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Gold Seeker Weekly Wrap-Up: Gold and Silver End Mixed on the Week
By: Chris Mullen, Gold-Seeker.com


-- Posted Friday, 20 August 2010 | Digg This ArticleDigg It! | | Source: GoldSeek.com

 

Close

Gain/Loss

On Week

Gold

$1227.30

-$5.50

+1.05%

Silver

$17.98

-$0.34

-0.61%

XAU

178.13

-0.65%

+3.32%

HUI

468.35

-0.60%

+3.18%

GDM

1420.60

-0.52%

+3.42%

JSE Gold

2464.88

-18.83

-0.18%

USD

83.06

+0.57

+0.16%

Euro

127.08

-1.11

-0.36%

Yen

116.74

-0.41

+0.74%

Oil

$73.46

-$0.97

-2.56%

10-Year

2.612%

+0.033

-2.83%

Bond

134.00

-0.34375

+1.52%

Dow

10213.62

-0.56%

-0.87%

Nasdaq

2179.76

+0.04%

+0.29%

S&P

1071.69

-0.37%

-0.70%

 
 

 

The Metals:

 

Gold fell as much as $10.65 to $1222.15 by about 10AM EST, but it then rallied back higher in the last few hours of trade and ended with a loss of just 0.45%.  Silver dropped all the way to $17.82 before it also bounced back higher in late trade, but it still ended with a loss of 1.86%.

 

Euro gold rose to about €966, platinum lost $13 to $1507, and copper fell a few cents to about $3.29.

 

Gold and silver equities fell over 2% at the open before they rallied back higher for most of the rest of the day, but they still ended with slight losses.

 

The Economy:

 

Nearly 50 percent leave Obama mortgage-aid program  Yahoo

Jobless rate drops in 18 states, rises in 14  Yahoo

North Dakota network gets $10.8M in stimulus money  Yahoo

And Now We're Headed For The GREATEST Depression, Says Gerald Celente  Yahoo

 

There were no major economic reports today.  All of this week’s previous economic reports:

 

Philadelphia Fed - August

-7.7 v. 5.1

 

Leading Indicators - July

0.1% v. -0.3%

 

Initial Claims - 8/14

500K v. 488K

 

Capacity Utilization - July

74.8% v. 74.1%

 

Industrial Production - July

1.0% v. -0.1%

 

PPI - July

0.2% v. -0.5%

 

Core PPI - July

0.3% v. 0.1%

 

Building Permits - July

565K v. 583K

 

Housing Starts - July

546K v. 537K

 

NAHB Housing Market Index - August

13 v. 14

 

Net Long-Term TIC Flows - June

$44.4B v. $35.3B

 

NY Fed - Empire Man. Index - August

7.10 v. 5.08

 

Next week’s economic highlights include Existing Home Sales on Tuesday, Durable Goods Orders and New Home Sales on Wednesday, Initial Jobless Claims on Thursday, and GDP and Michigan Sentiment on Friday.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

The U.S. dollar index rose as the euro fell after “comments by a senior European Central Bank official fuelled expectations for liquidity to remain ample and investors sold riskier assets on concerns of economic slowdown.”

 

Oil fell and treasuries rose on persistent worries about that economy that sent the Dow, Nasdaq, and S&P roughly 1% lower in morning trade, but an afternoon rally in the major indices left stocks mixed on the day while bonds reversed course and ended lower.

 

Among the big names making news in the market Friday were McDonald’s, Ford, Kraft, and Intel.

 

GATA Posts:

 

 

Douglas' 'Failure of Second London Gold Pool' published in Spanish

What were Bernanke and Geithner doing Wednesday afternoon?

Izabella Kaminska: Germany's defaulted gold bearer bond

Why can't those Nepalese women settle for a nice ETF?

 

The Statistics:

Activity from: 8/19/2010

Gold Warehouse Stocks:

10,900,858

-62,691

Silver Warehouse Stocks:

111,348,300

+365,584

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx)

SPDR® Gold Shares

1299.468

41,779,209

US$51,103m

London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse )

Gold Bullion Securities

125.96

4,049,720

US$4,969m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

475,660

US$561m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

49.36

1,587,055

US$1,933m

NASDAQ Dubai

Dubai Gold Securities

0.155

4,971

US$6m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.952 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 93.98: +0.46 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9151.03 - No change from yesterday’s data

 

The Miners:

 

There were no big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Almaden

AAU +9.35% $1.99

2.  Mag Silver

MVG+7.82% $7.31

3.  Banro

BAA +6.37% $1.67

 

LOSERS

1.  Rubicon

RBY -3.62% $4.26

2.  Taseko

TGB -3.52% $4.39

3.  Silver Standard

SSRI -2.46% $17.07

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

All of today's gold and silver stock news:

Metanor Renegotiates its Credit Facility - More
- August 20, 2010 | Item | ShareThis


Khan Files Formal Claim Against ARMZ - More
- August 20, 2010 | Item | ShareThis


Rio Cristal Resources Announces $2,800,000 Financing - More
- August 20, 2010 | Item | ShareThis


White Canyon Uranium Limited: Resignation of Executive Director - More
- August 20, 2010 | Item | ShareThis


Columbia Yukon Announces Non-Brokered Private Placement - More
- August 20, 2010 | Item | ShareThis


Wits Basin Announces China Global Mining Resources Capital Update - More
- August 20, 2010 | Item | ShareThis


Commencement of Cavan 2010 Exploration Program - More
- August 20, 2010 | Item | ShareThis


Aura Silver Extends Gold Corridor and Discovers New Base Metal Target, Greyhound Nunavut - More
- August 20, 2010 | Item | ShareThis


Magma Metals Limited: Large Gold Anomaly Defined at Griffins Find - More
- August 20, 2010 | Item | ShareThis


Silvore Fox Minerals Announces Airborne Geophysical Survey of Coxheath Property - More
- August 20, 2010 | Item | ShareThis


Prophecy Board Appointment - More
- August 20, 2010 | Item | ShareThis


Orvana Files Reserve Statement and Cash-Flow Model for Upper Mineralized Zone (UMZ) Cu-Au-Ag Deposit, Bolivia - More
- August 20, 2010 | Item | ShareThis


Panoro Minerals Ltd.: Results From Antilla Joint Venture Project in Peru Highlighted by 39.8 m at 0.85% Cu and 0.028% Mo - More
- August 20, 2010 | Item | ShareThis


Northland Receives the Environmental Permit for its Tapuli Mine and Kaunisvaara Mill - More
- August 20, 2010 | Item | ShareThis


Moly Mines Limited: Spinifex Ridge Iron Ore Mining Contract-Awarded - More
- August 20, 2010 | Item | ShareThis


Batero Gold Corp. Provides Exploration Program and Corporate Update - More
- August 20, 2010 | Item | ShareThis


Auryx Gold Announces the Addition of David Hodgson to its Board of Directors - More
- August 20, 2010 | Item | ShareThis


Pacific Rim Signs Binding Letter of Intent to Acquire Remance Project, Panama - More
- August 20, 2010 | Item | ShareThis


El Capitan Contracts with Expert in Extractive Metallurgy to Assist in the Company's Recovery Research Project - More
- August 20, 2010 | Item | ShareThis


Continental Gold Expands Senior Management Team and Appoints Executive Vice President - More
- August 20, 2010 | Item | ShareThis


CanAlaska Uranium Reports Drill Results From Collins Bay Extension Project - More
- August 20, 2010 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2010

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 


-- Posted Friday, 20 August 2010 | Digg This Article | Source: GoldSeek.com




 



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