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

 -- Published: Friday, 28 March 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1292.70

+$0.20

-3.02%

Silver

$19.79

+$0.04

-2.46%

XAU

93.35

+1.68%

-5.23%

HUI

224.81

+1.59%

-4.77%

GDM

668.63

+1.57%

-5.21%

JSE Gold

1468.70

+37.19

-6.69%

USD

80.17

+0.03

+0.10%

Euro

137.54

+0.13

-0.30%

Yen

97.27

-0.60

-0.64%

Oil

$101.67

+$0.39

+2.22%

10-Year

2.712%

+0.040

-1.38%

Bond

133.40625

-0.8125

-0.12%

Dow

16323.06

+0.36%

+0.12%

Nasdaq

4155.75

+0.11%

-2.83%

S&P

1857.62

+0.46%

-0.47%

 
 

 

The Metals:

 

Gold climbed $6.19 to $1298.69 at about 4AM EST before it fell back to a new 6-week low of $1285.81 in the next six hours of trade, but it then bounced back higher into the close and ended with a gain of 0.02%.  Silver slipped to as low as $19.649 before it also bounced back higher and ended with a gain of 0.2%.

 

Euro gold remained at about €940, platinum gained $9.70 to $1404.70, and copper climbed 4 cents to about $3.04.

 

Gold and silver equities rose about 2% in the first hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

Feb

0.3%

0.2%

0.3%

Personal Spending

Feb

0.3%

0.3%

0.2%

PCE Prices - Core

Feb

0.1%

0.1%

0.1%

Michigan Sentiment

Mar

80.0

80.0

79.9

 

Fed's Evans sees no rate rise before mid-2015 Reuters

U.S. Jobs, GM Recall, Japan, ECB: Week Ahead March 29-April 5 Bloomberg

 

All of this week’s other economic reports:

 

Pending Home Sales - February

-0.8% v. -0.2%

 

GDP - Q4

2.6% v. 2.4%

 

GDP Deflator - Q4

1.6% v. 1.6%

 

Initial Claims - 3/22

311K v. 321K

 

Durable Goods - February

2.2% v. -1.3%

 

Durable Goods -ex trans. - February

0.2% v. 0.9%

 

New Home Sales - February

440K v. 455K

 

Consumer Confidence - March

82.3 v. 78.3

 

FHFA Housing Price Index - January

0.5% v. 0.7%

 

Case-Shiller 20-city Index - January

13.2% v. 13.4%

 

Next week’s economic highlights include Chicago PMI on Monday, the ISM Index and Construction Spending on Tuesday, ADP Employment and Factory Orders on Wednesday, Initial Jobless Claims, the Trade Balance, and ISM Services on Thursday, and March’s jobs data on Friday.

 

The Markets:

 

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

 

Oil rose on decent economic data and worries about Russia.

 

The U.S. dollar index ended slightly higher in mixed trade.

 

Treasuries fell as the Dow, Nasdaq, and S&P climbed to see notable gains in the first hour of trade, but the major indices then drifted back lower in afternoon trade and ended with only modest gains.

 

Among the big names making news in the market Friday were GM, BMW, BofA, Caesars, Blackberry, and Toronto-Dominion.

 

GATA Posts:

 

 

Gold market manipulation update, March 2014

Gold manipulation is now so obvious it should embarrass the manipulators, Rickards says

IMF bailout of Ukraine is actually rescue of Western investment houses and Russian banks

 

The Statistics:

Activity from: 3/27/2014

Gold Warehouse Stocks:

7,699,096.213

+31,924.951

Silver Warehouse Stocks:

179,681,898.476

-1,158,511.68

 

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

816.972

26,266,458

US$33,995m

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$5,743m

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$464m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.03

1,286,952

US$1,690m

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:

 

Newcrest’s (NCM.AX) bank loans, Rio Alto’s (RIOM) 2013 results, and Randgold’s resource base and production forecast were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Eurasian

EMXX +7.07% $1.06

2.  Avino

ASM +5.41% $1.56

3.  Paramount

PZG +4.84% $1.30

 

LOSERS

1.  Alamos

AGI -2.98% $9.11

2.  Rio Alto

RIOM -1.92% $2.04

3.  Great Panther

GPL -0.93% $1.06

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

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