhanced Obverse???? Were these available thru enrollments??
Also what about the (3,046) Silver Eagle 40-coin trays available to bulk buyers?
Thanks Rich,
You helped me realize I don’t want or need one – what a relief
The real issue was; is there anything different about the 2 coins other than the packaging and maybe were all confused because the freaking US Mint is making this S—- way more confusing than it needs to be.
So are we all in agreement that both coins are the same and only the packaging is different???????????????
I think we’re in violent agreement.
You guys seem to have a difficult time analyzing simple things.Were you government employees? The Mint presses a certain number of ASE’s then takes X amount of them and places them in a “Congratulations Package’ which were intended as gifts for special events. But the Numismatic hypnotists placed everyone in a trance and convinced all these are ‘RARE’ and my favorite ‘a Subset’ of the ASE. That’s why today people. or fools, are willing to pay exorbitant prices for them.
Sir Kaiser, Agree the HOL = 3 is a killer, and with the “Infamous 18” getting their 10% Advance Purchases, the actual available product quantity will be less than 30,000 on release day – a double whammy. Our chances of scoring one of these will be just like it was for the 2019-S ASE Enhanced Reverse Proof. On top of that, the Mint is listing the 2022-W ASE Proof for sale at the same time with a HOL = none. What’s up with that, after it appeared to have been sold out earlier this week through Enrollment Program ordering. As… Read more »
Just get me in the door I will do the rest
Tell me where those Sally Ride Enrollments went or else………….
Oh My! It’s an honor bestowed and returned
Yeah, just like in the uncut/unrated The Boondock Saints
So is the enhanced Obverse worth all the trouble ? Is that the key feature everyone is excited about?
SENZA, all the new reverse design Type 2 ASEs beginning in 2021 have the enhanced feature obverse. The high demand key feature of the Congratulations Set is in its exclusive “Set” packaging (OGP) and its limited mintage of 30,000 sets. And because of this, they are extremely difficult to order online from the Mint and always sell out in a matter of minutes, and then double or triple in value immediately. Therefore, they are a favorite of flippers and dealers, who stand to make a nice, easy profit on them.
Not a chance, Major D. These Sets will be sold out in less than 60 minutes, guaranteed.
That’s interesting “Favorite of Flippers” and if they last 60 minutes I could probably get one – trying for 3 might be a goo0d idea. I think I’m interested now. It’s definitely a maybe!
There’s no way were gonna get 3 if they are that Hot better try for just one and if that succeeds go back for more
We can’t get Greedy
Major D, SENZA, et. a., After doing some research into the Congratulations (Gift) Set, I may have misspoke regarding its level of demand, and availability and difficulty in ordering. This years edition probably will not sell out as fast as I said earlier, regardless of the HOL being 3 or 1. The Congratulations Set first came out in 2013 with little fanfare up until 2017 when in caught a lot of people’s attention because of the special edition “S mint” 2017-S ASE Proof it contained. Prior to that, all other years contained the usual W mint ASE Proof (i.e., 2013… Read more »
Thanks you shared info I didn’t previously understand but after some research – it’s probably a no-go. There are a few Pre-sales on Feebay right now that don’t appear to have any interest so they did the work for us. The search for Flipper items goes on……………… Not all Flipper’s are Bad People but some People are Bad Flippers. You see there is a whole population out there who collects coins but for a variety of reasons choose not to have direct contact with the US Mint or more specifically the US Government – so we need some flippers kinda… Read more »
…or good Cholesterol.
And as The American Dream, Dusty Rhodes put it, we’re all “the son of a plumber”
Right On “D”
So true, Major D. In the Mint’s own words:
A thoughtful and creative gift for many occasions—graduations, awards, achievements, new job/promotions, retirements, anniversaries.
The perfect way to say “congratulations” to special people for milestone achievements and anniversaries—a meaningful and unique gift to treasure for years to come.
I think were going to need an expert
Let’s just hope that in the future – the US Mint learns how to take care of business https://www.youtube.com/watch?v=ybtl9qVFAjc
Here is the next Fiasco March 29, 2022
American Women Quarters™ Program 2022 Silver Proof Set 22WS San Francisco (S)
At $73.00 + Feebay Fees + $10.95 = $83.95 + Priority Shipping $8.95 = $92.90 is the break even sale price for this item on Feebay if your not a dealer with a HUGE US Mint discount and ebay perks.
Unless I’m missing something here – this one isn’t a desirable Flipper
Noticed this on Feebay today – This account is running multiple ads and auctions and I believe is the account who had more than 10 available before the HOL was lifted
I know Sir Kaiser, I know,,,,, but there just wouldn’t be any joy in it if I couldn’t complain about it………..
FeeBay ?
When you sell on eBay are they reporting transactions over $600 or if you sell over $600 in a year?
When I hit $600.00 they sent me a pop up that said ” You have exceeded $600.00 in sales and your account is inactive until you provide your full social security number” the other part of the message was sad and hilarious it said something like “but don’t worry we know most people are selling things at a loss on Feebay so you probably won’t have any tax liability from this reporting.
Welcome to the new America https://www.youtube.com/watch?v=6FMGYycBAMU
US Mint sent me reminders today that this item is back in stock however, there were none when I reached the US Mint website
Sir Kaiser, speaking of the next Fiasco, as SENZA put it, what are your thoughts on the April 14th release of the standard 2022-W ASE Proof, now that the topic of the Congratulations Set release has been beaten like a dead horse. Not considering the fulfillment of the enrollment orders, how do you think the live online ordering will go for those ASE Proofs in light of the fact that they were sold out through enrollment orders last week according to the Mint? I wonder what the Mint has is store for those customers trying to place online orders for… Read more »
I have 5 reserved and listed for flipping on Feebay and nobody is showing any interest
That’s not a good sign
Rich and Kaiser,
I think I may just be in the wrong business, the Vintage Tinker Toy market seems to be booming and 5 year old’s are paying big bucks for this commodity – It’s time to go after his allowance.
Make of your Gosh Darn mind Kaiser LOL
Very interesting, Sir Kaiser. Here is a slight (of hand) change the Mint has made for the “Coming Soon” 2022-W ASE Proof April 14th release for online ordering. When originally scheduled its listing specified a product limit = 300,000 with a HOL. Now its listing for April 14 specifies: Item Number: 22EA American Eagle 2022 One Ounce Silver Proof Coin (W) Mint Mintage Limit: None Product Limit: None Household Order Limit: None Could this mean the Mint’s COVID-inspired silver shortage has been overcome and now there are plenty of silver blanks (after all the Rona is over, right)? Might the… Read more »
It seems like someone on this Blog mentioned a theory that restocks occur on Sunday mornings at the Mint
That does not compute with me either – why would they work on Sunday when don’t work Monday – Saturday
Against my better judgement and stern warnings from all o f my security technology – I did click on your link and observe that blast from the past and what looked like a tribute to Roman Polanski…..
The I didn’t do it mug shot and the I got away with it mug shot
Sharon https://www.youtube.com/watch?v=G8XUma8WvG8
Sir Kaiser, I noticed the notice says as of March 3, 2022. Is that a typo and should it be March 28, 2022? Just noticing…
How about a TV Dinner Rich, https://www.youtube.com/watch?v=C-6mI708yWc
Kaiser, it’s Blue – Pill – Day and I think maybe you took the Red Pill again but it’s also Monday and these things happen