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

 -- Published: Friday, 25 April 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1302.70

+$9.80

+0.60%

Silver

$19.71

+$0.04

+0.41%

XAU

93.31

+1.84%

+3.48%

HUI

226.47

+2.43%

+3.03%

GDM

670.71

+1.99%

+2.45%

JSE Gold

1564.43

+15.48

+4.38%

USD

79.76

-0.03

-0.13%

Euro

138.34

+0.03

+0.15%

Yen

97.90

+0.15

+0.29%

Oil

$100.60

-$1.34

-3.55%

10-Year

2.666%

-0.022

-2.02%

Bond

134.875

+0.34375

+0.84%

Dow

16361.46

-0.85%

-0.29%

Nasdaq

4075.56

-1.75%

-0.49%

S&P

1863.40

-0.81%

-0.08%

 
 

 

The Metals:

 

Gold climbed $12.06 to $1304.96 at about 10:30AM EST before it chopped back lower into midday, but it still ended with a gain of 0.76%.  Silver surged to as high as $19.803 and ended with a gain of 0.2%.

 

Euro gold rose to about €941, platinum gained $9.05 to $1416.75, and copper remained at about $3.10.

 

Gold and silver equities rose about 1.5% in the first half hour of trade before they pared their gains a bit into midday, but they then rose to new highs in the closing minutes of trade and ended with about 2% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Michigan Sentiment

Apr

84.1

82.6

82.6

 

U.S. services sector expands at slower pace in April Reuters

Yellen Concerned Fed Model Fails to Predict Price Moves Bloomberg

 

All of this week’s other economic reports:

 

Durable Goods - March

2.6% v. 2.1%

 

Durable Goods -ex trans. - March

2.0% v. 0.1%

 

Initial Claims - 4/19

329K v. 305K

 

New Home Sales - March

384K v. 449K

 

Existing Home Sales - March

4.59M v. 4.60M

 

FHFA Housing Price Index - February

0.6% v. 0.4%

 

Leading Indicators - March

0.8% v. 0.5%

 

Next week’s economic highlights include Pending Home Sales on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, ADP Employment, GDP, the Employment Cost Index, Chicago PMI, and a FOMC rate decision on Wednesday, Initial Jobless Claims, Personal Income and Spending, Core PCE Prices, the ISM Index, and Construction Spending on Thursday, and April’s jobs data and Factory Orders on Friday.

 

The Markets:

 

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

 

Oil fell on ample supply levels in the US.

 

The U.S. dollar index traded mostly lower on worries about Ukraine that sent treasuries higher and the Dow, Nasdaq, and S&P down roughly 1%.

 

Among the big names making news in the market Friday were Amazon, BofA, Ford, State Street, Kellogg, AbbVie, and Netflix.

 

GATA Posts:

 

 

Canadian bank CIBC starts selling real gold, not just paper

U.S. suits hobble Deutsche Bank's bid to sell gold fix seat

Will regulators and journalists ever dare to look behind the London gold fix banks?

Koos Jansen: Russia, Belarus, and Kazakhstan plan Eurasian currency union

 

The Statistics:

Activity from: 4/24/2014

Gold Warehouse Stocks:

7,991,301.135

-

Silver Warehouse Stocks:

176,093,008.537

-975,362.70

 

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

792.139

25,468,060

US$33,128m

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$5,776m

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$467m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.85

1,313,498

US$1,688m

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

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,282.78: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Tanzanian Royalty

TRX +5.69% $2.23

2.  Harmony

HMY +5.35% $3.34

3.  Sandstorm

SAND +4.93% $5.53

 

LOSERS

1.  Solitario

XPL -2.33% $1.08

2.  Buenaventura

BVN-1.91% $12.74

3.  Eurasian

EMXX-1.86% $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, 25 April 2014 | E-Mail  | Print  | Source: GoldSeek.com

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