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Gold, Silver and Palladium Log Weekly Gains

Gold prices gained more than 1% this week

Precious metals advanced for a second straight session, driving or padding weekly gains for silver, gold and palladium. Platinum, meanwhile, posted one of the sharpest increases among metals on Friday but still dropped over 1% on the week.

on friday, gold for June delivery rose $7.80, or 0.4%, to settle at $1,945.60 in ounces on the Comex division of the New York Mercantile Exchange.

Gold futures moved ahead 1.1% this week after falling 1.6% last week. They are 6.4% higher 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, 16 Wall Street analysts participated in Kitco News’ gold survey. Among the participants, ten analysts, or 63%, called for gold prices to rise next week. At the same time, six analysts, or 38%, were neutral on prices.

Meanwhile, 842 votes were cast in online Main Street polls. Of these, 478 respondents, or 57%, looked for gold to rise next week. Another 198, or 23%, said lower, while 166 voters, or 20%, were neutral in the near term.”

elsewhere, silver for May delivery climbed 8.8 cents, or 0.4%, to close at $24,823 in ounces. Silver prices registered a 0.7% weekly increase after sinking 3.8% last week. They are 6.3% higher on the year.

In PGM futures on Friday and for the week:

  • July platinum jumped $17.60, or 1.8%, to end at $975.60 in ouncesbut declined 1.3% from a week ago.

  • palladium for June delivery soared $197, or 8.9% to end at $2,420.10 in ouncesfor a 6.7% weekly gain.

Both are higher on the year so far with increases 1% for platinum and 26.6% for palladium.

US Mint Bullion Sales in 2022

Weekly sales of United States Mint bullion products improved for silver coins and were about the same, overall, for gold coins. In week-over-week comparisons:

  • American Gold Eagles rose 26,000 ounces against 20,500 ounces
  • American Gold Buffalos climbed 7,000 ounces compared to 11,000 ounces
  • American Silver Eagles rose 425,000 ounces against no sales
  • American Platinum Eagles were flat 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 last week January February March This Week / April 2022 Sales
$50 American Eagle 1oz Gold Coin 0 19,000 123,500 86,000 140,500 21,500 371,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 45,000 0 5,000 1,000 51,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 64,000 4,000 20,000 6,000 94,000
$5 American Eagle 1/10 oz Gold Coin 0 5,000 195,000 25,000 75,000 25,000 320,000
$50 American Buffalo 1oz Gold Coin 0 11,000 61,500 28,500 64,500 7,000 161,500
$1 American Eagle 1oz Silver Coin 0 0 5,001,000 1,500,000 1,080,500 425,000 8,006,500
$100 American Eagle 1oz Platinum Coin 0 0 N / A 25,800 14,200 0 40,000
$25 American Eagle 1oz Palladium Coin 0 0 0 0 0 0 0
Tuskegee Airmen 5oz Silver Coin 0 0 0 0 0 0 0

Article Source : https://www.coinnews.net/2022/04/08/gold-silver-and-palladium-log-weekly-gains/

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