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

 -- Published: Thursday, 17 April 2014 | Print  | Disqus 

Please Note: US Markets are closed tomorrow for Good Friday.

 

 

Close

Gain/Loss

On Week

Gold

$1294.90

-$8.20

-1.74%

Silver

$19.63

-$0.04

-1.60%

XAU

90.17

-0.72%

-2.68%

HUI

219.81

-0.92%

-2.89%

GDM

654.66

-0.88%

-2.89%

JSE Gold

1498.72

+1.68

-2.44%

USD

79.86

+0.03

+0.45%

Euro

138.13

-0.03

-0.50%

Yen

97.62

-0.18

-0.78%

Oil

$104.30

+$0.54

+0.54%

10-Year

2.721%

+0.084

+3.89%

Bond

133.75

-1.125

-0.79%

Dow

16408.54

-0.10%

+2.38%

Nasdaq

4095.51

+0.23%

+2.39%

S&P

1864.85

+0.14%

+2.71%

 
 

 

The Metals:

 

Gold fell to $1296.56 in Asia before it rebounded to $1304.09 in London, but it then fell to a new session low of $1293.29 in New York and ended with a loss of 0.63%.  Silver slipped to $19.51 before it bounced back to $19.724 and then also fell back off, but it ended with a loss of just 0.2%.

 

Euro gold fell to about €937, platinum lost $25.20 to $1408, and copper climbed a couple of cents to about $3.05.

 

Gold and silver equities waffled near unchanged and ended with modest losses.

 

The Economy:

 

All of this week’s economic reports:

 

Philadelphia Fed - April

16.6 v. 9.0

 

Initial Claims - 4/12

304K v. 302K

 

Capacity Utilization - March

79.2% v. 78.4%

 

Industrial Production - March

0.7% v. 1.2%

 

Building Permits - March

990K v. 1014K

 

Housing Starts - March

946K v. 920K

 

NAHB Housing Market Index - April

47 v. 46

 

Net Long-Term TIC Flows - February

$85.7B v. $7.7B

 

Empire Manufacturing - April

1.3 v. 5.6

 

CPI - March

0.2% v. 0.1%

 

Core CPI - March

0.2% v. 0.1%

 

Business Inventories - February

0.4% v. 0.4%

 

Retail Sales - March

1.1% v. 0.7%

 

Retail Sales ex-auto - March

0.7% v. 0.3%

 

Next week’s economic highlights include Leading Indicators on Monday, the FHFA Housing Price Index and Existing Home Sales on Tuesday, New Home Sales on Wednesday, Initial Jobless Claims and Durable Goods Orders on Thursday, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil traded mostly higher on worries about Ukraine over the long weekend.

 

The U.S. dollar index reversed early losses and treasuries fell “after the United States, Russia, Ukraine and the European Union issued a joint statement calling for the end of violence in eastern Ukraine.”

 

The Dow, Nasdaq, and S&P waffled near unchanged on mixed earnings reports.

 

Among the big names making news in the market today were UnitedHealth, Travelocity, DuPont, IBM, Philip Morris, Schlumberger, Google, PepsiCo, GE, Goldman Sachs, Morgan Stanley, Weibo, BlackRock, and Post Holdings.

 

GATA Posts:

 

 

Asia takes every ounce West unloads but gold will fall for two years, GFMS says

Paper gold falls in West but premium for real metal jumps in India

Conspiracy fact: Top central bankers meet secretly every six weeks at BIS

 

The Statistics:

Activity from: 4/16/2014

Gold Warehouse Stocks:

7,917,588.035

-353.61

Silver Warehouse Stocks:

176,793,648.453

-802,042.93

 

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

798.431

25,670,352

US$33,336m

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$5,773m

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$465m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.38

1,298,209

US$1,685m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 8.389 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.41: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,228.97: No change from yesterday’s data.

 

The Miners:

 

AuRico’s (AUQ) Advance Notice By-Law, Timberline’s (TLR) amended agreement with Wolfpack (WFP.V), Santacruz Silver’s (SCZ.V) first quarter production results, and Avino’s (ASM) fourth quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Turquoise

TRQ +7.38% $3.84

2.  Almaden

AAU +6.20% $1.37

3.  Comstock

LODE +2.42% $1.69

 

LOSERS

1.  Mag Silver

MVG -7.49% $6.55

2.  Solitario

XPL -5.74% $1.15

3.  Avino

ASM -4.29% $1.56

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: Thursday, 17 April 2014 | E-Mail  | Print  | Source: GoldSeek.com

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