Gold, silver and platinum scored sold gains on Friday while palladium tumbled, but all the metals notched weekly wins.
Gold for December delivery rose $19.50, or 1.2%, to settle at $1,656.30 an ounce on the Comex division of the New York Mercantile Exchange.
Gold prices edged 0.5% higher this week after falling 3.5% last week. They are 9.4% 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, 20 market professionals took part in Kitco News’ Wall Street survey. Eleven analysts, or 55%, said they were bearish on gold next week. Four analysts, or 20%, said they were bullish on gold and five analysts, or 25%, said they were neutral on the precious metal in the near term.
On the retail side, 473 respondents took part in online polls. A total of 180 voters, or 38%, called for gold to rise. Another 192, or 41%, predicted gold would fall. The remaining 101 voters, or 21%, called for a sideways market."
Elsewhere, silver for December delivery tacked on 37.7 cents, or 2%, to settle at $19.066 an ounce. Silver prices surged 5.5% this week after plummeting 10.8% last week. They are 18.4% lower on the year.
In PGM futures on Friday and for the week:
-
January platinum added $18.80, or 2.1%, to end at $933.90 an ounce, for a 4.4% weekly gain.
- Palladium for December delivery dropped $74.10, or 3.6%, to end at $2,005.50 an ounce, but inched 0.4% higher on the week.
Both metals remained divided on the year so far with platinum down 3.3 % and palladium up 4.9%.
US Mint Bullion Sales in 2022
On Friday, the United States Mint published sales of American Eagle bullion coins for the first time this month. Increases included a combined 57,000 ounces in American Gold Eagles and 850,000 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 | June | July | August | September | October | 2022 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 54,500 | 31,000 | 59,500 | 47,500 | 47,500 | 54,500 | 835,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 6,000 | 5,000 | 2,000 | 0 | 1,000 | 74,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 18,000 | 2,000 | 4,000 | 4,000 | 2,000 | 140,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 15,000 | 135,000 | 20,000 | 20,000 | 15,000 | 15,000 | 575,000 |
| $50 American Buffalo 1 Oz Gold Coin | 11,000 | 21,500 | 39,500 | 22,500 | 44,500 | 32,500 | 398,500 |
| $1 American Eagle 1 Oz Silver Coin | 850,000 | 925,000 | 850,000 | 850,000 | 833,000 | 850,000 | 14,089,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 23,500 | 15,500 | 1,000 | 0 | 0 | 80,000 |
