-- Posted Friday, 2 August 2013 | | Disqus
Please Note: Canadian markets will be closed on Monday for their Civic Holiday.
| Close | Gain/Loss | On Week |
Gold | $1307.70 | -$2.60 | -1.90% |
Silver | $19.82 | +$0.16 | -1.05% |
XAU | 94.18 | -2.01% | -6.63% |
HUI | 234.78 | -2.43% | -8.20% |
GDM | 706.15 | -2.22% | -7.14% |
JSE Gold | 1237.74 | -41.11 | -1.18% |
USD | 81.91 | -0.46 | +0.29% |
Euro | 132.87 | +0.76 | +0.10% |
Yen | 101.16 | +0.68 | -0.63% |
Oil | $106.94 | -$0.95 | +2.14% |
10-Year | 2.602% | -0.121 | +1.60% |
Bond | 133.59375 | +1.5625 | -0.88% |
Dow | 15658.36 | +0.19% | +0.64% |
Nasdaq | 3689.59 | +0.38% | +2.12% |
S&P | 1709.67 | +0.16% | +1.07% |
The Metals:
Gold fell $26.96 to $1283.34 just before this morning’s jobs report before it spiked up to $1318.18 just after the report was released, but it then chopped back lower into the close and ended with a loss of 0.2%. Silver slipped to $19.21 before it jumped to as high as $20.269 and then also fell back off, but it still ended with a gain of 0.81%.
Euro gold climbed back above €984, platinum rose $6.20 to $1443.70, and copper remained at about $3.16.
Gold and silver equities waffled near unchanged for most of the morning, but they then drifted back lower in afternoon trade and ended with over 2% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Nonfarm Payrolls | July | 162K | 175K | 188K |
Unemployment Rate | July | 7.4% | 7.5% | 7.6% |
Hourly Earnings | July | -0.1% | 0.2% | 0.4% |
Average Workweek | July | 34.4 | 34.5 | 34.5 |
Personal Income | June | 0.3% | 0.5% | 0.4% |
Personal Spending | June | 0.5% | 0.4% | 0.2% |
PCE Prices - Core | June | 0.2% | 0.2% | 0.1% |
Factory Orders | June | 1.5% | 2.2% | 3.0% |
The BLS net birth/death adjustment added 54,000 payrolls to July’s data. Private Payrolls rose 161,000.
All of this week’s other economic reports:
Next week’s economic highlights include ISM Services on Monday, the Trade Balance on Tuesday, Consumer Credit on Wednesday, Initial Jobless Claims on Thursday, and Wholesale Inventories on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell along with the U.S. dollar index on disappointing jobs data that sent treasuries higher.
The Dow, Nasdaq, and S&P fell markedly at the open, but they then climbed back to about unchanged by midday and ended with modest gains on expectations for continued stimulus from the fed.
Among the big names making news in the market Friday were Dell, BofA, CareFusion, Smiths Group, Pimco, Viacom, and Chevron.
GATA Posts:
Barrick Gold closing mines to curb output as price drops
Beyond the smoke and mirrors of LBMA data
Conclusion of interview with GATA's Murphy and GoldMoney's Macleod
Swaps probe finds banks manipulated rate at expense of retirees
The Statistics:
Activity from: 8/01/2013
Gold Warehouse Stocks: | 7,018,465.851 | -4,822.27 |
Silver Warehouse Stocks: | 164,543,427.175 | -137,366.05 |
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) AND Mexico Stock Exchange (BMV) | SPDR® Gold Shares | 921.045 | 29,612,520 | US$38,753m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,821m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$8,004m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$471m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.66 | 1,371,395 | US$1,803m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 6.31 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 178.85: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,401.04: -18.00 change from yesterday’s data.
The Miners:
Eldorado’s (EGO) second quarter results, Richmont’s (RIC) second quarter results, and Turquoise Hill’s (TRQ) sale of the Company's 50% interest in Altynalmas Gold Ltd were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Turquoise | TRQ +7.62% $4.80 |
2. Comstock | LODE +2.72% $1.89 |
3. Avino | ASM +1.57% $1.10 |
LOSERS
1. Northern Dynasty | NAK -6.09% $2.16 |
2. Allied Nevada | ANV -5.89% $5.91 |
3. New Gold | NGD -4.85% $6.67 |
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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-- Posted Friday, 2 August 2013 | Digg This Article | Source: GoldSeek.com