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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 1% and 2% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 1 August 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1293.30

+$11.20

-1.08%

Silver

$20.34

-$0.03

-1.93%

XAU

99.91

+0.64%

-0.81%

HUI

237.15

+1.34%

-1.17%

GDM

725.79

+0.83%

-1.33%

JSE Gold

1475.20

-10.46

-1.96%

USD

81.34

-0.11

+0.38%

Euro

134.23

+0.34

-0.05%

Yen

97.49

+0.22

-0.73%

Oil

$97.50

-$0.67

-4.50%

10-Year

2.505%

-0.051

+1.46%

Bond

138.09375

+0.6875

-0.41%

Dow

16493.37

-0.42%

-2.75%

Nasdaq

4352.63

-0.39%

-2.18%

S&P

1925.15

-0.29%

-2.69%

 
 

 

The Metals:

 

Gold edged up to $1285.78 in Asia before it dropped back to $1280.48 just as this morning’s jobs data was released, but it then rose to a new session high of $1296.21 in the next couple of hours of trade and ended with a gain of 0.87%.  Silver rose to as high as $20.541 at one point, but it then fell back off into the close and ended with a loss of 0.15%.

 

Euro gold rose to about €964, platinum gained $3 to $1458, and copper fell slightly to about $3.22.

 

Gold and silver equities rose about 2% in the first ten minutes of trade before they fell back towards unchanged by midday, but they then bounced back higher in afternoon trade and ended with about 1% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

July

209K

220K

298K

Unemployment Rate

July

6.2%

6.1%

6.1%

Hourly Earnings

July

0.0%

0.2%

0.2%

Average Workweek

July

34.5

34.5

34.5

Personal Income

June

0.4%

0.4%

0.4%

Personal Spending

June

0.4%

0.4%

0.3%

PCE Prices - Core

June

0.1%

0.2%

0.2%

Michigan Sentiment

July

81.8

82.0

81.3

ISM Index

July

57.1

55.9

55.3

Construction Spending

June

-1.8%

0.3%

0.8%

 

The BLS net birth/death adjustment added 80,000 payrolls to July’s data. Private Payrolls rose 198,000.

 

All of this week’s other economic reports:

 

Chicago PMI - July

52.6 v. 62.6

 

Employment Cost Index - Q2

0.7% v. 0.3%

 

Initial Claims - 7/26

302K v. 279K

 

GDP - Q2

4.0% v. -2.1%

 

Chain Deflator - Q2

2.0% v. 1.3%

 

ADP Employment - July

218K v. 281K

 

Consumer Confidence - July

90.9 v. 86.4

 

Case-Shiller 20-city Index - May

9.3% v. 10.8%

 

Pending Home Sales - June

-1.1% v. 6.0%

 

Next week’s economic highlights include Factory Orders and ISM Services on Tuesday, the Trade Balance on Wednesday, Initial Jobless Claims and Consumer Credit on Thursday, and Productivity and Wholesale Inventories on Friday.

 

The Markets:

 

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

 

Oil fell on signs of waning fuel demand along with ample supplies.

 

The U.S. dollar index dropped on today’s worse than expected jobs report that sent treasuries higher.

 

The Dow, Nasdaq, and S&P fell “amid growing concern about international credit markets.”

 

Among the big names making news in the market Friday were LinkedIn, P&G, Scientific Games, Tesla, Vivendi, Chevron, and GoPro.

 

The Statistics:

Activity from: 7/31/2014

Gold Warehouse Stocks:

8,684,253.763

-32,724.935

Silver Warehouse Stocks:

175,316,799.280

-1,325,211.45

 

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

801.844

25,780,078

US$33,273m

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$5,745m

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$464m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.89

1,346,780

US$1,744m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.66: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,014.63: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) activities in Mali, AngloGold’s (AU) outlook for asset sales, and Vista Gold’s (VGZ) second quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Alamos Gold

AGI +7.17% $9.57

2.  Eldorado

EGO +6.60% $7.91

3.  Tanzanian Royalty

TRX +6.55% $2.44

 

LOSERS

1.  Golden Minerals

AUMN -5.46% $1.125

2.  Great Panther

GPL -4.55% $1.26

3.  Coeur

CDE -3.21% $7.55

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.

 

 

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 -- Published: Friday, 1 August 2014 | E-Mail  | Print  | Source: GoldSeek.com

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