Gold advanced for the first time in five sessions on Friday, but just by a smidgen. Prices for silver and platinum were also little changed. All three metals declined on the week. Gold’s and silver’s weekly losses were their second in a row while platinum extended its weekly declines to three straight. Palladium, meanwhile, notched a solid daily increase, padding its weekly gain.
On Friday, gold for August delivery edged up 50 cents, or 0.03%, to settle at $1,830.20 an ounce on the Comex division of the New York Mercantile Exchange.
Gold prices shed 0.6% this week after falling 1.9% last week. They are up 0.09% 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 15 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, six analysts, or 26%, were on gold bullish in the near term. At the same time, six analysts, or 32%, were bearish on gold and nine analysts, or 42%, were neutral on gold next week.
Meanwhile, 681 votes were cast in online Main Street polls. Of these, 301 respondents, or 44%, looked for gold to rise next week. Another 185, or 27%, said lower, while 195 voters, or 29%, were neutral in the near term."
Elsewhere, silver for July delivery rose 8.3 cents, or 0.4%, to settle at $21.125 an ounce. Silver prices declined 2.1% this week after giving back 1.6% last week. They are 9.5% lower on the year.
In PGM prices on Friday and for the week:
-
July platinum inched 70 cents, or 0.08%, lower to end at $903.70 an ounce. The finish was the lowest since Dec. 15 when platinum ended at $894.20 an ounce. Platinum prices registered a weekly loss of 2.9%.
- Palladium for September delivery added $30.20, or 1.7%, to end at $1,854.30 an ounce, for a 3.1% weekly increase.
Both are lower on the year so far with losses of 6.5% for platinum and 3% for palladium.
US Mint Bullion Sales in 2022
Published U.S. 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 / Week | Last Week | April | May | June | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 80,500 | 137,500 | 0 | 568,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 3,000 | 5,000 | 0 | 58,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 14,000 | 8,000 | 0 | 110,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 25,000 | 50,000 | 0 | 370,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 27,500 | 56,000 | 2,500 | 240,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 850,000 | 850,000 | 0 | 9,281,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 40,000 |
| $25 American Eagle 1 Oz Palladium Coin | 0 | 0 | 0 | 0 | 0 | 0 |
Ground control to Major D
But I buy silver because it’s more affordable. If I sell them 10 years from now, I may see a small profit. But I like them because, they’re shiny. 🙂
Shiny bubbles…
Especially considering the overhead. That’s especially true between silver and gold, but platinum and palladium as well. Too expensive and the return not that great.
Thanks for the tip Major D, I’ll check it oot.
Hi Major D, I ordered from them only 1 time in 2015. A 5 coin Great Lakes set that was sent to me one coin at a time over a period of months, maybe as much as a year. I had no problems, and I really like the set. I predict you will also have no problems. I think I saw the article about the Great Lakes set on this site. They are the only colorized coins I own (not a big fan of colorized coins in general, but I liked that these coins were topographical so the blue color… Read more »