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

 -- Published: Friday, 14 August 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1115.20

UNCH

+2.12%

Silver

$15.22

-$0.19

+3.05%

XAU

49.65

-0.88%

+8.67%

HUI

116.38

-1.18%

+8.38%

GDM

400.00

-1.54%

+7.88%

JSE Gold

801.68

-28.10

+5.20%

USD

96.59

+0.22

-1.09%

Euro

111.11

-0.42

+1.40%

Yen

80.46

+0.10

-0.05%

Oil

$42.50

+$0.27

-3.12%

10-Year

2.196%

+0.007

+0.97%

Bond

158.00

+0.09375

-0.32%

Dow

17477.40

+0.40%

+0.60%

Nasdaq

5048.23

+0.29%

+0.09%

S&P

2091.54

+0.39%

+0.67%

 
 

 

The Metals:

 

Gold dipped $2.68 to $1112.52 in early Asian trade before it rallied back to $1121.00 in London and then fell to as low as $1111.84 in early afternoon New York trade, but it then rallied back higher in the last couple of hours of trade and ended unchanged on the day.  Silver slipped to as low as $15.184 and ended with a loss of 1.23%.

 

Euro gold rose to about €1004, platinum remained at $988, and copper stayed at about $2.35.

 

Gold and silver equities waffled near unchanged and ended about 1% lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

July

0.2%

0.1%

0.4%

Core PPI

July

0.3%

0.1%

0.3%

Industrial Production

July

0.6%

0.3%

0.1%

Capacity Utilization

July

78.0%

78.0%

77.7%

Michigan Sentiment

Aug

92.9

93.7

93.1

 

All of this week’s other economic reports:

 

Business Inventories - June

0.8% v. 0.3%

 

Initial Claims - 8/08

274K v. 269K

 

Retail Sales - July

0.6% v. 0.0%

 

Retail Sales ex-auto - July

0.4% v. 0.4%

 

Import Prices - July

-0.9% v. 0.0%

 

Import Prices ex-oil - July

-0.3% v. -0.2%

 

Export Prices - July

-0.2% v. -0.3%

 

Export Prices ex-ag. - July

-0.4% v. -0.2%

 

Treasury Budget - July

-$149.2B v. -$94.6B

 

Wholesale Inventories - June

0.9% v. 0.6%

 

Productivity - Q2

1.3% v. -1.1%

 

Unit Labor Costs - Q2

0.5% v. 2.3%

 

Next week’s economic highlights include Empire Manufacturing, the NAHB Housing Market Index, and Net Long-Term TIC Flows on Monday, Housing Starts and Building Permits on Tuesday, CPI and FOMC Minutes on Wednesday, and Initial Jobless Claims, Existing Home Sales, the Philadelphia Fed, and Leading Indicators on Thursday.

 

The Markets:

 

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

 

Oil edged higher along with the U.S. dollar index on decent economic data and calm in China that sent and the Dow, Nasdaq, and S&P modestly higher.  Treasuries ended with slight gains in mixed trade.

 

Among the big names making news in the market Friday were GE, Volkswagen, and Tesla.

 

GATA Posts:

 

 

Avery Goodman: The 'big long' gets bigger as Goldman, HSBC buy more gold

On Keiser Report, GoldMoney's Macleod argues for gold over bank credit

Biggest South African gold miners unions say wage talks 'collapse'

China reports another increase in gold reserves

'Trust the market,' Chinese central banker says after rigging it

 

The Statistics:

Activity from: 8/13/2015

Gold Warehouse Stocks:

7,318,088.625

-104,030.358

Silver Warehouse Stocks:

172,637,075.405

+530,898.493

 

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

671.867

21,601,191

US$24,151m

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$4,947m

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$5,468m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$400m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

24.48

787,001

US$880m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.02: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,107.64: No change from yesterday’s data.

 

The Miners:

 

Eurasian’s (EMXX) second quarter results, Lake Shore’s (LSG) acquired shares of IDM Mining, and Aurcana’s (AUN.V) second quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Coeur

CDE +3.36% $3.69

2.  Eldorado

EGO +2.89% $3.92

3.  Hecla

HL +0.93% $2.17

 

LOSERS

1.  Buenaventura

BVN -5.56% $6.80

2.  Primero

PPP -4.71% $2.83

3.  Avino

ASM -4.31% $1.11

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, 14 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

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