Gold prices lost 0.6% this week
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 in ounces 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.
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 bullish on gold 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 in ounces. 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 inch 70 cents, or 0.08%, lower to end at $903.70 in ounces. 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 in ouncesfor 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 US Mint bullion sales were unchanged for a second week in a row.
Below is a sales breakdown of US 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 1oz 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 1oz Gold Coin||0||0||27,500||56,000||2,500||240,500|
|$1 American Eagle 1oz Silver Coin||0||0||850,000||850,000||0||9,281,500|
|$100 American Eagle 1oz Platinum Coin||0||0||0||0||0||40,000|
|$25 American Eagle 1oz Palladium Coin||0||0||0||0||0||0|
Article Source : https://www.coinnews.net/2022/06/24/gold-and-silver-prices-fall-for-a-second-week/