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Gold, silver and other metals rise in October

Gold gained 1.5% in October. Other metals gained more.

Precious metals fell on Friday, adding to their weekly losses and reducing their gains a little in October.

gold for December delivery, delivery decreased $ 18.70, or 1% to settle at $ 1,783.90 per ounce at the Comex division of the New York Mercantile Exchange.

Gold futures traded 0.7% lower this week but gained 1.5% over the month. Compared to the previous year, they are 5.9% lower.

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

“The results of the Kitco gold price survey showed that of 13 participating analysts on Wall Street next week, 53.8% were pessimistic about the development of the gold price. Another 30.8% were neutral and only 15.4% bullish.

The Main Street side remained optimistic. Of the 745 participating private investors next week, 60.5% were optimistic, 22.5% bearish and 17% neutral. “

Elsewhere, Silver- for December delivery, 17.1 cents, or 0.7%, were returned to at. to settle $ 23,949 per ounce. Silver futures traded down 2.1% over the week but still rose 8.6% for the month. They are 9.3% below the previous year.

In PGM futures on Friday, for the week and for October:

  • January platinum Lose $ 3.20 or 0.3% to end on $ 1,020.60 per ounce, posted a 3% loss for the week but an increase of 6.1% for the month.

  • palladium for December, delivery dropped $ 9.10, or 0.5%, and ended at $ 1,980.30 per ounce, for a weekly loss of 2.7%, while it rose 4.2% in October.

With losses of 5.4% for platinum and 19.3% for palladium, both metals are below the year-to-date level.

US Mint Bullion on sale in 2021

United States Mint bullion sales in October split in October versus September, with gold coins moving faster and silver coins moving slower. Whether gold or silver, their sales since the beginning of the year were still significantly higher than in 2020. In comparison of the headlines:

  • American Eagle gold coins rose 149,500 ounces in October, increasing 99.3% from 75,000 ounces in September and 107.6% from 72,000 ounces in October 2020. Year-to-date sales of American Gold Eagles are down 1,072,000 ounces 51.1% higher than the 709,500 ounces sold in the first ten months of last year.

  • American Eagle silver coins rose 1,076,000 ounces, a 60.7% decrease from 2,735,000 ounces in September and 68.3% from 3,397,000 ounces in October 2020 at the same time in 2020.

  • American Buffalo gold coins rose 38,500 ounces in October, an increase of 60.4% from 24,000 ounces in September and 97.4% from 19,500 ounces in October 2020 ounces shipped during the same period last year.

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 August September October 2021 sale
$ 50 American Eagle 1 ounce gold coin 0 21,000 17,500 112,000 67,500 132,000 945,500
$ 25 American Eagle 1/2 Oz Gold Coin 0 3,000 4,000 21,000 4,000 7,000 88,000
$ 10 American Eagle 1/4 Oz Gold Coin 0 8,000 10,000 34,000 8,000 22,000 150,000
$ 5 American Eagle 1/10 Oz Gold Coin 0 30,000 30,000 50,000 35,000 85,000 450,000
$ 50 American Buffalo 1 Oz Gold Coin 0 4,000 2,000 27,500 24,000 38,500 298,000
$ 1 American Eagle 1 ounce silver coin 0 576,000 0 3,930,000 2,735,000 1,076,000 26,751,500
$ 100 American Eagle 1 ounce platinum coin 0 0 0 0 0 0 75,000
Tuskegee Airmen 5 oz silver coin 0 0 0 0 0 0 52,900

Article Source : https://www.coinnews.net/2021/10/29/gold-silver-and-other-metals-surge-in-october/

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