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


-- Posted Friday, 23 March 2012 | | Disqus

 

 

Close

Gain/Loss

On Week

Gold

$1662.70

+$20.20

+0.16%

Silver

$32.13

+$0.71

-1.17%

XAU

177.10

+1.63%

-0.13%

HUI

473.42

+1.74%

-0.65%

GDM

1377.40

+1.90%

-0.35%

JSE Gold

2464.65

+32.55

+0.30%

USD

79.33

-0.37

-0.59%

Euro

132.68

+0.71

+0.77%

Yen

121.31

+0.16

+1.12%

Oil

$106.87

+$1.52

-0.18%

10-Year

2.237%

-0.038

-2.65%

Bond

137.875

+0.8125

UNCH

Dow

13080.73

+0.27%

-1.15%

Nasdaq

3067.92

+0.15%

+0.41%

S&P

1397.11

+0.31%

-0.50%

 
 

 

The Metals:

 

Gold steadily rose throughout most of world trade and ended near its late session high of $1666.22 with a gain of 1.23%.  Silver surged to as high as $32.26 and ended with a gain of 2.26%.

 

Euro gold fell to about €1255, platinum gained $4.50 to $1621.50, and copper gained 5 cents to about $3.81.

 

Gold and silver equities rose about 2% by midmorning and remained near that level for the rest of the day.

 

Mali coup could put gold miners at risk canada

Bullion strike on Day 7 deccanherald

 

The Economy:

 

Report

For

Reading

Expected

Previous

New Home Sales

Feb

313K

323K

318K

 

All of this week’s other economic reports:

 

Initial Claims - 3/17

348K v. 353K

 

FHFA Housing Price Index - January

0.0% v. 0.1%

 

Leading Indicators - February

0.7% v. 0.2%

 

Existing Home Sales - February

4.59M v. 4.63M

 

Building Permits - February

717K v. 682K

 

Housing Starts - February

698K v. 706K

 

NAHB Housing Market Index - March

28 v. 28

 

Next week’s economic highlights include Pending Home Sales on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, Durable Goods Orders on Wednesday, Initial Jobless Claims and GDP on Thursday, and Personal Income and Spending, Core PCE Prices, Chicago PMI, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil rose as the U.S. dollar index fell on easing worries about Europe.

 

Treasuries rose as the Dow, Nasdaq, and S&P held near unchanged on disappointing housing data.

 

Among the big names making news in the market Friday were BATS, Zynga, Credit Suisse, and US Airways.

 

GATA Posts:

 

 

Wall Street Journal misses the point about gold twice in one day

China and Australia in US$31 billion currency swap

 

The Statistics:

Activity from: 3/22/2012

Gold Warehouse Stocks:

11,408,690.210

-

Silver Warehouse Stocks:

135,850,575.600

+1,204,956,69

 

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

1282.693

41,239,868

US$68,600m

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

Gold Bullion Securities

119.15

3,830,754

US$6,361m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

126.23

4,058,350

US$6,985m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

472,596

US$760m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

39.75

1,277,936

US$2,090m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 7.554 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,726.99: No change from yesterday’s data.

 

The Miners:

 

United Silver’s (USC.TO) exploration and development plan was the only big story in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Solitario

XPL+10.53% $1.47

2.  Nevsun

NSU +8.92% $3.54

3.  Exeter

XRA +6.98% $2.76

 

LOSERS

1.  Avino

ASM -7.42% $2.12

2.  Comstock

LODE -2.67% $1.82

3.  Gold Reserve

GRZ -2.59% $3.01

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

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2012

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, 23 March 2012 | Digg This Article | Source: GoldSeek.com

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