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GoldSeek Web

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

 -- Published: Friday, 24 October 2014 | Print  | Disqus 

Please Note: There will not be any Gold Seeker reports until Wednesday October 29th.





On Week





















JSE Gold










































The Metals:


Gold edged up to $1234.18 in Asia before it fell back to $1229.42 at about 11AM EST, but it then bounced back higher midday and ended with a loss of just 0.14%.  Silver climbed up to $17.356 in early New York trade before it dropped back to $17.145, but it ended with a loss of just 0.17%.


Euro gold fell to about €972, platinum lost $7 to $1246, and copper remained at about $3.03.


Gold and silver equities waffled near unchanged and ended slightly lower.


The Economy:







New Home Sales






All of this week’s other economic reports:


Leading Indicators - September

0.8% v. 0.0%


FHFA Housing Price Index - August

0.5% v. 0.2%


Initial Claims - 10/18

283K v. 266K


CPI - September

0.1% v. -0.2%


Core CPI - September

0.1% v. 0.0%


Existing Home Sales - September

5.17M v. 5.05M


Next week’s economic highlights include Pending Home Sales on Monday, Durable Goods Orders, the Case-Shiller 20-city Index, and Consumer Confidence on Tuesday, a FOMC Rate Decision on Wednesday, Initial Jobless Claims and GDP on Thursday, and Personal Income and Spending, Core PCE Prices, the Employment Cost Index, Chicago PMI, and Michigan Sentiment on Friday.


The Markets:


Charts Courtesy of


Oil fell on speculation that Saudi Arabia’s reduced output in September was not due to an actual cut in production.


The U.S. dollar index fell as the euro rose ahead of next week’s economic data.


Treasuries saw slight gains while the Dow, Nasdaq, and S&P drifted higher on mixed earnings reports.


Among the big names making news in the market Friday were P&G, Ford, Amazon, Microsoft, UPS, Comcast, Moody’s, Bristol-Myers, and Google.


GATA Posts:



Paying people their worth in gold -- a first in Singapore

Three major nations absent as China launches rival to Western development bank

First Majestic CEO wants silver miners to form counter-cartel against futures shorters

Foreign central banks cut U.S. bond stakes to lowest since May

MineWeb's Williams praises GATA consultant Jansen's work on China gold demand data

Chris Powell: The crucial questions financial journalism won't ask and central banks won't answer


The Statistics:

Activity from: 10/23/2014

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




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


COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.91: +0.51 change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,681.42: No change from yesterday’s data.


The Miners:


Randgold’s (GOLD) response to Mali’s first Ebola case and Turquoise Hill’s (TRQ) new director were among the big stories in the gold and silver mining industry making headlines Friday.




DRD +2.43% $2.95

2.  Coeur

CDE +2.18% $4.40

3.  Tahoe

TAHO +1.48% $21.20



1.  Sandstorm

SAND-5.22% $3.81

2.  Allied Nevada

ANV -4.17% $2.30

3.  Avino

ASM -4.14% $1.39

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 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. 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’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, 24 October 2014 | E-Mail  | Print  | Source:

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