Prices of precious metals increased on Friday, resulting in weekly gains for all of them except palladium. Gold saw its fourth consecutive weekly gain, albeit the most recent two being very modest.
Ending higher for a second day following two straight losses, gold for December delivery climbed by $5.70, or 0.3%, to settle at $1,999.20 an ounce on the Comex division of the New York Mercantile Exchange.
Gold prices inched higher by 0.04% (equivalent to 70 cents) this week, following gains of 0.2% last week, 2.7% in the week ending Oct. 20, and 5.2% in the week ending Oct. 13. Year-to-date, the yellow metal is 9.5% higher.
Looking to the week ahead, Kitco News offers the following forecasts via their Wall Street vs. Main Street surveys:
"This week, 15 Wall Street analysts participated in the Kitco News Gold Survey. Nine experts, or 60%, expected to see higher gold prices next week, while only one analyst, or 7%, predicted a drop in price. The remaining five, or 33%, were neutral on gold for the coming week.
Meanwhile, 701 votes were cast in Kitco’s online polls, and sentiment was virtually identical to that of last week’s survey. 446 retail investors, or 64%, looked for gold to rise next week. Another 157, or 22%, expected it would be lower, while 98 respondents, or 14%, were neutral on the near-term prospects for the precious metal."
Also, after two straight losses, silver for December rose for the second consecutive session, jumping by 43.9 cents, or 1.9%, and closing at $23.285 an ounce. Silver prices increased by 1.7% this week after a 2.6% drop last week. They are 3.1% lower on the year to date.
In other precious metals, both on Friday and for the week:
-
January platinum rose by $13.70, or 1.5%, to end at $944.30 an ounce, advancing its weekly gain to 4.3%.
- Palladium for December delivery tacked on $17.70, or 1.6%, to close at $1,128.30 an ounce, reducing its weekly loss to 0.2%.
When assessing their performance from the beginning of the year to now, platinum has seen a decline of 12.8%, whereas palladium has undergone a more significant drop of 37.3%.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales last changed on Wednesday, with adjusted bullion sales for October increasing by 5,500 ounces in American Gold Eagles, by 632,000 ounces in American Silver Eagles, and by 3,000 ounces in American Gold Buffalos.
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 / November | Last Week | This Week | August | September | October | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 7,500 | 4,000 | 78,000 | 27,500 | 97,000 | 869,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 3,000 | 2,000 | 13,000 | 7,000 | 95,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 0 | 2,000 | 30,000 | 18,000 | 182,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 150,000 | 40,000 | 30,000 | 605,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,500 | 3,000 | 19,500 | 18,500 | 36,500 | 367,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,019,000 | 632,000 | 3,124,000 | 2,970,000 | 3,938,000 | 21,847,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
Gold on another tear. Diamond hands and apes unite. Dyslexic? Untie.
Sign up now to bid on police auction on gold from the Bob Menendez hoarde. Also, buy your $10 raffle ticket for your chance to own a Mercedes with enough room for two bodies in the trunk.
Curious where Silver Keeps it’s “belt”? So that the belt may be “notched” with a “+”! LOL “Silver Notches 1.7% Weekly Gain” Now on to coins or coin related stuff!
The US Mint is soliciting more information through “another survey”. Give them a survey, because we have no idea on what they want or what to do for the 250th Anniversary of the Birth of our Country? Seriously…. With just 2 years to go and nothing but more surveys…. There should have been an internal effort or mandate that placed with an emphasis for the the 250th Anniversary Gran Celebration. They have had a minimum of 50 years to solicit ideas from former and past employees, collectors, NUMISMATISTS & HISTORIANS, nope “we’ll just pump something “out, when we get closer.… Read more »
Back by popular demand the CotY. Single release only for the bicentennial and a half. Reintroducing the 2026 liberty coin, modeled after the 2017 coin.
Nah. Just kidding. They should do a 5 oz coin and put European map on one side and the colonies on the other. Along the edge inscribe. See what you did. In ye olde God we trust, all other require background check.
Kaiser,
Red Oak Box = ROB = Rob you of your hard-earned money! Lol.
I hear the so-called Fiji Mint is having a BOGO sale on its coins with Mike Mezack hand autograph COAs & is offering a free ROB with each purchase…Such a deal!
NumisdudeTX
Kaiser,
Yes, very few countries have their own government Mint these days with global outsourcing for sure. The private, family-owned Pobjoy Mint of Surrey, England is closing the end of this year as Mint Master & director Taya Pobjoy is taking early retirement & selling off the family business & it’s coinage presses & it’s numismatic inventory & it’s intellectual property rights.
