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Gold Seeker Weekly Wrap-Up: Gold and Silver End Modestly Higher on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 21 February 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1323.50

-$0.20

+0.37%

Silver

$21.81

-$0.02

+1.68%

XAU

102.88

-0.48%

+0.88%

HUI

245.62

-0.34%

+1.17%

GDM

736.75

-0.29%

+0.99%

JSE Gold

1534.37

+34.31

+1.75%

USD

80.27

-0.01

+0.19%

Euro

137.39

+0.20

+0.29%

Yen

97.53

-0.22

-0.72%

Oil

$102.20

-$0.55

+1.89%

10-Year

2.734%

-0.020

-0.44%

Bond

133.15625

+0.4375

+0.14%

Dow

16103.30

-0.19%

-0.32%

Nasdaq

4263.41

-0.10%

+0.46%

S&P

1836.25

-0.19%

-0.13%

 
 

 

The Metals:

 

Gold fell $7.46 to $1316.24 in Asia before it rebounded to $1325.23 by a little after 8AM EST and end then dropped back to $1319.36 in the next few hours of trade, but it then climbed to a new session high of $1328.04 in afternoon trade and ended with a loss of just 0.02%.  Silver slipped to $21.59 in Asia, but it then rose to as high as $21.936 in New York and ended with a loss of just 0.09%. 

 

Euro gold fell towards €963, platinum gained $11 to $1425, and copper remained at about $3.26.

 

Gold and silver equities fell over 1% by late morning before they rallied back higher in early afternoon trade, but they still ended with slight losses on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Existing Home Sales

Jan

4.62M

4.70M

4.87M

 

All of this week’s other economic reports:

 

Leading Indicators - January

0.3% v. 0.0%

 

Philadelphia Fed - February

-6.3 v. 9.4

 

CPI - January

0.1% v. 0.2%

 

Core CPI - January

0.1% v. 0.1%

 

Initial Claims - 2/15

336K v. 339K

 

PPI - January

0.2% v. 0.1%

 

Core PPI - January

0.2% v. 0.2%

 

Building Permits - January

937K v. 991K

 

Housing Starts - January

888K v. 1048K

 

NAHB Housing Market Index - February

46 v. 56

 

Net Long-Term TIC Flows - December

-$45.9B v. -$28.0B

 

Empire Manufacturing - February

4.5 v. 12.5

 

Next week’s economic highlights include the Case-Shiller 20-city Index, the FHFA Housing Price Index, and Consumer Confidence on Tuesday, New Home Sales on Wednesday, Initial Jobless Claims and Durable Goods Orders on Thursday, and GDP, Chicago PMI, Michigan Sentiment, and Pending Home Sales on Friday.

 

The Markets:

 

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

 

Oil fell on warmer weather for much of the US that reduced demand expectations.

 

The U.S. dollar index ended slightly lower in mixed trade on poor housing data that sent treasuries higher.

 

The Dow, Nasdaq, and S&P ended slightly lower in mixed trade.

 

Among the big names making news in the market Friday were Dish, Fannie Mae, Juniper, Brookdale Senior Living and Emeritus, Hewlett-Packard, Allstate, and Groupon.

 

GATA Posts:

 

 

Peter Boehringer: More evasions from the Bundesbank on Germany's gold in the U.S.

 

The Statistics:

Activity from: 2/20/2014

Gold Warehouse Stocks:

7,165,262.418

+1,286.00

Silver Warehouse Stocks:

180,370,753.729

-65,463.95

 

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

795.610

25,579,642

US$33,838m

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$5,871m

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$475m

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: 164.24: +0.61 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,081.70: -68.81 change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) exploration results, Eldorado’s (EGO) 2013 results, and Avino’s (ASM) agreement for a brokered public offering were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Solitario

XPL +22.76% $1.51

2.  Turquoise

TRQ +5.59% $3.59

3.  Timmins

TGD +3.38% $1.53

 

LOSERS

1.  Avino

ASM -7.69% $2.40

2.  Northern Dynasty

NAK -6.21% $1.51

3.  Mines Management

MGN -4.84% $1.18

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

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