-- Published: Friday, 18 July 2014 | Print | Disqus
| Close | Gain/Loss | On Week |
Gold | $1310.50 | -$9.10 | -2.03% |
Silver | $20.85 | -$0.29 | -2.71% |
XAU | 101.33 | -0.46% | -2.04% |
HUI | 242.93 | -0.30% | -1.75% |
GDM | 743.97 | -0.05% | -1.54% |
JSE Gold | 1534.34 | +21.54 | -1.19% |
USD | 80.54 | +0.03 | +0.45% |
Euro | 135.24 | -0.02 | -0.62% |
Yen | 98.67 | -0.18 | -0.03% |
Oil | $103.13 | -$0.06 | +2.28% |
10-Year | 2.484% | +0.009 | -1.43% |
Bond | 138.09375 | -0.03125 | +0.48% |
Dow | 17100.18 | +0.73% | +0.92% |
Nasdaq | 4432.14 | +1.57% | +0.38% |
S&P | 1978.22 | +1.03% | +0.54% |
The Metals:
Gold fell $14.99 to $1304.61 in early New York trade before it bounced back higher in afternoon trade, but it still ended with a loss of 0.69%. Silver slipped to as low as $20.733 and ended with a loss of 1.37%.
Euro gold fell to about €9696, platinum lost $39 to $1458, and copper fell a few cents to about $3.19.
Gold and silver equities fell over 1% at the open and remained near that level for most of the day, but they then edged back higher into the close and ended with only modest losses.
The Economy:
Report | For | Reading | Expected | Previous |
Michigan Sentiment | July | 81.3 | 84.0 | 82.5 |
Leading Indicators | June | 0.3% | 0.5% | 0.7% |
All of this week’s other economic reports:
NAHB Housing Market Index - July | 53 v. 49 |
Next week’s economic highlights include CPI, the FHFA Housing Price Index, and Existing Home Sales on Tuesday, Initial Jobless Claims and New Home Sales on Thursday, and Durable Goods Orders on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil saw slight losses and the U.S. dollar index found modest gains as the yen fell with treasuries on easing geopolitical concerns.
The Dow, Nasdaq, and S&P rose on positive earnings reports.
Among the big names making news in the market Friday were AbbVie and Shire, GE, Facebook, Google, and IBM.
The Commentary:
“Gold Continuing to Closely Track the TIPS spread
Here is an updated chart. Note how the pair is moving almost exactly in unison. As inflation expectations subside, gold prices move lower. As they increase, gold prices move higher.
Incidentally, for those tracking the Euro currency, it bounced off of support near that stubborn 1.35 level once again. I find that most remarkable given the more hawkish tone of the Fed of late in regards to interest rates and the continued lackluster performance of the overall Eurozone economy.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Dallas radio program interviews GATA Chairman Murphy
The Statistics:
Activity from: 7/17/2014
Gold Warehouse Stocks: | 8,487,048.967 | +103,561.946 |
Silver Warehouse Stocks: | 174,360,523.200 | -999,492.74 |
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 | 803.340 | 25,828,189 | US$33,631m |
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$5,808m |
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$469m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 41.90 | 1,347,046 | US$1,769m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.694 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.06: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,038.52: No change from yesterday’s data.
The Miners:
WINNERS
1. Revett | RVM +6.06% $1.05 |
2. Golden Minerals | AUMN +1.53% $1.33 |
3. Harmony | HMY +1.23% $3.28 |
LOSERS
1. Great Panther | GPL -4.62% $1.24 |
2. Tanzanian Royalty | TRX -4.27% $2.24 |
3. McEwen | MUX -3.97% $2.90 |
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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-- Published: Friday, 18 July 2014 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 2% on the Week
