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

 -- Published: Friday, 12 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1222.10

-$3.00

+2.58%

Silver

$17.01

-$0.04

+4.42%

XAU

68.96

-1.83%

-1.70%

HUI

164.34

-1.71%

-1.01%

GDM

514.52

-1.85%

-1.17%

JSE Gold

1084.04

-2.76

+1.79%

USD

88.33

-0.25

-1.14%

Euro

124.58

+0.48

+1.37%

Yen

84.26

+0.09

+2.28%

Oil

$57.81

-$2.14

-12.20%

10-Year

2.103%

-0.075

-8.84%

Bond

146.9375

+1.40625

+2.82%

Dow

17280.83

-1.79%

-3.78%

Nasdaq

4653.59

-1.16%

-2.66%

S&P

2002.33

-1.62%

-3.52%

 
 

 

The Metals:

 

Gold edged up to $1227.25 at about 5AM EST before it dropped back to $1216.39 over the next five hours of trade, but it then bounced back higher in late morning New York trade and ended with a loss of just 0.25%.  Silver rose to as high as $17.205 before it also fell back off, but it ended with a loss of just 0.24%.

 

Euro gold fell to about €981, platinum lost $9 to $1226, and copper rose slightly to about $2.93.

 

Gold and silver equities drifted lower in afternoon trade and ended with almost 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Nov

-0.2%

-0.1%

0.2%

Core PPI

Nov

0.0%

-0.1%

0.2%

Michigan Sentiment

Dec

93.8

89.5

88.8

 

All of this week’s other economic reports:

 

Business Inventories - October

0.2% v. 0.3%

 

Export Prices - November

-1.0% v. -0.9%

 

Export Prices ex-ag. - November

-1.2% v. -0.8%

 

Import Prices - November

-1.5% v. -1.2%

 

Import Prices ex-oil - November

-0.2% v. -0.2%

 

Retail Sales - November

0.7% v. 0.5%

 

Retail Sales ex-auto - November

0.5% v. 0.4%

 

Initial Claims - 12/06

294K v. 297K

 

Treasury Budget - November

-$56.8B v. -$135.2B

 

Wholesale Inventories - October

0.4% v. 0.4%

 

Next week’s economic highlights include Empire Manufacturing, Industrial Production, Capacity Utilization, the NAHB Housing Market Index, and Net Long-Term TIC Flows on Monday, Housing Starts and Building Permits on Tuesday, CPI, the Current Account Balance, and a FOMC Rate Decision on Wednesday, and Initial Jobless Claims, the Philadelphia Fed, and Leading Economic Indicators on Thursday.

 

The Markets:

 

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

 

Oil fell on another reduced demand forecast from the IEA.

 

The U.S. dollar index fell and treasuries rose as the Dow, Nasdaq, and S&P dropped nearly 2% on concerns about slowing world economic growth.

 

Among the big names making news in the market Friday were Chrysler, Ford, Hortonworks, Tesla, and Caesars.

 

GATA Posts:

 

 

Replying to Suchecki, Jansen still doesn't think Chinese gold leasing can manipulate market

Peter Boehringer explains the German gold repatriation campaign

Bron Suchecki: Why WGC's India gold policy won't cut imports much

Rickards tells USA Watchdog's Hunter about manipulation of gold and everything else

Hugo Salinas Price: Interest rate suppression pushes wages down and unemployment up

 

The Statistics:

Activity from: 12/11/2014

Gold Warehouse Stocks:

7,905,636.208

-32.15

Silver Warehouse Stocks:

176,447,717.918

-491,721.715

 

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

725.748

23,333,520

US$28,390m

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$5,431m

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$438m

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 0.949 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.10: -0.27 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,648.28: No change from yesterday’s data.

 

The Miners:

 

Allied Nevada’s (ANV) closed offering, Midway’s (MDW) new CEO, International Tower Hill’s (THM) closed private placement, and Silver Standard’s (SSRI) addition of Mineral Resources at the Marigold mine were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Timmins

TGD +6.12% $1.04

2.  First Majestic

AG +5.49% $4.80

3.  IAMGOLD

IAG +2.39% $2.57

 

LOSERS

1.  Gold Resource

GORO-5.57% $3.27

2.  Freeport

FCX -5.13% $21.78

3.  McEwen

MUX -4.31% $1.11

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

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