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

 -- Published: Friday, 13 March 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1155.20

+$1.90

-0.90%

Silver

$15.57

UNCH

-1.89%

XAU

65.57

UNCH

-2.99%

HUI

160.65

-0.39%

-3.22%

GDM

502.07

UNCH

-3.40%

JSE Gold

1123.00

-48.77

-7.80%

USD

100.28

+1.02

+2.68%

Euro

104.83

-1.43

-3.36%

Yen

82.38

-0.06

-0.54%

Oil

$44.84

-$2.21

-9.61%

10-Year

2.112%

+0.016

-5.71%

Bond

145.6875

UNCH

+1.82%

Dow

17749.31

-0.82%

-0.60%

Nasdaq

4871.75

-0.44%

-1.13%

S&P

2053.40

-0.61%

-0.86%

 
 

 

The Metals:

 

Gold gained $8.26 to $1161.56 in Asia before it fell back to $1151.57 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.17%.  Silver rose to as high as $15.661 in Asia before it fell back to $15.484 and then also bounced back higher, but it still ended unchanged on the day.

 

Euro gold rose to about €1103, platinum remained at $1113, and copper climbed slightly to about $2.67.

 

Gold and silver equities fell as much as 3% by midmorning, but they then rallied back higher for most of the rest of trade and ended near unchanged.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Feb

-0.5%

0.3%

-0.8%

Core PPI

Feb

-0.5%

0.1%

-0.1%

Michigan Sentiment

Mar

91.2

95.8

95.4

 

Surprise! U.S. Economic Data Has Been the World's Most Disappointing Bloomberg

 

All of this week’s other economic reports:

 

Treasury Budget - February

-$192.3B v. -$193.5B

 

Business Inventories - January

0.0% v. 0.0%

 

Import Prices - February

0.4% v. -3.1%

 

Import Prices ex-oil - February

-0.3% v. -0.6%

 

Export Prices - February

-0.1% v. -1.9%

 

Export Prices ex-ag. - February

0.2% v. -2.0%

 

Retail Sales - February

-0.6% v. -0.8%

 

Retail Sales ex-auto - February

-0.1% v. -1.1%

 

Initial Claims - 3/12

289K v. 325K

 

Wholesale Inventories - January

0.3% v. 0.0%

 

JOLTS - Job Openings - January

4.998M v. 4.877M

 

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, Building Permits and Housing Starts on Tuesday, a FOMC Rate Decision on Wednesday, and Initial Jobless Claims, the Current Account Balance, the Philadelphia Fed, and Leading Indicators on Thursday.

 

The Markets:

 

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

 

Oil fell almost 5% more as the U.S. dollar index rose despite more poor economic data as traders focused on next week’s fed meeting and the possibility that they will alter their statement in a way that allows them to raise interest rates soon.

 

Treasuries held near unchanged as the Dow, Nasdaq, and S&P dropped on worries about interest rates and the oil market.

 

Among the big names making news in the market Friday were Citigroup, Nomura, and Lumber Liquidators.

 

GATA Posts:

 

 

U.K. seeks to join China-backed Asian infrastructure bank

 

The Statistics:

Activity from: 3/12/2015

Gold Warehouse Stocks:

8,078,625.900

-68,035.745

Silver Warehouse Stocks:

176,346,744.999

-835,945.882

 

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

750.947

24,143,701

US$27,797m

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$5,121m

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$414m

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 2.09 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.02: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,181.17: No change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) year end results and Banro’s (BAA) dividends were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Sandstorm

SAND +5.78% $2.93

2.  Yamana

AUY +5.63% $3.75

3.  Paramount

PZG +5.21% $1.01

 

LOSERS

1.  AngloGold

AU -4.53% $8.64

2.  Freeport

FCX -3.97% $18.14

3.  Harmony

HMY -3.43% $1.69

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, 13 March 2015 | E-Mail  | Print  | Source: GoldSeek.com

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