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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 4% and 3% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 6 February 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1235.70

-$34.50

-3.78%

Silver

$16.75

-$0.55

-2.95%

XAU

77.10

-5.08%

-3.06%

HUI

193.46

-5.43%

-4.14%

GDM

596.20

-4.93%

-3.29%

JSE Gold

1534.62

-14.51

+1.41%

USD

94.65

+1.16

-0.13%

Euro

113.19

-1.64

+0.27%

Yen

84.06

-1.05

-1.25%

Oil

$51.69

+$1.21

+7.15%

10-Year

1.938%

+0.123

+15.70%

Bond

147.6875

-1.1875

-2.60%

Dow

17824.29

-0.34%

+3.84%

Nasdaq

4744.39

-0.43%

+2.35%

S&P

2055.47

-0.34%

+3.03%

 
 

 

The Metals:

 

Gold fell $39.51 to $1230.69 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 2.72%.  Silver slipped to as low as $16.598 and ended with a loss of 3.18%.

 

Euro gold fell to about €1092, platinum lost $31 to $1220, and copper remained at about $2.59.

 

Gold and silver equities fell over 5% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Jan

257K

235K

329K

Unemployment Rate

Jan

5.7%

5.7%

5.6%

Hourly Earnings

Jan

0.5%

0.3%

-0.2%

Average Workweek

Jan

34.6

34.6

34.6

Consumer Credit

Dec

$14.8B

$15.0B

$13.5B

 

The BLS net birth/death adjustment subtracted 275,000 payrolls from January’s data. Private Payrolls rose 267,000.

 

All of this week’s other economic reports:

 

Productivity - Q4

-1.8% v. 3.7%

 

Unit Labor Costs - Q4

2.7% v. -2.3%

 

Trade Balance - December

-$46.6B v. -$39.8B

 

Initial Claims - 1/31

278K v. 267K

 

ISM Services - January

56.7 v. 56.5

 

ADP Employment - January

213K v. 253K

 

Factory Orders - December

-3.4% v. -0.7%

 

Construction Spending - December

0.4% v. -0.2%

 

ISM Index - January

53.5 v. 55.1

 

Personal Income - December

0.3% v. 0.3%

 

Personal Spending - December

-0.3% v. 0.5%

 

PCE Prices - Core - December

0.0% v. 0.0%

 

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

 

The Markets:

 

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

 

Oil rose along with the U.S. dollar index on better than expected jobs data that sent treasuries lower and the Dow, Nasdaq, and S&P higher for most of the morning, but stocks then fell back off into the close and ended with notable losses on worries about Greece.

 

Among the big names making news in the market Friday were Twitter, LinkedIn, GoPro, Expedia, Yelp, and EBay.

 

GATA Posts:

 

 

New York Sun: The Fed's right mind?

William Pesek: Is China preparing for currency war

Federal Reserve fires back at Rand Paul

Obituary and funeral details for Got Gold Report's Gene Arensberg

 

The Statistics:

 

Activity from: 2/5/2015

Gold Warehouse Stocks:

8,166,910.236

+707.30

Silver Warehouse Stocks:

177,946,488.977

-69,281.127

 

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

773.305

24,862,530

US$31,293m

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$5,484m

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 5.376 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 167.75: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,963.31: No change from yesterday’s data.

 

The Miners:

 

LOSERS

1.  Richmont

RIC -7.92% $3.14

2.  Yamana

AUY -7.81% $4.15

3.  Agnico Eagle

AEM -7.72% $31.58

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 2015

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, 6 February 2015 | E-Mail  | Print  | Source: GoldSeek.com

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