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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 2% and 5% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 5 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1191.40

-$14.90

+2.09%

Silver

$16.29

-$0.17

+5.51%

XAU

70.15

-1.83%

+2.57%

HUI

166.01

-2.61%

+1.98%

GDM

520.59

-2.33%

+1.87%

JSE Gold

1064.94

-27.00

-0.15%

USD

89.35

+0.73

+1.20%

Euro

122.90

-0.89

-1.20%

Yen

82.38

-1.11

-2.29%

Oil

$65.84

-$0.97

-0.47%

10-Year

2.307%

+0.050

+5.15%

Bond

142.90625

-0.375

-0.93%

Dow

17958.79

+0.33%

+0.73%

Nasdaq

4780.75

+0.24%

-0.23%

S&P

2075.37

+0.17%

+0.38%

 
 

 

The Metals:

 

Gold edged up to $1207.47 at about 8:15AM EST before it dropped to $1187.20 just after this morning’s jobs report was released and then bounced back higher at times, but it still ended with a loss of 1.24%.  Silver slipped to as low as $16.22 and ended with a loss of 1.03%.

 

Euro gold fell to about €969, platinum lost $13 to $1221, and copper fell slightly to about $2.91.

 

Gold and silver equities fell about 3% in the first fifteen minutes of trade before they rallied back higher in late morning trade, but the still ended with about 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Nov

321K

230K

243K

Unemployment Rate

Nov

5.8%

5.8%

5.8%

Hourly Earnings

Nov

0.4%

0.2%

0.1%

Average Workweek

Nov

34.6

34.6

34.5

Trade Balance

Oct

-$43.4B

-$42.0B

-$43.6B

Factory Orders

Oct

-0.7%

0.2%

-0.5%

Consumer Credit

Oct

$13.2B

$16.5B

$15.4B

 

The BLS net birth/death adjustment added 8,000 payrolls to November’s data. Private Payrolls rose 314,000.

 

All of this week’s other economic reports:

 

Initial Claims - 11/29

297K v. 314K

 

ISM Services - November

59.3 v. 57.1

 

Productivity - Q3

2.3% v. 2.0%

 

Unit Labor Costs - Q3

-1.0% v. 0.3%

 

ADP Employment - November

208K v. 233K

 

Construction Spending - October

1.1% v. -0.1%

 

ISM Index - November

58.7 v. 59.0

 

Next week’s economic highlights include Wholesale Inventories on Tuesday, the Treasury Budget on Wednesday, Initial Jobless Claims, Retail Sales, Export and Import Prices, and Business Inventories on Thursday, and PPI and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil dropped as the U.S. dollar index rose and treasuries fell on better than expected jobs data that sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market Friday were Starbucks, Burger King, and Cadillac.

 

GATA Posts:

 

 

Koos Jansen: World Gold Council increases estimate of Chinese gold demand

Zero Hedge: Draghi says we have nothing to fear but gold buying itself

 

The Statistics:

Activity from: 12/04/2014

Gold Warehouse Stocks:

7,727,621.537

-133,498.566

Silver Warehouse Stocks:

177,733,534.537

+411,771.54

 

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

720.018

23,149,288

US$27,625m

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$5,297m

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$427m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.40

1,234,459

US$1,506m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.79: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,737.66: No change from yesterday’s data.

 

The Miners:

 

Allied Nevada’s (ANV) operational update and Freeport’s (FCX) cash tender offer were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Fortuna

FSM +2.63% $4.30

2.  Nevsun

NSU +1.59% $3.83

3.  SilverCrest

SVLC +1.55% $1.31

 

LOSERS

1.  Allied Nevada

ANV -11.54% $1.38

2.  Primero

PPP -6.10% $4.05

3.  DRDGOLD

DRD -4.69% $1.83

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, 5 December 2014 | E-Mail  | Print  | Source: GoldSeek.com

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