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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 1% and 2% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 27 February 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1211.10

+$2.70

+0.84%

Silver

$16.57

+$0.03

+2.09%

XAU

76.85

+1.35%

+3.13%

HUI

192.11

+1.43%

+3.88%

GDM

590.05

+1.30%

+3.46%

JSE Gold

1381.62

+24.51

+0.96%

USD

95.28

-0.02

+1.00%

Euro

111.92

-0.07

-1.67%

Yen

83.60

-0.16

-0.45%

Oil

$49.76

+$1.59

-1.15%

10-Year

2.002%

-0.014

-6.14%

Bond

146.90625

+0.09375

+1.86%

Dow

18132.70

-0.45%

-0.04%

Nasdaq

4963.52

-0.49%

+0.15%

S&P

2104.50

-0.30%

-0.27%

 
 

 

The Metals:

 

Gold edged down to $1204.71 in late Asian trade before it climbed up to $1219.32 in late morning New York trade and then fell back off into the close, but it still ended with a gain of 0.22%.  Silver rose to as high as $16.697 and ended with a gain of 0.18%.

 

Euro gold rose to about €1082, platinum gained $13 to $1185, and copper remained at about $2.69.

 

Gold and silver equities rose over 2% by late morning before they drifted back lower in afternoon trade, but they still ended with over 1% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

GDP

Q4

2.2%

2.1%

2.6%

GDP Deflator

Q4

0.1%

0.0%

0.0%

Chicago PMI

Feb

45.8

58.0

59.4

Michigan Sentiment

Feb

95.4

94.0

93.6

Pending Home Sales

Jan

1.7%

2.4%

-1.5%

 

All of this week’s other economic reports:

 

FHFA Housing Price Index - December

0.8% v. 0.7%

 

Initial Claims - 2/21

313K v. 282K

 

Durable Goods - January

2.8% v. -3.7%

 

Durable Goods -ex trans. - January

0.3% v. -0.9%

 

CPI - January

-0.7% v. -0.3%

 

Core CPI - January

0.2% v. 0.1%

 

New Home Sales - January

481K v. 482K

 

Consumer Confidence - February

96.4 v. 103.8

 

Case-Shiller 20-city Index - December

4.5% v. 4.3%

 

Existing Home Sales - January

4.82M v. 5.07M

 

Next week’s economic highlights include Personal Income and Spending, Core PCE Prices, the ISM Index, and Construction Spending on Monday, ADP Employment, ISM Services, and the fed’s Beige Book on Wednesday, Initial Jobless Claims, Productivity, Unit Labor Costs, and Factory Orders on Thursday, and February’s jobs data, the Trade Balance, and Consumer Credit on Friday.

 

The Markets:

 

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

 

Oil traded mostly higher after “Baker Hughes reported that the number of U.S. rigs actively drilling for oil and natural gas as of Feb. 27 fell 43 rigs to 1,267.”

 

The U.S. dollar index held near unchanged along with treasuries on mixed economic data that sent the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market Friday were Hyflux, Warren Buffet, Apple, and J.C. Penney

 

GATA Posts:

 

 

Brien Lundin: Don't expect much from Justice probe of gold market rigging

 

The Statistics:

Activity from: 2/26/2015

Gold Warehouse Stocks:

8,337,589.352

+217.76

Silver Warehouse Stocks:

176,895,203.150

-

 

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

771.249

24,796,426

US$30,091m

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$5,410m

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$435m

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: 166.43: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,131.48: No change from yesterday’s data.

 

The Miners:

 

Banro’s (BAA) financing, Richmont’s (RIC) COO resignation, and Buenaventura’s (BVN) year end results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Buenaventura

BVN +6.53% $11.58

2.  Eldorado

EGO +4.88% $5.80

3.  Coeur

CDE +4.47% $5.84

 

LOSERS

1.  Allied Nevada

ANV -2.91% $1.00

2.  Alamos Gold

AGI -2.10% $6.05

3.  Seabridge

SA -1.40% $7.77

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

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