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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 1% on the Week
By: Chris Mullen, Gold-Seeker.com


-- Posted Friday, 16 November 2012 | | Disqus

 

 

Close

Gain/Loss

On Week

Gold

$1711.90

-$2.10

-1.10%

Silver

$32.25

-$0.33

-0.89%

XAU

165.66

+0.79%

-8.53%

HUI

440.85

+0.87%

-8.39%

GDM

1280.86

+0.93%

-8.42%

JSE Gold

2283.81

-14.11

-7.40%

USD

81.21

+0.13

+0.19%

Euro

127.41

-0.38

+0.24%

Yen

123.05

-0.17

-2.23%

Oil

$86.67

+$1.22

-0.46%

10-Year

1.574%

-0.015

-2.67%

Bond

152.21875

+0.15625

+0.39%

Dow

12588.31

+0.37%

-1.77%

Nasdaq

2853.13

+0.57%

-1.78%

S&P

1359.88

+0.48%

-1.45%

 
 

 

The Metals:

 

Gold fell $8.21 to $1705.79 at about 6:20AM EST before it rallied back higher in New York, but it still ended with a loss of 0.12%.  Silver slipped to as low as $32.057 and ended with a loss of 1.01%.

 

Euro gold rose to about €1344, platinum lost $11.50 to $1557.50, and copper fell slightly to about $3.45.

 

Gold and silver equities fell over 1% by late morning in New York, but they then turned back higher in afternoon trade and ended with almost 1% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Net Long-Term TIC Flows

Sep

$3.3B

-

$90.0B

Industrial Production

Oct

-0.4%

0.1%

0.2%

Capacity Utilization

Oct

77.8%

78.3%

78.2%

 

Hill leaders voice confidence in debt deal Yahoo

 

All of this week’s other economic reports:

 

Philadelphia Fed - November

-10.7 v. 5.7

 

Empire Manufacturing - November

-5.2 v. -6.2

 

CPI - October

0.1% v. 0.6%

 

Core CPI - October

0.2% v. 0.1%

 

Initial Claims - 11/10

439K v. 361K

 

Business Inventories - September

0.7% v. 0.6%

 

Retail Sales - October

-0.3% v. 1.3%

 

Retail Sales ex-auto - October

0.0% v. 1.2%

 

PPI - October

-0.2% v. 1.1%

 

Core PPI - October

-0.2% v. 0.0%

 

Treasury Budget - October

-$120.0B v. -$98.5B

 

Next week’s economic highlights include Existing Home Sales and the NAHB Housing Market Index on Monday, Housing Starts and Building Permits on Tuesday, and Initial Jobless Claims, Michigan Sentiment, and Leading Economic Indicators on Wednesday.

 

The Markets:

 

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

 

Oil rose on worries about escalating tension in the Middle East that sent the U.S. dollar index and treasuries higher.

 

The Dow, Nasdaq, and S&P reversed higher midday after House Speaker John Boehner said he had “constructive” talks with President Barack Obama about the budget.

 

Among the big names making news in the market Friday were Ruckus, Google, JPMorgan, Dell, Citigroup, and Hostess.

 

The Statistics:

Activity from: 11/15/2012

Gold Warehouse Stocks:

11,205,123.218

+3,925.88

Silver Warehouse Stocks:

141,982,716.884

+845,435.07

 

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

1339.616

43,069,992

US$73,761m

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

Gold Bullion Securities

140.12

4,504,869

US$7,719m

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

ETFS Physical Gold

157.20

5,054,130

US$8,242m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$615m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.45

1,364,715

US$2,214m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.315 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 212.77: +0.76 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,985.18: -45.17 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Gold Resource

GORO +6.29% $13.69

2.  Northern Dynasty

NAK +4.96% $3.60

3.  Paramount

PZG +4.59% $2.28

 

LOSERS

1.  Banro

BAA -4.92% $3.48

2.  Golden Star

GSS -3.51% $1.65

3.  Eurasian

EMXX-3.40% $1.99

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, 16 November 2012 | Digg This Article | Source: GoldSeek.com

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