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Gold Seeker Weekly Wrap-Up: Gold and Silver End Near Unchanged on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 31 July 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1095.20

+$7.10

-0.32%

Silver

$14.71

-$0.03

+0.14%

XAU

47.56

+1.97%

-1.96%

HUI

111.73

+3.05%

-2.75%

GDM

380.57

+1.89%

-1.60%

JSE Gold

796.93

-11.51

-1.62%

USD

97.24

-0.22

-0.01%

Euro

109.81

+0.48

+0.06%

Yen

80.68

+0.14

-0.15%

Oil

$47.12

-$1.40

-2.12%

10-Year

2.205%

-0.063

-2.91%

Bond

156.40625

+1.25

+1.09%

Dow

17690.46

-0.31%

+0.69%

Nasdaq

5128.28

-0.01%

+0.78%

S&P

2103.92

-0.22%

+1.17%

 
 

 

The Metals:

 

Gold drifted down to $1080.02 in London before it shot up to $1100.65 at about 9:30AM EST and then edged back lower at times, but it still ended with a gain of 0.65%.  Silver rose to as high as $14.99 before it also fell back off and ended with a loss of 0.2%.

 

Euro gold rose to about €997, platinum lost $1 to $980, and copper fell a few cents to about $2.35.

 

Gold and silver equities rose roughly 2% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Employment Cost Index

Q2

0.2%

0.6%

0.7%

Chicago PMI

July

54.7

50.5

49.4

Michigan Sentiment

July

93.1

94.0

93.3

 

All of this week’s other economic reports:

 

GDP - Q2

2.3% v. 0.6%

 

Chain Deflator - Q2

2.0% v. 0.1%

 

Initial Claims - 7/25

267K v. 255K

 

Pending Home Sales - June

-1.8% v. 0.6%

 

Case-Shiller 20-city Index - May

4.9% v. 5.0%

 

Consumer Confidence - July

90.9 v. 99.8

 

Durable Goods - June

3.4% v. -2.1%

 

Durable Goods -ex trans. - June

0.8% v. -0.1%

 

The Markets:

 

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

 

Oil fell almost 3% on steady OPEC output and a rising rig count in the US.

 

The U.S. dollar index dropped and treasuries jumped higher on mostly weak economic data that sent the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market Friday were Samsung, Tesco, Exxon, and Berry Plastics.

 

GATA Posts:

 

 

Ted Butler: Price takers and price makers

 

The Statistics:

Activity from: 7/30/2015

Gold Warehouse Stocks:

7,572,284.933

-270,299.421

Silver Warehouse Stocks:

175,670,770.518

-607,137.359

 

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$24,010m

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$4,866m

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$5,381m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$393m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

26.57

854,170

US$938m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.92: -0.63 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,165.53: No change from yesterday’s data.

 

The Miners:

 

Entree Gold’s (EGI) second quarter results, Buenaventura’s (BVN) second quarter results, Antofagasta’s joint venture with Barrick (ABX), Pretivm’s (PVG) Environmental Assessment Decision Statement, and Lake Shore’s (LSG) arrangement agreement with Temex Resources Corp. were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Eldorado

EGO +10.61% $3.44

2.  Gold Fields

GFI +6.15% $2.76

3.  DRDGOLD

DRD +5.83% $1.27

 

LOSERS

1.  Nevsun

NSU -6.71% $3.20

2.  Buenaventura

BVN -3.39% $7.12

3.  Gold Resource

GORO-0.90%$2.21

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

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