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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 3% and 1% on the Week
By: Chris Mullen, Gold-Seeker.com

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

 

Close

Gain/Loss

On Week

Gold

$1098.70

+$10.00

-3.10%

Silver

$14.69

+$0.04

-1.34%

XAU

48.51

+2.58%

-10.50%

HUI

114.89

+3.68%

-10.63%

GDM

386.76

+2.33%

-9.72%

JSE Gold

810.07

-44.00

-13.46%

USD

97.25

+0.12

-0.64%

Euro

109.74

-0.13

+1.21%

Yen

80.80

+0.08

+0.26%

Oil

$48.14

-$0.31

-5.40%

10-Year

2.271%

-0.006

-3.32%

Bond

154.71875

+0.25

+1.68%

Dow

17568.53

-0.92%

-2.86%

Nasdaq

5088.62

-1.12%

-2.33%

S&P

2079.65

-1.07%

-2.21%

 
 

 

The Metals:

 

Gold drifted down to $1077.89 at about 8AM EST, but it then jumped to as high as $1101.48 in afternoon trade and ended with a gain of 0.92%.  Silver rose to as high as $14.737 and ended with a gain of 0.27%.

 

Euro gold rose to about €1001, platinum gained $8 to $982, and copper remained at about $2.38.

 

Gold and silver equities fell about 3% in the first hour of trade, but they then rallied back higher in the last couple of hours of the day and ended with about 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

New Home Sales

June

482K

550K

517K

 

All of this week’s other economic reports:

 

Leading Indicators - June

0.6% v. 0.8%

 

Initial Claims - 7/18

255K v. 281K

 

Existing Home Sales - June

5.49M v. 5.32M

 

FHFA Housing Price Index - May

0.4% v. 0.4%

 

Next week’s economic highlights include Durable Goods Orders on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, Pending Home Sales and a FOMC Rate Decision on Wednesday, Initial Jobless Claims and GDP on Thursday, and the Employment Cost Index, Chicago PMI, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil fell, the U.S. dollar index rose, and treasuries saw slight gains as the Dow, Nasdaq, and S&P dropped about 1% on mostly poor earnings reports.

 

Among the big names making news in the market Friday were Vodafone, Biogen, Amazon, AbbVie, and Anthem and Cigna.

 

GATA Posts:

 

 

World Gold Council dismisses gold price plunge

GATA secretary interviewed on growing obviousness of central bank attacks on gold

 

The Statistics:

Activity from: 7/23/2015

Gold Warehouse Stocks:

7,920,206.028

-128.60

Silver Warehouse Stocks:

177,837,331.157

-151,037.284

 

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

680.154

21,867,644

US$23,627m

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$4,819m

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$5,331m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$394m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

27.05

869,629

US$985m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 7.155 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.85: -3.43 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,227.90: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  IAMGOLD

IAG +13.11% $1.38

2.  NovaGold

NG +10.42% $3.18

3.  Paramount

PZG +10.34% $1.28

 

LOSERS

1.  Freeport

FCX -9.90% $12.29

2.  Turquoise

TRQ -1.45% $3.40

3.  Coeur

CDE -0.26% $3.82

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

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