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

 -- Published: Friday, 17 October 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1237.80

-$1.70

+1.15%

Silver

$17.28

-$0.10

-0.40%

XAU

77.07

-2.81%

-0.25%

HUI

187.01

-3.47%

-1.04%

GDM

573.73

-3.04%

-0.18%

JSE Gold

1126.45

-30.29

-3.12%

USD

85.20

+0.27

-0.81%

Euro

127.62

-0.47

+1.17%

Yen

93.56

-0.49

+0.78%

Oil

$83.02

+$0.32

-3.26%

10-Year

2.199%

+0.046

-4.68%

Bond

142.8125

-0.59375

+1.04%

Dow

16380.41

+1.63%

-0.99%

Nasdaq

4258.43

+0.97%

-0.42%

S&P

1886.76

+1.29%

-1.02%

 
 

 

The Metals:

 

Gold edged up to $1241.19 in Asia before it fell back to $1231.88 by midmorning in New York, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.14%.  Silver slipped to as low as $17.232 and ended with a loss of 0.58%.

 

Euro gold rose to about €970, platinum gained $9 to $1256, and copper climbed a couple of cents to about $3.00.

 

Gold and silver equities fell about 3% by early afternoon and remained near that level into the close.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Housing Starts

Sep

1017K

1013K

957K

Building Permits

Sep

1018K

1030K

1003K

Michigan Sentiment

Oct

86.4

84.0

84.6

 

Yellen ‘Greatly’ Concerned by Widening U.S Inequality  Bloomberg

 

All of this week’s other economic reports:

 

NAHB Housing Market Index - October

54 v. 59

 

Philadelphia Fed - October

20.7 v. 22.5

 

Capacity Utilization - September

79.3% v. 78.7%

 

Industrial Production - September

1.0% v. -0.2%

 

Initial Claims - 10/11

264K v. 287K

 

Treasury Budget - September

$105.8B v. $75.1B

 

Business Inventories - August

0.2% v. 0.4%

 

Empire Manufacturing - October

6.2 v. 27.5

 

PPI - September

-0.1% v. 0.0%

 

Core PPI - September

0.0% v. 0.1%

 

Retail Sales - September

-0.3% v. 0.6%

 

Retail Sales ex-auto - September

-0.2% v. 0.3%

 

Next week’s economic highlights include Existing Home Sales on Tuesday, CPI on Wednesday, Initial Jobless Claims, the FHFA Housing Price Index, and Leading Economic Indicators on Thursday, and New Home Sales on Friday.

 

The Markets:

 

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

 

Oil continued to bounce back from significant losses seen over the past few weeks.

 

The U.S. dollar index rose on decent economic data.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose nearly 2% on positive earnings reports and the outlook for more easy monetary policy from the world’s central banks.

 

Among the big names making news in the market Friday were Google, Goldman Sachs, Morgan Stanley, Synchrony, Honeywell, and GE.

 

GATA Posts:

 

 

China gold production seen falling, prompting more imports

 

The Statistics:

Activity from: 10/16/2014

Gold Warehouse Stocks:

9,006,797.008

-2,411.25

Silver Warehouse Stocks:

179,718,523.190

-1,716,910.92

 

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

760.935

24,464,818

US$30,272m

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$5,478m

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$443m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.40

1,234,459

US$1,506m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.794 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.40: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,717.20: No change from yesterday’s data.

 

The Miners:

 

Turquoise Hill’s (TRQ) treasury bill repayment, Richmont’s (RIC) new CEO, and Timmins Gold’s (TGD) third quarter production results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Revett

RVM +5.15% $1.02

2.  Richmont

RIC +0.83% $2.43

3.  Turquoise

TRQ +0.61% $3.31

 

LOSERS

1.  Allied Nevada

ANV -8.65% $2.43

2.  Avino

ASM -8.33% $1.43

3.  AuRico

AUQ -7.77% $3.56

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

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