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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 2% and 5% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 28 August 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1134.40

+$10.10

-2.16%

Silver

$14.59

+$0.14

-4.52%

XAU

48.82

+4.25%

-6.42%

HUI

116.12

+4.30%

-8.36%

GDM

393.23

+3.92%

-7.67%

JSE Gold

968.74

+78.93

-5.30%

USD

96.07

+0.31

+1.19%

Euro

111.89

-0.55

-1.57%

Yen

82.33

-0.29

+0.56%

Oil

$45.22

+$2.66

+11.79%

10-Year

2.186%

+0.018

+6.43%

Bond

156.625

-0.25

-2.34%

Dow

16643.01

-0.07%

+1.11%

Nasdaq

4828.32

+0.32%

+2.60%

S&P

1988.87

+0.06%

+0.91%

 
 

 

The Metals:

 

Gold gained $7.54 to $1132.84 in Asia before it fell back to $1123.96 in London, but it then rose to as high as $1140.51 in New York and ended with a gain of 0.9%.  Silver climbed to as high as $14.669 and ended with a gain of 0.97%.

 

Euro gold rose to about €1014, platinum gained $20 to $1017, and copper climbed slightly to about $2.34.

 

Gold and silver equities gained over 4% in the first 45 minutes of trade and remained near the level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

July

0.4%

0.4%

0.4%

Personal Spending

July

0.3%

0.4%

0.3%

PCE Prices - Core

July

0.1%

0.1%

0.1%

Michigan Sentiment

Aug

91.9

93.0

92.9

 

Moody's cuts 2016 global growth forecasts Reuters

Focus turns to U.S. data as China slowdown looms Reuters

Fed hawks acknowledge market turmoil may delay rate hike Reuters

Where every Fed member stands on raising interest rates MarketWatch

 

All of this week’s other economic reports:

 

Pending Home Sales - July

0.5% v. -1.7%

 

GDP - Q2

3.7% v. 2.3%

 

GDP Deflator - Q2

2.1% v. 2.0%

 

Initial Claims - 8/22

271K v. 277K

 

Durable Goods - July

2.0% v. 4.1%

 

Durable Goods -ex trans. - July

0.6% v. 1.0%

 

Consumer Confidence - August

101.5 v. 91.0

 

New Home Sales - July

507K v. 481K

 

Case-Shiller 20-city Index - June

5.0% v. 5.0%

 

FHFA Housing Price Index - June

0.2% v. 0.5%

 

Next week’s economic highlights include Chicago PMI on Monday, the ISM Index and Construction Spending on Tuesday, ADP Employment, Productivity, Factory Orders, and the fed’s Beige Book on Wednesday, Initial Jobless Claims, the Trade Balance, and ISM Services on Thursday, and August’s jobs data on Friday.

 

The Markets:

 

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

 

Oil rose over 6% more on geopolitical instability in Yemen and worries about weather in the Gulf of Mexico.

 

The U.S. dollar index saw decent gains and treasuries fell slightly on decent economic data and fed speak.

 

The Dow, Nasdaq, and S&P traded mostly lower in relatively calm trade after a very volatile week.

 

Among the big names making news in the market Friday were Baker Hughes, Apple, and Boeing.

 

GATA Posts:

 

 

Is the Fed behind the stock market and commodity crashes?

Avery Goodman: Fed spent $23 billion in three days but still had trouble pushing up stocks

 

The Statistics:

Activity from: 8/27/2015

Gold Warehouse Stocks:

7,220,331.902

-385.802

Silver Warehouse Stocks:

171,161,441.602

-32,340.65

 

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

682.595

21,946,103

US$24,901m

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$5,022m

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$5,568m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$407m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

24.83

798,370

US$906m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.49 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.07: No change from yesterday’s data.

 

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

 

The Miners:

 

WINNERS

1.  DRDGOLD

DRD +12.07% $1.30

2.  Endeavour Silver

EXK +10.53% $1.68

3.  Alamos Gold

AGI +10.13% $4.13

 

No “losers” today.

 

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

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