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Weekly gains on gold, silver and other metals

Gold fell on Friday after closing at a one-month high on Thursday

Most precious metals fell on Friday, but they all posted weekly gains – strong ones for silver and platinum.

gold for December the delivery fell by 29.60 or 1.7% $ 1,768.30 per ounce at the Comex division of the New York Mercantile Exchange.

Gold rose 0.6% this week after falling 0.06% last week. On Thursday they marked their best settlement since September 14th. They are 6.7% lower than in the previous year.

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

“Kitco’s gold price survey results showed that the opinions of 13 participating analysts on Wall Street were almost evenly divided – 38.5% were bullish, another 38.5% bearish, and the other 23% were price neutral next week.

The Main Street side remained more decidedly more optimistic. Of the 1,425 retail investors who participated, 68% of the prices next week were optimistic, 19% bearish and 13% neutral. This week was also the highest poll participation rate since mid-June. “

Elsewhere, Silver- for December delivery fell 12.8 cents, or 0.6%, to close on $ 23,349 an ounce.

Silver futures rose 2.8% this week for their fourth straight weekly gain. Your previous three were much more modest – 0.8%, 0.5%, and 0.4%.

On Thursday they posted their highest discount since September 15. The price of silver is down 11.6% year over year.

In PGM futures on Friday and for the week:

  • January platinum rose $ 6.60, or 0.6%, to end at $ 1,058.90 per ounce, for a weekly profit of 3%.

  • palladium for December, delivery dropped $ 74.30, or 3.5%, and ended at $ 2,076.60 per ounce, but achieved a weekly increase of 0.2%.

Both remained lower than in the previous year, with losses of 1.9% for platinum and 15.4% for palladium.

US Mint Bullion on sale in 2021

United States Mint gold bullion sales have generally slowed this week compared to the previous week. Mint silver sales were subdued this week. Weekly comparison:

  • American Gold Eagles sales rose 12,500 ounces after rising 84,500 ounces last week.

  • American Buffalo gold coin sales rose 20,000 ounces after rising 12,500 ounces last week.

  • American Silver Eagles sales were flat after rising 500,000 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 August September October 2021 sale
$ 50 American Eagle 1 ounce gold coin 1,000 81,500 12,000 112,000 67,500 93,500 907,000
$ 25 American Eagle 1/2 Oz Gold Coin 0 0 0 21,000 4,000 0 81,000
$ 10 American Eagle 1/4 Oz Gold Coin 0 4,000 0 34,000 8,000 4,000 132,000
$ 5 American Eagle 1/10 Oz Gold Coin 0 20,000 5,000 50,000 35,000 25,000 390,000
$ 50 American Buffalo 1 oz gold coin 0 12,500 20,000 27,500 24,000 32,500 292,000
$ 1 American Eagle 1 ounce silver coin 0 500,000 0 3,930,000 2,735,000 500,000 26,175,500
$ 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/2021/10/15/gold-silver-and-other-metals-log-weekly-gains/

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