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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Almost 2% and 5% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 7 February 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1267.10

+$9.70

+1.78%

Silver

$20.03

+$0.09

+4.54%

XAU

92.22

+3.14%

+1.66%

HUI

218.58

+2.72%

+0.83%

GDM

663.10

+2.94%

+1.95%

JSE Gold

1287.74

-3.60

-1.00%

USD

80.65

-0.24

-0.78%

Euro

136.35

+0.43

+1.10%

Yen

97.78

-0.19

-0.18%

Oil

$99.88

+$2.04

+2.45%

10-Year

2.675%

-0.027

+0.26%

Bond

133.28125

+0.25

-0.44%

Dow

15794.08

+1.06%

+0.61%

Nasdaq

4125.86

1.69%

+0.54%

S&P

1797.02

+1.33%

+0.81%

 
 

 

The Metals:

 

Gold spiked up to $1268.62 after this morning’s jobs report before it fell back to $1257.82 in the next hour of trade, but it then rallied back higher into the close and ended near its earlier high with a gain of 0.77%.  Silver surged to as high as $20.037 and ended with a gain of 0.45%.

 

Euro gold rose to about €929, platinum gained $6 to $1379, and copper climbed a couple of cents to about $3.24.

 

Gold and silver equities rose throughout most of trade and ended with about 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Jan

113K

175K

75K

Unemployment Rate

Jan

6.6%

6.7%

6.7%

Hourly Earnings

Jan

0.2%

0.2%

0.0%

Average Workweek

Jan

34.4

34.4

34.4

Consumer Credit

Dec

$18.8B

$11.5B

$12.4B

 

The BLS net birth/death adjustment subtracted 307,000 payrolls from January’s data. Private Payrolls rose 142,000.

 

All of this week’s other economic reports:

 

Productivity - Q4

3.2% v. 3.6%

 

Unit Labor Costs - Q4

-1.6% v. -2.0%

 

Initial Claims - 2/01

331K v. 351K

 

Trade Balance - December

-$38.7B v. -$34.6B

 

ISM Services - January

54.0 v. 53.0

 

ADP Employment - January

175K v. 227KP

 

Factory Orders - December

-1.5% v. 1.8%

 

Construction Spending - December

0.1% v. 0.8%

 

ISM Index - January

51.3 v. 56.5

 

Next week’s economic highlights include JOLTS Job Openings data and Wholesale Inventories on Tuesday, the Treasury Budget on Wednesday, Initial Jobless Claims, Retail Sales, and Business Inventories on Thursday, and Export and Import Prices, Industrial Production, Capacity Utilization, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil rose to the highest this year on more cold weather forecasts that raised demand expectations.

 

The U.S. dollar index fell and treasuries jumped higher on this morning’s worse than expected jobs data.

 

The Dow, Nasdaq, and S&P rose on thoughts that today’s poor jobs report was just due to bad weather.

 

Among the big names making news in the market Friday were Google, Merck, Apple, and Baytex Energy.

 

GATA Posts:

 

 

Is Bundesbank repatriating only 1 tonne per week for the next six years?

Germany's high court suspects that ECB bond buying is illegal

 

The Statistics:

Activity from: 2/06/2014

Gold Warehouse Stocks:

7,143,618.108

+36,708.31

Silver Warehouse Stocks:

181,755,485.892

+2,519,863.069

 

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

797.053

25,626,058

US$32,254m

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$5,607m

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$454m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.25

1,326,273

US$1,676m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,045.79: -44.89 change from yesterday’s data.

 

The Miners:

 

Vista Gold’s (VGZ) filing, Harmony’s (HMY) fatalities, and Bear Creek’s (BSM.V) Notice of Intent to Submit a Claim to Arbitration were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Tanzanian Royalty

TRX +10.71% $2.17

2.  Silver Standard

SSRI +10.02% $9.11

3.  Pretivm

PVG +8.11% $6.13

 

LOSERS

1.  Avino

ASM -4.50% $1.91

2.  Nevsun

NSU -1.55% $3.81

3.  Northern Dynasty

NAK -0.78% $1.27

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 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, 7 February 2014 | E-Mail  | Print  | Source: GoldSeek.com

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