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

 -- Published: Thursday, 2 July 2015 | Print  | Disqus 

Please Note: US Markets are closed tomorrow in observance of Independence Day.

 

 

Close

Gain/Loss

On Week

Gold

$1165.60

-$2.90

-0.72%

Silver

$15.65

+$0.06

-0.95%

XAU

62.64

+2.09%

-3.14%

HUI

148.89

+2.11%

-2.20%

GDM

487.02

+1.39%

-2.67%

JSE Gold

984.53

-11.53

-4.44%

USD

96.09

-0.15

+0.78%

Euro

110.81

+0.27

-0.82%

Yen

81.26

+0.06

+0.59%

Oil

$56.93

-$0.03

-4.53%

10-Year

2.393%

-0.025

-3.35%

Bond

149.1875

+0.34375

+0.99%

Dow

17730.11

-0.16%

-1.21%

Nasdaq

5009.21

-0.08%

-1.40%

S&P

2076.78

-0.03%

-1.18%

 
 

 

The Metals:

 

Gold fell $12.36 to $1156.14 just before this morning’s jobs data before it rallied to almost unchanged in the next half hour of trade and then drifted back lower in the next couple of hours, but it then bounced back higher into the close and ended with a loss of just 0.25%.  Silver slipped to $15.508 before it jumped back to $15.757 and then also fell back off, but it still ended with a gain of 0.38%.

 

Euro gold fell to about €1051, platinum lost $1 to $1080, and copper remained at about $2.63.

 

Gold and silver equities rose roughly 2% 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

Nonfarm Payrolls

June

223K

230K

254K

Unemployment Rate

June

5.3%

5.4%

5.5%

Hourly Earnings

June

0.0%

0.2%

0.2%

Average Workweek

June

34.5

34.5

34.5

Initial Claims

6/27

281K

273K

271K

Factory Orders

May

-1.0%

-0.5%

-0.7%

 

The BLS net birth/death adjustment added 109,000 payrolls to June’s data. Private Payrolls rose 223,000.

 

Traders now betting Fed to wait until 2016 for first rate hike Reuters

Labor Market Runs in Place; More Jobs, Participation Lowest Since 1977 Bloomberg

 

All of this week’s other economic reports:

 

Construction Spending - May

0.8% v. 2.1%

 

ISM Index - June

53.5 v. 52.8

 

ADP Employment - June

237K v. 203K

 

Consumer Confidence - June

101.4 v. 94.6

 

Chicago PMI - June

49.4 v. 46.2

 

Case-Shiller 20-city Index - April

4.9% v. 5.0%

 

Pending Home Sales - May

0.9% v. 3.4%

 

Next week’s economic highlights include ISM Services on Monday, the Trade Balance and Consumer Credit on Tuesday, FOMC Minutes on Wednesday, Initial Jobless Claims on Thursday, and Wholesale Inventories on Friday.

 

The Markets:

 

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

 

Oil erased early gains and ended slightly lower after “data showed that the weekly number of U.S. rigs actively drilling for oil rose for the first time this year.”

 

The U.S. dollar index fell on worse than expected jobs data that sent treasuries higher.

 

The Dow, Nasdaq, and S&P erased early gains and ended modestly lower on worries about Greece.

 

Among the big names making news in the market Friday were BP, Yahoo, and Apple.

 

GATA Posts:

 

 

Brazil's antitrust agency investigates banks for interest rate manipulation

Bron Suchecki: OCC gold derivatives chart wasn't wrong, just confusing

 

The Statistics:

Activity from: 7/1/2015

Gold Warehouse Stocks:

8,043,291.086

-

Silver Warehouse Stocks:

183,685,085.048

-311,379.73

 

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

711.439

22,873,469

US$26,642m

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$5,167m

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$5,711m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$417m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

27.35

879,382

US$1,034m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 167.79: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,119.29: No change from yesterday’s data.

 

The Miners:

 

Alamos Gold’s (AGI) and AuRico’s (AUQ) completed merger and Great Panther’s (GPL) drilling update were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Sandstorm

SAND +11.5% $3.20

2.  Hecla

HL +6.97% $2.61

3.  Primero

PPP +5.38% $3.92

 

LOSERS

1.  Harmony

HMY -2.27% $1.29

2.  Turquoise

TRQ -0.80% $3.72

3.  New Gold

NGD -0.74% $2.69

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

 

- 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: Thursday, 2 July 2015 | E-Mail  | Print  | Source: GoldSeek.com

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