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Gold ends week at five-month high

Gold ended on Friday at the best price since June 11th

Platinum fell on Friday, modestly reducing its weekly earnings, while gold, silver and palladium replenished their weekly earnings. Gold extended its winning streak to seven in a row and ended the day at just over five-month high.

gold for December, delivery rose $ 4.60, or 0.3%, to level off at $ 1,868.50 per ounce at the Comex division of the New York Mercantile Exchange. The comparison was the highest since June 11, when gold ended at $ 1,879.60 an ounce.

Gold futures traded 2.9% higher this week after rising 1.8% last week. Compared to the previous year, they are 1.4% lower.

Looking ahead to next week, Kitco News offers the following predictions about their Wall Street and Main Street polls:

“This week, 18 Wall Street analysts took part in Kitco News’ gold poll. Among the participants, 15 analysts, or 83%, called for the price of gold to rise next week. At the same time, two analysts, or 11%, were pessimistic short-term gold, and one analyst, or 6%, was was price neutral.

A total of 1,018 votes have now been cast in online polls on Main Street. Of these, 722 respondents, or 71%, expected the price of gold to rise in the next week. Another 165, or 16%, said lower, while 131 voters, or 13%, were neutral. “

Elsewhere, Silver- for December the delivery rose by 4.5 cents or 0.2% $ 25,346 per ounce. The closing price was its best since August 4th, when silver closed at $ 25,461 an ounce.

Silver futures traded 4.9% higher this week after rising 0.9% last week. They are 4% lower than in the year.

In PGM futures on Friday and for the week:

  • January platinum down $ 5.30, or 0.5%, and ended at $ 1,089.20 per ounce, but achieved a 5.2% weekly increase.

  • palladium for December, delivery increased $ 55.10, or 2.7%, and ended at $ 2,117.70 per ounce, for a weekly gain of 4.4%.

Platinum’s weekly gain pushed the precious metal higher for the year – up 0.9%. Palladium, however, is 13.7% lower than the year-to-date.

US Mint Bullion on sale in 2021

Compared to last week, the United States Mint bar sales were stronger for gold coins but weaker for silver and platinum coins. Weekly comparison:

  • American Gold Eagles sales rose 29,500 ounces after rising 20,000 ounces last week.

  • American Buffalo gold coin sales rose unchanged by 15,500 ounces after being flat last week.

  • American Silver Eagles sales were flat after adding 474,5000 ounces last week.

  • American Platinum Eagles sales rose 800 ounces after rising 7,900 ounces last week.

Below is a sales breakdown of the US Mint’s gold coin products, with columns listing the number of coins sold in different time periods.

US Mint Bullion Sales (number of coins)
Friday Last week In this week September October November 2021 sale
$ 50 American Eagle 1 ounce gold coin 7,000 17,500 26,000 67,500 135,500 42,500 992,500
$ 25 American Eagle 1/2 Oz Gold Coin 1,000 2,000 2,000 4,000 7,000 4,000 92,000
$ 10 American Eagle 1/4 Oz Gold Coin 0 2,000 4,000 8,000 22,000 6,000 156,000
$ 5 American Eagle 1/10 Oz Gold Coin 10,000 10,000 15,000 35,000 85,000 25,000 475,000
$ 50 American Buffalo 1 oz gold coin 2,000 0 15,500 24,000 41,000 15,500 316,000
$ 1 American Eagle 1 ounce silver coin 0 474,500 0 2,735,000 1,076,000 474,500 27.226.500
$ 100 American Eagle 1 ounce platinum coin 800 7,900 0 0 0 8,700 83,700
Tuskegee Airmen 5 oz silver coin 0 0 0 0 0 0 52,900

Article Source : https://www.coinnews.net/2021/11/12/gold-ends-week-at-five-month-high-2/

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