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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 3% and 5% on the Week
By: Chris Mullen, Gold-Seeker.com

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

 

Close

Gain/Loss

On Week

Gold

$1332.90

+$5.90

-3.48%

Silver

$20.29

UNCH

-5.23%

XAU

98.50

-0.04%

-7.25%

HUI

236.06

-0.27%

-8.60%

GDM

705.39

-0.18%

-8.04%

JSE Gold

1574.00

+3.26

-4.79%

USD

80.09

-0.12

+0.83%

Euro

137.95

+0.17

-0.81%

Yen

97.90

+0.27

-0.84%

Oil

$99.46

+$0.56

+0.58%

10-Year

2.750%

-0.025

+3.97%

Bond

133.5625

+0.625

-1.11%

Dow

16302.70

-0.17%

+1.48%

Nasdaq

4276.78

-0.98%

+0.74%

S&P

1866.40

-0.30%

+1.37%

 
 

 

The Metals:

 

Gold climbed $15.27 to $1342.27 at about 7AM EST before it fell back off in New York, but it still ended with a gain of 0.44%.  Silver rose to as high as $20.579 at one point, but it then fell back off and ended unchanged on the day.

 

Euro gold rose to about €966, platinum gained $2.30 to $1432.00, and copper climbed slightly to about $2.95.

 

Gold and silver equities rose over 1% at the open, but they then drifted back lower for most of the rest of trade and ended with minor losses.

 

The Economy:

 

Fed Signals Curb Bond Sales in U.S. to Slowest Pace in 11 Weeks Bloomberg

Volcker Rule Will Cost Banks Up to $4.3 Billion, OCC Says Bloomberg

Fed's Kocherlakota blasts new rate guidance Reuters

 

All of this week’s economic reports:

Leading Indicators - February

0.5% v. 0.1%

Philadelphia Fed - March

9.0 v. -6.3

Existing Home Sales - February

4.60M v. 4.62M

Initial Claims - 3/15

320K v. 315K

Current Account Balance - Q4

-$81.1B v. -$96.4B

Net Long-Term TIC Flows - January

$7.3B b. -$45.9B

CPI - February

0.1% v. 0.1%

Core CPI - February

0.1% v. 0.1%

Building Permits - February

1018K v. 945K

Housing Starts - February

907K v. 909K

NAHB Housing Market Index - March

47 v. 46

Capacity Utilization - February

78.8% v. 78.5%

Industrial Production - February

0.6% v. -0.2%

Empire Manufacturing - March

5.6 v. 4.5

 

Next week’s economic highlights include the Case-Shiller 20-city Index, the FHFA Housing Price Index, Consumer Confidence, and New Home Sales on Tuesday, Durable Goods Orders on Wednesday, Initial Jobless Clams, GDP, and Pending Home Sales on Thursday, and Personal Income and Spending, Core PCE Prices, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil rose on worries about Ukraine over the weekend.

 

The U.S. dollar index saw slight losses on profit taking.

 

Treasuries gained on Kocherlakota’s dissention to the fed’s recent guidance change.

 

The Dow, Nasdaq, and S&P erased early gains and ended lower on uncertainty about future fed actions.

 

Among the big names making news in the market Friday were Symantec, Endocyte, GM, Tesco, Tiffany, Nike, Media General, and WellPoint.

 

GATA Posts:

 

 

Sinclair to hold gold market seminar in Hong Kong on March 26

Official gold market to open in South Korea

China gold researcher Koos Jansen's Internet site under attack

Tumbling Chinese yuan sets off 'carry trade' rout, triggers derivatives contracts

China gold market researcher Koos Jansen interviewed by GoldSwitzerland

 

The Statistics:

Activity from: 3/20/2014

Gold Warehouse Stocks:

7,295,567.131

+160,750.00

Silver Warehouse Stocks:

182,545,500.530

-302,242.18

 

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

812.776

26,131,551

US$34,901m

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$5,931m

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$479m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.03

1,287,107

US$1,783m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.14: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,164.74: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Northern Dynasty

NAK +18.29% $1.10

2.  McEwen

MUX +7.87% $2.88

3.  Mines Management

MGN +6.15% $1.38

 

LOSERS

1.  Tanzanian Royalty

TRX -9.79% $2.12

2.  Seabridge

SA -8.56% $8.01

3.  Almaden

AAU -5.41% $1.40

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

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