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GoldSeek Web

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

 -- Published: Friday, 9 May 2014 | Print  | Disqus 




On Week





















JSE Gold










































The Metals:


Gold climbed $5.04 to $1294.24 by a little before 8AM EST before it dropped back to $1285.54 in the next four and a half hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.04%.  Silver slipped to as low as $19.052 and ended with loss of 0.1%.


Euro gold rose to almost €937, platinum lost $7 to $1426, and copper climbed a couple of cents to about $3.08.


Gold and silver equities fell over 1% by midmorning before they rallied back higher at times, but they still ended with modest losses on the day.


The Economy:







Wholesale Inventories





JOLTS - Job Openings






All of this week’s other economic reports:


Initial Claims - 5/03
Consumer Credit - March
Productivity - Q1
Unit Labor Costs - Q1
Trade Balance - March
ISM Services - April


Next week’s economic highlights include the Treasury Budget on Monday, Retail Sales, Export and Import Prices, and Business Inventories on Tuesday, PPI on Wednesday, Initial Jobless Claims, CPI, Empire Manufacturing, Net Long-Term TIC Flows, Industrial Production, Capacity Utilization, the Philadelphia Fed, and the NAHB Housing Market Index on Thursday, and Housing Starts, Building Permits, and Michigan Sentiment on Friday.


The Markets:


Charts Courtesy of


Oil held near $100 a barrel on uncertainty about Ukraine heading into the weekend.


Pro-Russian Separatists in Ukraine Reject Putin's Call to Delay Vote WSJ


The U.S. dollar index found notable gains as the euro continued to fall on the possibility for action at the ECB’s next meeting.


Treasuries fell as the Dow, Nasdaq, and S&P erased early losses and ended slightly higher in quiet trade.


Among the big names making news in the market Friday were Credit Suisse, Apple, Gap, JPMorgan and Wells Fargo, Symantec, and Qualcomm.


GATA Posts:



Putin's export machine rolls right over sanctions, outcry

Alasdair Macleod: Inequality and Piketty


The Statistics:

Activity from: 5/08/2014

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




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


COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.02: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,320.26: No change from yesterday’s data.


The Miners:


AuRico’s (AUQ) director election, Claude’s (CGR) director election, Golden Star’s (GSS) director election, Gold Fields’ (GFI) AGM results, Comstock’s (LODE) priced public offering, Allied Nevada’s (ANV) increase to its revolving credit facility, Richmont’s (RIC) director election, and Rio Alto’s (RIOM) first quarter results were among the big stories in the gold and silver mining industry making headlines Friday.



1.  Comstock

LODE +5.56% $1.75

2.  Timmins

TGD +4.41% $1.42

3.  Allied Nevada

ANV +2.60% $3.16



1.  Silver Standard

SSRI-10.33% $8.42

2.  AuRico

AUQ -5.85% $3.86

3.  NovaGold

NG -5.35% $3.00

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 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. 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’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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