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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 2% and 4% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 31 January 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1244.90

+$1.90

-1.85%

Silver

$19.16

-$0.04

-3.77%

XAU

90.71

-0.49%

-2.13%

HUI

216.77

-0.11%

-1.29%

GDM

650.40

-0.27%

-0.87%

JSE Gold

1300.73

+34.87

+2.33%

USD

81.28

+0.20

+1.02%

Euro

134.87

-0.69

-1.41%

Yen

97.96

+0.60

+0.19%

Oil

$97.49

-$0.74

+0.88%

10-Year

2.668%

-0.025

-2.45%

Bond

133.875

+0.59375

+0.78%

Dow

15698.85

-0.94%

-1.14%

Nasdaq

4103.87

-0.47%

-0.59%

S&P

1782.59

-0.65%

-0.43%

 
 

 

The Metals:

 

Gold fell to $1238.62 in Asia before it rallied to as high as $1253.65 by a little after 8:30AM EST and then fell back off in the next six hours of trade, but it then bounced back higher into the close and ended with a gain of 0.15%.  Silver slipped to $19.087 before it rebounded to $19.474 and then also fell back off, but it ended with a loss of just 0.21%.

 

Euro gold rose to about €923, platinum lost $6 to $1374, and copper fell four cents to about $3.20.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

Dec

0.0%

0.2%

0.2%

Personal Spending

Dec

0.4%

0.2%

0.6%

PCE Prices - Core

Dec

0.1%

0.1%

0.1%

Employment Cost Index

Q4

0.5%

0.4%

0.4%

Chicago PMI

Jan

59.6

58.0

60.8

Michigan Sentiment

Jan

81.2

80.4

80.4

 

All of this week’s other economic reports:

 

Pending Home Sales - December

-8.7% v. -0.3%

 

GDP - Q4

3.2% v. 4.1%

 

Chain Deflator - Q4

1.3% v. 2.0%

 

Initial Claims - 1/25

348K v. 329K

 

Consumer Confidence - January

80.7 v. 77.5

 

Case-Shiller 20-city Index - November

13.7% v. 13.6%

 

Durable Goods - December

-4.3% v. 2.6%

 

Durable Goods -ex trans. - December

-1.6% v. 0.1%

 

New Home Sales - December

414K v. 445K

 

Next week’s economic highlights include the ISM Index and Construction Spending on Monday, Factory Orders on Tuesday, ADP Employment and ISM Services on Wednesday, Initial Jobless Claims, the Trade Balance, Productivity, and Unit Labor Costs on Thursday, and January’s jobs data and Consumer Credit on Friday.

 

The Markets:

 

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

 

Oil fell on worries about emerging markets that sent the U.S. dollar index higher.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell on poor earnings reports.

 

Among the big names making news in the market Friday were Chevron, Microsoft, Wal-Mart, Simon Property, Legg Mason, Google, and MasterCard.

 

GATA Posts:

 

 

Koos Jansen: January's gold offtake in Shanghai likely to set record

Paul Craig Roberts and Dave Kranzler: Why is the Fed tapering?

 

The Statistics:

Activity from: 12/30/2014

Gold Warehouse Stocks:

7,141,391.607

+160.75

Silver Warehouse Stocks:

179,408,694.852

-414,468.32

 

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

793.155

25,500,732

US$31,889m

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$5,515m

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$446m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.25

1,326,273

US$1,676m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.6 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.37: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,029.22: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Richmont

RIC +6.38% $1.50

2.  Allied Nevada

ANV +5.59% $4.91

3.  Avino

ASM +4.35% $1.68

 

LOSERS

1.  Newmont

NEM-10.37% $21.60

2.  Alexco

AXU -3.03% $1.60

3.  NovaGold

NG -2.35% $2.91

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

© Gold Seeker 2014

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.

 


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 -- Published: Friday, 31 January 2014 | E-Mail  | Print  | Source: GoldSeek.com

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