Gold Logs Fifth Weekly Gain and 9-Month High | marketrealtime.com


Gold moved 0.3% ahead on the week

Palladium declined sharply on Friday while gold, silver and platinum rose modestly. Only gold marked a weekly gain — a fifth straight, and it also scored another nine-month high.

Rising for a second consecutive session, gold for February delivery climbed $4.30, or 0.2%, to finish at $1,928.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since it ended at $1,934.30 an ounce on April 22.

Gold prices for the week edged up 0.3%. The precious metal is 5.6% higher on the year to date.

In looking ahead to next week, Kitco News offers the following forecasts via their Wall Street & Main Street surveys:

“This week, 18 Wall Street analysts participated in the Kitco News Gold Survey. Among the participants, eight analysts, or 44%, were bullish on gold in the near term. At the same time, four analysts, or 22%, were bearish for next week and six analysts, or 33%, saw prices trading sideways.

Meanwhile, 783 votes were cast in online polls. Of these, 500 respondents, or 64%, looked for gold to rise next week. Another 169, or 22%, said it would be lower, while 114 voters, or 15%, were neutral in the near term.”

Also gaining for a second session, silver for March delivery settled up 6.5 cents, or 0.3%, to $23.935 an ounce. Silver prices fell 1.8% this week after rising 1.6% last week. Last Friday, silver at $24.372 an ounce registered its best settlement since April 21.

In PGM prices on Friday and for the week:

  • April platinum added $6.70, or 0.6%, to end at $1,047.80 an ounce, but slipped 2.3% on the week.

  • Palladium for March delivery fell $45.30, or 2.6%, to $1,723.20 an ounce, for a 3.6% weekly decline.

The two are lower on the year so far with losses of 3.2% for platinum and 4.2% for palladium.

US Mint Bullion Sales in 2023

Published United States Mint bullion sales showed lower results this week compared to last week. In week-over-week comparisons:

  • American Gold Eagles: 12,000 ounces against 131,500 ounces
  • American Gold Buffalos: 500 ounces compared to 44,000 ounces
  • American Silver Eagles: 500,000 ounces against 3,449,000

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Friday November December 2022 Sales Last Week This Week 2023 Sales
$50 American Eagle 1 Oz Gold Coin 0 6,000 4,000 850,000 90,000 11,000 101,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 75,000 34,000 1,000 35,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 140,000 50,000 2,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 575,000 115,000 0 115,000
$50 American Buffalo 1 Oz Gold Coin 0 4,500 0 410,000 44,000 500 44,500
$1 American Eagle 1 Oz Silver Coin 0 1,407,000 59,000 15,963,500 3,499,000 500,000 3,949,000
$100 American Eagle 1 Oz Platinum Coin 0 0 0 80,000 0 0 0



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