Most precious metals advanced on Friday, but only silver scored a weekly win. However, all of them plunged in June and in the second quarter.
Climbing for the first time in four sessions, gold for August delivery advanced $11.50, or 0.6%, to settle at $1,929.40 an ounce on the Comex division of the New York Mercantile Exchange.
Gold prices dipped 20 cents this week, bringing their monthly and second quarterly losses to 2.7% and 2.9%, respectively. On Thursday, gold marked its lowest settlement since March 14. Despite recent drops, the yellow metal is ahead by 5.7% year to date.
Looking forward to the upcoming week, Kitco News offers the following forecasts via their Wall Street & Main Street surveys:
"This week, 21 Wall Street analysts participated in the Kitco News Gold Survey. In a tie, the participants, eight analysts, or 38%, voted bullish and bearish, respectively. At the same time, five analysts, or 24%, saw prices trading sideways.
Meanwhile, 845 votes were cast in online polls. Of these, 314 respondents, or 37%, looked for gold to rise next week. Another 374, or 44%, said it would be lower, while 157 voters, or 19%, were neutral in the near term."
Gaining for the first time in three sessions, silver for September delivery tacked on 22.2 cents, or 1%, to close at $23.02 an ounce.
Silver prices posted a 3% weekly increase, effectively trimming their losses for the month, quarter, and year to 2.4%, 4.7%, and 4.2%, respectively.
In other precious metals:
-
October platinum rose by $6.40, or 0.7%, to end at $913.20 an ounce, slimming its weekly, monthly, and quarterly declines to 1.1%, 8.6%, and 9%, respectively.
- Palladium for September delivery slipped by $5.40, or 0.4%, to finish at $1,222 an ounce, marking its lowest settlement since Jan. 3, 2019, and padding its weekly, monthly, and quarterly losses to 4.5%, 10.1%, and 16.8%, respectively.
Looking at their performance since the beginning of the year, platinum has fallen by 15.7%, and palladium has plummeted by 32%.
US Mint Bullion Sales in 2023
The U.S. Mint reported no bullion sales increases on Friday. On Monday, the Mint reported gains for only the second time this month, following additions made on June 13.
The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Friday | Last Week | This Week | March | April | May | June | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 13,500 | 211,000 | 159,500 | 60,500 | 29,500 | 620,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 8,000 | 18,000 | 1,000 | 73,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 10,000 | 12,000 | 32,000 | 4,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 45,000 | 10,000 | 35,000 | 80,000 | 60,000 | 385,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 7,000 | 73,000 | 61,000 | 47,000 | 14,000 | 273,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 530,000 | 900,000 | 900,000 | 1,593,000 | 1,25,500 | 9,497,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 7,500 | 500 | 1,200 | 3,500 | 12,700 |
Palladium down 32% in the past 6 months… Amazing!
NumisdudeTX
Kaiser,
Or maybe have to settle for just a kayak & a lifesaver ring just in case…
NumisdudeTX