Maybe Ms. Pobjoy is going to retire in Fiji! Lol.
NumisdudeTX
really, Really, REALLY US Mint, are you serious? So here I am again, venting about WTH is or IS Not going on inside or at the US Mint! REALLY! “Best of the Mint Coins: Numismatic Coin Reissue Survey” “The year 2026 will mark America’s Semiquincentennial, the 250th anniversary of the founding of our Nation.” Does anyone remember this popular program? The “2016 Centennial Gold Coin Program”? How about the “2009 Ultra High Relief Double Eagle Gold Coin”? Or perhaps the 2021 Morgan and Peace Dollar Anniversary Coins? How about the obverse designs on our American Gold and Silver Eagles.… Read more »
CaliSkier,
Great rant! Lol. I agree that there should be totally new coin designs for the 2026 USA 250th anniversary celebration.
NumisdudeTX
That can be the innovation coin for DC. The zero innovation coin. Blank on both sides. Well as someone said on other post, president should choose, so whoever wins gets to choose design. Maybe biden wins and chooses to honor prez 45 with his coin and on the obverse put McCain’s bust with P.O.W. and on trump’s side either just prisoner, or P.O.S. oh boy oh boy oh boy.
Or we can be duplicitous, George Washington on one side with British uniform on and other side in Colonial uniform, or suit in independence hall.
Is a penny for your thoughts now also putting in your 2 cents?
What about von Braun?
Kaiser,
Reminds me of the great suspense movie “The Boys From Brazil” – and Der Weisse Angel, Josef Mengele, scary as Hell when I first saw it in 1979.
NumisdudeTX
We Americans saved him from that fate, Kaiser Wilhelm. He went straight from Europe to America. The Wikipedia entry was an enjoyable read. I particularly enjoyed the part about him fleeing when he found out Hitler ordered the gassing of all technicians who had worked on rockets. Or earlier when it said Hitler ordered the Gestapo not to prosecute him as long as he was “indispensable”. I wonder if the other Nazis would have welcomed him or blamed him in South America? Perhaps you know some personal second hand stories regarding him? I would not say he was a great… Read more »
He just wanted to go to space. He didn’t care where the money came from. And if AH “invites” you to “work” for him, most likely a life appointment, it is advised to accept until a plan b presents itself. You ought to check out the history of Mac factor, gets his director’s cut commentary. Also the golden ratio and the cause of so many women hating their bodies.
Also, with many institutions gone, like Sears, Woolworth, Pontiac, etc the last bastions of grit would be coca cola, Goodyear, Ford, dodge. The downside to coca cola is Mr Pemberton, the inventor, was a southern fighter in the CW and got his inspiration due to the “healing” aspects of coke mixed with wine. Due to prohibition and people alarmingly getting addicted, he removed the alcohol and replaced it with cola which is a caffeine stimulant. Shortly after prohibition took hold and good Ole gubmint stepped in to be our saviors. When a vacuum is made a void will be filled.… Read more »
Hi Dazed and Coinfused, I am against legislating personal morality. Anything you choose to do to yourself should be your own business. Only when it involves others should there be any limits set. Drugs. Fine. Suicide. Fine. Pedophilia. Not fine. Two consenting adults. Fine. Abortion. Fine. Robbery. Not fine. Industrial pollution. Not fine. Vandalism. Not fine. Forcing anyone to do something against their will. Not fine. Anything unhealthy. Fine. I do not think anything “deserves” life until it can fight for itself, whether that is by being too tough or too cute to kill. Defend yourself, or find a defender… Read more »
Da lawd works in mysterious ways. It was just their time to be called to da good lawd. Those babies are angels. (Well Mayne not, depends if you follow Dantes inferno, then those babies aren’t fairing so well. Also, cool to add abortion to the list. So now we can work on the women folk and fight to save those damsels in distress. If what I do ain’t good enough for saint Pete, then guess I’ll just tunnel under the wall. Huh, now I wonder if damned can escape and seek asylum in heaven. As above so below. Right? Common… Read more »
Hi Dazed and Coinfused,
Heaven is there where Hell is, and Hell is down on Earth.
HI Kaiser Wilhelm,
I believe the point is that if we can create Hell on Earth, we can create Heaven if we wished to. We could end all violence today if everyone did what they say and do. If everyone vowed to never use physical violence against someone unless someone uses it against them first and kept that vow, violence could literally never start. We could literally end it today if we had the will. Makes Humanity even more pitiful in my eyes. The ball is, and always has been, in our court.