-- Posted Friday, 12 October 2012 | | Disqus
| Close | Gain/Loss | On Week |
Gold | $1754.40 | -$13.10 | -1.49% |
Silver | $33.48 | -$0.50 | -2.98% |
XAU | 184.90 | -1.81% | -3.46% |
HUI | 495.57 | -1.66% | -3.57% |
GDM | 1423.42 | -1.70% | -3.80% |
JSE Gold | 2525.36 | -19.88 | +4.87% |
USD | 79.67 | -0.12 | +0.39% |
Euro | 129.55 | +0.26 | -0.54% |
Yen | 127.59 | -0.05 | +0.37% |
Oil | $91.86 | -$0.21 | +2.20% |
10-Year | 1.663% | -0.012 | -3.98% |
Bond | 149.5625 | +0.3125 | +1.40% |
Dow | 13328.85 | +0.02% | -2.07% |
Nasdaq | 3044.11 | -0.17% | -2.94% |
S&P | 1428.59 | -0.30% | -2.21% |
The Metals:
Gold climbed up to $1773.02 in early New York trade, but it then fell back off into the close and ended near its midafternoon low of $1752.24 with a loss of 0.74%. Silver slipped to as low as $33.46 and ended with a loss of 1.47%.
Euro gold fell to about €1354, platinum lost $29.50 to $1649, and copper fell 5 cents to about $3.71.
Gold and silver equities fell over 1.5% by midafternoon and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
PPI | Sep | 1.1% | 0.8% | 1.7% |
Core PPI | Sep | 0.0% | 0.2% | 0.2% |
Michigan Sentiment | Oct | 83.1 | 78.5 | 78.3 |
Treasury Budget | Sep | $75.0B | $75.0B | -$62.8B |
All of this week’s other economic reports:
Next week’s economic highlights include Retail Sales, Empire Manufacturing, and Business Inventories on Monday, CPI, Net Long Term TIC Flows, Industrial Production, Capacity Utilization, and the NAHB Housing Market Index on Tuesday, Housing Starts and Building Permits on Wednesday, Initial Jobless Claims, the Philadelphia Fed, and Leading Economic Indicators on Thursday, and Existing Home Sales on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended slightly lower on a new report from the IEA estimating weaker oil demand.
The U.S. dollar index fell as the euro rose on hopes for a bailout for Spain.
Treasuries found slight gains on worries about Congress’ ability to tackle tax and spending measures before the end of the year.
The Dow, Nasdaq, and S&P waffled near unchanged and ended mixed on varied earnings reports.
Among the big names making news in the market Friday were JPMorgan, Wells Fargo, Samsung, Ecolab, and AMD.
The Commentary:
GATA Posts:
Eric Sprott will keynote 10th annual Silver Summit in Spokane Oct. 25-26
No solution for nations but investors can protect themselves, GATA chairman says
The Statistics:
Activity from: 10/11/2012
Gold Warehouse Stocks: | 11,205,430.003 | -22.11 |
Silver Warehouse Stocks: | 141,939,600.960 | -2,526,91.838 |
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 | 1340.521 | 43,099,107 | US$76,232m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 142.56 | 4,583,326 | US$8,099m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 154.12 | 4,955,182 | US$8,080m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$634m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.45 | 1,364,715 | US$2,214m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 205.07: -0.38 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,894.58: -25.6 change from yesterday’s data.
The Miners:
Gold Fields’ (GFI) guidance update and Buenaventura’s (BVN) contractor strike were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Loncor | LON +5.66% $1.12 |
2. Comstock | LODE+1.49% $2.72 |
3. Midway | MDW+1.25% $1.62 |
LOSERS
1. AuRico | AUQ -5.03% $7.18 |
2. Mines MGMT | MGN -4.44% $1.29 |
3. Exeter | XRA -4.20% $1.37 |
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
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© Gold Seeker 2012
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-- Posted Friday, 12 October 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 1.5% and 3% on the Week
