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

 -- Published: Friday, 3 October 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1191.80

-$22.00

-2.11%

Silver

$16.81

-$0.29

-4.65%

XAU

78.41

-3.94%

-6.60%

HUI

189.77

-4.47%

-5.57%

GDM

573.50

-4.03%

-5.49%

JSE Gold

1208.58

-37.75

-5.04%

USD

86.66

+1.00

+1.20%

Euro

125.13

-1.57

-1.36%

Yen

91.12

-1.12

-0.43%

Oil

$89.71

-$1.30

-3.98%

10-Year

2.447%

+0.009

-3.47%

Bond

139.25

+0.25

+1.16%

Dow

17009.69

+1.24%

-0.60%

Nasdaq

4475.62

+1.03%

-0.81%

S&P

1967.90

+1.12%

-0.75%

 
 

 

The Metals:

 

Gold fell $23.77 to as low as $1190.03 by early afternoon in New York before it bounced back higher at times, but it still ended with a loss of 1.81%.  Silver slipped to as low as $16.73 and ended with a loss of 1.7%.

 

Euro gold fell to about €953, platinum lost $41 to $1223, and copper remained at about $3.00.

 

Gold and silver equities fell about 4% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Sep

248K

210K

180K

Unemployment Rate

Sep

5.9%

6.1%

6.1%

Hourly Earnings

Sep

0.0%

0.2%

0.3%

Average Workweek

Sep

34.6

34.5

34.5

Trade Balance

Aug

-$40.1B

-$40.9B

-$40.3B

ISM Services

Sep

58.6

58.9

59.6

 

The BLS net birth/death adjustment subtracted 26,000 payrolls from September’s data. Private Payrolls rose 236,000.

 

All of this week’s other economic reports:

 

Factory Orders - August

-10.1% v. 10.5%

 

Initial Claims - 9/27

287K v. 295K

 

Construction Spending - August

-0.8% v. 1.2%

 

ISM Index - September

56.6 v. 59.0

 

ADP Employment - September

213K v. 202K

 

Consumer Confidence - September

86.0 v. 93.4

 

Chicago PMI - September

60.5 v. 64.3

 

Case-Shiller 20-city Index - July

6.7% v. 8.1%

 

Pending Home Sales - August

-1.0% v. 3.2%

 

PCE Prices - Core - August

0.1% v. 0.1%

 

Personal Spending - August

0.5% v. 0.0%

 

Personal Income - August

0.3% v. 0.2%

 

Next week’s economic highlights include Consumer Credit on Tuesday, FOMC Minutes on Wednesday, Initial Jobless Claims and Wholesale Inventories on Thursday, and Export and Import Prices and the Treasury Budget on Friday.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar index jumped higher on better than expected jobs data that sent the Dow, Nasdaq, and S&P higher.  Treasuries traded mixed.

 

Among the big names making news in the market Friday were Anadarko, JPMorgan, Facebook, UBS, and GM.

 

GATA Posts:

 

 

GATA Chairman Murphy interviewed at Toronto conference

Gold price suppression covered by Roberts in Sprott Money News interview

TF Metals Report: Deflation pervades markets until Fed renews QE

Koos Jansen: 39 tonnes of gold left New York Fed in July and August

Egon von Greyerz: Will gold referendum save the Swiss financial system?

 

The Statistics:

Activity from: 10/02/2014

Gold Warehouse Stocks:

9,138,519.962

-6,289.295

Silver Warehouse Stocks:

181,936,926.341

+528,892.40

 

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

767.468

24,674,849

US$29,472m

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$5,306m

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$428m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.04

1,222,979

US$1,509m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.196 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.40: -0.03 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,884.19: -4.71 change from yesterday’s data.

 

The Miners:

 

IAMGOLD’s (IAG) mine sale, Lake Shore’s (LSG) production results, and B2Gold’s (BTG) completed merger with Papillon were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Revett

RVM +1.82% $1.12

2.  Freeport

FCX +0.78% $32.32

 

LOSERS

1.  Gold Resource

GORO-11.91% $4.69

2.  Comstock

LODE -9.36% $1.11

3.  DRDGOLD

DRD -9.28% $3.03

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, 3 October 2014 | E-Mail  | Print  | Source: GoldSeek.com

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