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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 1% and 3% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 14 November 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1190.70

+$28.90

+1.31%

Silver

$16.30

+$0.69

+3.56%

XAU

70.82

+6.18%

+2.59%

HUI

168.56

+6.93%

+2.44%

GDM

525.76

+5.90%

+2.74%

JSE Gold

992.37

-20.10

-2.63%

USD

87.53

-0.22

-0.06%

Euro

125.28

+0.53

+0.59%

Yen

86.02

-0.33

-1.44%

Oil

$75.20

+$1.00

-4.13%

10-Year

2.320%

-0.027

+0.35%

Bond

141.6875

+0.4375

-0.09%

Dow

17634.74

-0.10%

+0.35%

Nasdaq

4688.53

+0.18%

+1.21%

S&P

2039.82

+0.02%

+0.39%

 
 

 

The Metals:

 

Gold dropped $13.52 to $1148.28 by a little after 8:30AM EST, but it then jumped to as high as $1193.50 by early afternoon in New York and ended with a gain of 2.49%.  Silver surged to as high as $16.384 and ended with a gain of 4.42%.

 

Euro gold climbed back over €950, platinum gained $18 to $1211, and copper climbed 6 cents to about $3.05.

 

Gold and silver equities fell over 2% at the open, but they then rallied back higher for most of the rest of trade and ended with about 6% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Retail Sales

Oct

0.3%

0.3%

-0.3%

Retail Sales ex-auto

Oct

0.3%

0.2%

0.0%

Export Prices

Oct

-1.0%

-

-0.4%

Export Prices ex-ag.

Oct

-0.9%

-

-0.2%

Import Prices

Oct

-1.3%

-

-0.6%

Import Prices ex-oil

Oct

-0.2%

-

-0.1%

Michigan Sentiment

Nov

89.4

87.5

86.9

Business Inventories

Sep

0.3%

0.2%

0.1%

 

Fed's Bullard says sticking to interest rate and inflation forecasts  Reuters

 

All of this week’s other economic reports:

 

Treasury Budget - October

-$121.7B v. -$90.6B

 

Initial Claims - 11/08

290K v. 278K

 

Wholesale Inventories - September

0.3% v. 0.6%

 

Next week’s economic highlights include Empire Manufacturing, Industrial Production, and Capacity Utilization on Monday, PPI, the NAHB Housing Market Index, and Net Long-Term TIC Flows on Tuesday, Housing Starts, Building Permits, and FOMC Minutes on Wednesday, and Initial Jobless Claims, CPI, Existing Home Sales, the Philadelphia Fed survey, and Leading Economic Indicators on Thursday.

 

The Markets:

 

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

 

Oil rebounded from the last several weeks of notable losses.

 

The U.S. dollar index erased early gains and ended modestly lower as the euro rose on decent GDP data out of Germany and France.

 

Treasuries rose as the Dow, Nasdaq, and S&P waffled near unchanged in relatively quiet trade.

 

Among the big names making news in the market Friday were Hertz, Old Navy, Twitter, and Wells Fargo.

 

GATA Posts:

 

 

Ted Butler urges silver miners to stand up and fight market rigging

 

The Statistics:

Activity from: 11/13/2014

Gold Warehouse Stocks:

8,195,694.896

-4,496.45

Silver Warehouse Stocks:

178,088,036.423

+31,513.261

 

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

720.615

23,168,508

US$27,076m

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$5,221m

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$426m

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 subtracted 2.052 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 160.42: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,789.82: +62.59 change from yesterday’s data.

 

The Miners:

 

Freeport’s (FCX) completed note sale, B2Gold’s third quarter results, Silvercorp’s (SVM) dividend, and Pan American’s (PAAS) third quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  IAMGOLD

IAG +21.84% $2.12

2.  Allied Nevada

ANV +14.17% $1.37

3.  Coeur

CDE +12.89% $4.29

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, 14 November 2014 | E-Mail  | Print  | Source: GoldSeek.com

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