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

 -- Published: Friday, 26 September 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1217.50

-$3.50

-0.01%

Silver

$17.63

+$0.11

-1.51%

XAU

83.95

-1.21%

-335%

HUI

200.96

-1.46%

-3.61%

GDM

606.79

-1.24%

-3.03%

JSE Gold

1272.75

+2.39

-3.17%

USD

85.63

+0.42

+1.06%

Euro

126.85

-0.65

-1.18%

Yen

91.51

-0.44

-0.34%

Oil

$93.43

+$0.90

+1.02%

10-Year

2.535%

+0.024

-2.01%

Bond

137.65625

0.15625

-0.18%

Dow

17113.15

+0.99%

-0.96%

Nasdaq

4512.19

+1.02%

-1.48%

S&P

1982.85

+0.86%

-1.37%

 
 

 

The Metals:

 

Gold climbed $9.29 to $1230.29 in Asia before it fell back to $1212.44 at about 10AM EST, but it then bounced back higher in late trade and ended with a loss of just 0.29%.  Silver waffled between $17.73 and $17.456 and ended with a gain of 0.63%.

 

Euro gold rose to about €960, platinum lost $11 to $1298, and copper remained at about $3.04.

 

Gold and silver equities fell a little over 1% in the first half hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

GDP

Q2

4.6%

4.6%

4.2%

GDP Deflator

Q2

2.1%

2.1%

2.1%

Michigan Sentiment

Sep

84.6

85.0

84.6

 

All of this week’s other economic reports:

 

Durable Goods - August

-18.2% v. 22.5%

 

Durable Goods -ex trans. - August

0.7% v. -0.5%

 

Initial Claims - 9/20

293K v. 281K

 

New Home Sales - August

504K v. 427K

 

FHFA Housing Price Index - July

0.1% v. 0.3%

 

Existing Home Sales - August

5.05M v. 5.14M

 

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

 

The Markets:

 

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

 

Oil rose along with the U.S. dollar index on steady economic data that sent treasuries lower and the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market Friday were Digital Ally, Ford, Pimco, BlackBerry, Finish Line, and Alibaba.

 

GATA Posts:

 

 

German gold demand way up; Hathaway cites sentiment; GoldCore sees intervention

Koos Jansen: New Shanghai exchange discourages exporting gold from China

Six banks in UK talks over forex manipulation fines

 

The Statistics:

Activity from: 9/25/2014

Gold Warehouse Stocks:

9,286,617.092

-96,450.00

Silver Warehouse Stocks:

183,380,409.431

+114,674.391

 

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

773.449

24,867,159

US$30,170m

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$5,395m

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$437m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.04

1,222,979

US$1,509m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.18: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,738.29: No change from yesterday’s data.

 

The Miners:

 

SilverCrest’s (SVLC) mine transition update and Silver Bull’s (SVBL) corporate update were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Midway

MDW +4.95% $1.06

2.  Revett

RVM +3.57% $1.13

3.  Turquoise

TRQ +3.54% $3.83

 

LOSERS

1.  Great Panther

GPL -5.26% $1.08

2.  Rio Alto

RIOM -4.96% $2.49

3.  Avino

ASM -4.58% $1.46

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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, 26 September 2014 | E-Mail  | Print  | Source: GoldSeek.com

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