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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Almost 2% and 4% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 13 June 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1276.90

+$3.10

+1.92%

Silver

$19.70

+$0.14

+3.52%

XAU

92.19

+0.47%

+6.37%

HUI

221.68

+0.09%

+6.45%

GDM

667.00

+0.55%

+6.58%

JSE Gold

1387.50

-21.06

+1.48%

USD

80.62

+0.08

+0.25%

Euro

135.38

-0.14

-0.76%

Yen

98.03

-0.25

+0.49%

Oil

$106.91

+$0.38

+4.14%

10-Year

2.604%

+0.018

+0.27%

Bond

136.375

-0.28125

+0.07%

Dow

16774.14

+0.24%

-0.89%

Nasdaq

4310.65

+0.30%

-0.25%

S&P

1936.05

+0.31%

-0.69%

 
 

 

The Metals:

 

Gold edged down $1270.92 in Asia before it shot up to $1277.13 at about 3AM EST and then dropped back to about unchanged in London, but it then rallied back higher in afternoon New York trade and ended near its late session low of $1277.88 with a gain of 0.24%.  Silver slipped back to $19.489 in London, but it then climbed to as high as $19.73 in New York and ended with a gain of 0.72%.

 

Euro gold rose to about €943, platinum fell $11 to $1428, and copper climbed a couple of cents to about $3.03.

 

Gold and silver equities traded slightly lower for most of the day, but they then rallied back higher in the last few hours of trade and ended with modest gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

May

-0.2%

0.2%

0.6%

Core PPI

May

-0.1%

0.1%

0.5%

Michigan Sentiment

June

81.2

82.9

81.9

 

All of this week’s other economic reports:

 

Business Inventories - April

0.6% v. 0.4%

 

Import Prices - May

0.1% v. -0.5%

 

Import Prices ex-oil - May

0.0% v. 0.1%

 

Export Prices - May

0.1% v. -1.0%

 

Export Prices ex-ag. - May

0.1% v. -1.4%

 

Retail Sales - May

0.3% v. 0.5%

 

Retail Sales ex-auto - May

0.1% v. 0.4%

 

Initial Claims - 6/07

317K v. 313K

 

Treasury Budget - May

-$130.0B v. -$138.7B

 

Wholesale Inventories - April

1.1% v. 1.1%

 

Next week’s economic highlights include Empire Manufacturing, Net Long-Term TIC Flows, Industrial Production, Capacity Utilization, and the NAHB Housing Market Index on Monday, Housing Starts, Building Permits, and CPI on Tuesday, the Current Account Balance and a FOMC rate decision on Wednesday, and Initial Jobless Claims, the Philadelphia Fed, and Leading Economic Indicators on Friday.

 

The Markets:

 

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

 

Oil found modest gains on worries about continued conflict in Iraq.

 

The U.S. dollar index rose on the outlook for higher interest rates that flattened the yield curve and drew mixed results from treasuries.

 

The Dow, Nasdaq, and S&P traded mostly slightly higher on decent earnings and deal making news.

 

Among the big names making news in the market Friday were Intel, GM, Boeing, and Priceline and Open Table.

 

GATA Posts:

 

 

Koos Jansen: Shanghai Gold Exchange chairman explains its objectives

Koos Jansen: March Indian gold imports highest in 10 months

If it ever asked the right question, the FT would make itself a contrarian indicator

Trace Mayer, James Turk discuss prospects for gold and private currencies

 

The Statistics:

Activity from: 6/12/2014

Gold Warehouse Stocks:

8,280,504.545

-996.65

Silver Warehouse Stocks:

176,163,925.539

-238,041.02

 

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

787.076

25,305,269

US$32,195m

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$5,657m

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$458m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.68

1,339,954

US$1,709m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.47: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,321.72: No change from yesterday’s data.

 

The Miners:

 

Centerra’s (CG.TO) mine plan approvals, Randgold’s (GOLD) directors’ awards, B2Gold’s (BTG) project update, Gold Fields’ (GFI) award, Rio Alto’s (RIOM) arrangement agreement with Sulliden (SUE.TO), and SilverCrest’s (SVLC) AGM results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  DRDGOLD

DRD +5.51% $2.87

2.  Alexco

AXU +4.67% $1.12

3.  Richmont

RIC +4.07% $1.28

 

LOSERS

1.  Great Panther

GPL -3.74% $1.03

2.  McEwen

MUX -3.66% $2.63

3.  IAMGOLD

IAG -2.72% $3.94

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, 13 June 2014 | E-Mail  | Print  | Source: GoldSeek.com

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