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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 2% and 3% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 24 April 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1178.60

-$16.10

-2.15%

Silver

$15.72

-$0.17

-3.32%

XAU

69.95

-0.96%

-1.40%

HUI

173.79

-1.64%

-1.65%

GDM

539.44

-1.54%

-1.57%

JSE Gold

1298.09

-36.50

-2.48%

USD

96.92

-0.36

-0.49%

Euro

108.64

+0.40

+0.51%

Yen

84.09

+0.44

-0.04%

Oil

$57.15

-$0.59

+2.53%

10-Year

1.917%

-0.030

+3.62%

Bond

162.6875

+0.65625

-1.61%

Dow

18080.14

+0.12%

+1.42%

Nasdaq

5092.08

+0.71%

+3.25%

S&P

2117.69

+0.23%

+1.75%

 
 

 

The Metals:

 

Gold edged up to $1195.88 in late Asian trade, but it then fell back off in London and New York and ended near its early afternoon low of $1175.24 with a loss of 1.35%.  Silver slipped to as low as $15.611 and ended with a loss of 1.07%.

 

Euro gold fell to about €1085, platinum lost $14 to $1120, and copper climbed 4 cents to about $2.74.

 

Gold and silver equities fell roughly 1% in the first 45 minutes of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods

Mar

4.0%

0.5%

-1.4%

Durable Goods -ex trans.

Mar

-0.2%

0.4%

-1.3%

 

All of this week’s other economic reports:

 

New Home Sales - March

481K v. 543K

 

Initial Claims - 4/18

295K v. 294K

 

Existing Home Sales - March

5.19M v. 4.89M

 

FHFA Housing Price Index - February

0.7% v. 0.3%

 

Next week’s economic highlights include the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, GDP, Pending Home Sales, and a FOMC Rate Decision on Wednesday, Initial Jobless Claims, Personal Income and Spending, Core PCE Prices, the Employment Cost Index, and Chicago PMI on Thursday, and Construction Spending, the ISM Index, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil fell about 1% on profit taking today, but it still gained over 2.5% on the week.

 

The U.S. dollar index dropped on more poor economic data that sent treasuries higher.

 

The Dow, Nasdaq, and S&P rose on mostly better than expected earnings reports.

 

Among the big names making news in the market Friday were Cnooc, Deutsche Bank, HSBC, and Comcast.

 

GATA Posts:

 

 

South African gold miners union plans to demand wage hikes of 75%

 

The Statistics:

Activity from: 4/23/2015

Gold Warehouse Stocks:

7,751,973.171

-160,384.771

Silver Warehouse Stocks:

175,190,351.676

-

 

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

742.347

23,867,202

US$28,226m

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$5,236m

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$5,786m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$422m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.03

933,347

US$1,116m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,209.61: +59.47 change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) pay structure, Yamana’s (AUY) acquisition, and Silver Bull’s (SVBL) AGM results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Newmont

NEM +6.52% $24.98

2.  Turquoise

TRQ +4.66% $4.04

3.  Freeport

FCX +3.74% $20.82

 

LOSERS

1.  Coeur

CDE -7.01% $5.17

2.  Primero

PPP -5.71% $3.47

3.  Sandstorm

SAND -4.48% $3.41

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, 24 April 2015 | E-Mail  | Print  | Source: GoldSeek.com

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