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Gold, silver and other metals fall during the week

Gold is down 3.6% this week

Silver, platinum and palladium all fell on Friday, adding to their weekly losses. Silver ended the day at more than a six-week low. Gold, meanwhile, rose for the second straight year but still posted a sizeable weekly loss.

gold for December, delivery rose $ 1.20, or 0.07%, to level off at $ 1,785.50 per ounce at the Comex division of the New York Mercantile Exchange.

Gold futures traded 3.6% lower this week after falling 0.9% last week. On Tuesday they marked their lowest level since November 3rd. The yellow metal is 5.8% below the previous year.

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

“This week, 15 Wall Street analysts took part in Kitco News’ gold poll. For only the second time on record, the poll showed a three-way tie. Each scenario received five votes.

A total of 1,527 votes were cast in an online poll on Main Street. Of these, 1,024, or 67%, of those surveyed expected gold to go up next week. Another 304, or 20%, said lower, while 199 voters, or 13%, were neutral. “

Elsewhere, Silver- for December, delivery declined 38.9 cents, or nearly 1.7%, and closed at $ 23,107 an ounce. The comparison was the lowest since October 12, when silver ended at $ 22.514 an ounce.

Silver futures traded 6.8% lower this week after falling 2.2% last week. They are down 12.5% ​​year-on-year.

In PGM futures on Friday and for the week:

  • January platinum Lost $ 21 or 2.2% to end at $ 954.30 an ounce, for a 7.9% weekly decrease.

  • palladium for December, delivery decreased $ 58.80, or 3.2%, and ended at $ 1,789.10 per ounce, for a weekly loss of 13.7%.

With losses of 11.6% for platinum and 27.1% for palladium, both metals are well below the previous year’s level.

US Mint Bullion on sale in 2021

Sales of US mint bars slowed or stagnated from a week earlier. In a weekly comparison:

  • American Gold Eagles sales rose 24,500 ounces after rising 31,500 ounces last week.

  • American Buffalo gold coin sales rose 8,500 ounces after rising 11,000 ounces last week.

  • American Silver Eagles sales were flat after adding 524,500 ounces last week.

  • American Palladium Eagles sales were flat for the second straight week.

The following is a breakdown of US Mint Bar Product sales, with columns listing the number of coins sold in different time periods.

US Mint Bullion Sales (number of coins)
Friday / This week Last week September October November 2021 sale
$ 50 American Eagle 1 ounce gold coin 24,000 29,500 67,500 135,500 97,000 1,046,000
$ 25 American Eagle 1/2 Oz Gold Coin 0 2,000 4,000 7,000 6,000 94,000
$ 10 American Eagle 1/4 Oz Gold Coin 2,000 0 8,000 22,000 8,000 158,000
$ 5 American Eagle 1/10 Oz Gold Coin 0 10,000 35,000 85,000 35,000 485,000
$ 50 American Buffalo 1 oz gold coin 8,500 11,000 24,000 41,000 35,000 335,500
$ 1 American Eagle 1 ounce silver coin 0 524,500 2,735,000 1,076,000 999,000 27,750,500
$ 100 American Eagle 1 ounce platinum coin 0 0 0 0 0 75,000
$ 25 American Eagle 1 ounce palladium coin 0 0 0 0 8,700 8,700
Tuskegee Airmen 5 oz silver coin 0 0 0 0 0 52,900

Article Source : https://www.coinnews.net/2021/11/26/gold-silver-and-other-metals-tumble-on-week/

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