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

 -- Published: Friday, 4 September 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1122.10

-$3.30

-1.08%

Silver

$14.58

-$0.11

-0.07%

XAU

45.32

-0.66%

-7.17%

HUI

108.66

-0.45%

-6.42%

GDM

369.08

-0.43%

-6.14%

JSE Gold

933.76

-40.01

-3.61%

USD

96.28

-0.06

+0.22%

Euro

111.46

+0.22

-0.38%

Yen

84.00

+0.75

+2.03%

Oil

$46.05

-$0.70

+1.84%

10-Year

2.128%

-0.040

-2.65%

Bond

157.1875

+1.21875

+0.36%

Dow

16102.38

-1.66%

-3.25%

Nasdaq

4683.91

-1.05%

-2.99%

S&P

1921.22

-1.53%

-3.40%

 
 

 

The Metals:

 

Gold popped up to $1129.52 after the release of this morning’s jobs report before it fell back to $1117.19 in the next hour of trade, but it then bounced back higher for most of the rest of the day and ended with a loss of just 0.29%.  Silver slipped to as low as $14.503 and ended with a loss of 0.75%.

 

Euro gold fell to about €1007, platinum lost $11 to $991, and copper dropped 6 cents to about $2.32.

 

Gold and silver equities fell about 2% by midmorning, but they then rallied back higher in the last half hour of trade and ended with only minor losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Aug

173K

217K

245K

Unemployment Rate

Aug

5.1%

5.2%

5.3%

Hourly Earnings

Aug

0.3%

0.2%

0.2%

Average Workweek

Aug

34.6

34.6

34.5

 

The BLS net birth/death adjustment added 111,000 payrolls to August’s data. Private Payrolls rose 140,000.

 

All of this week’s other economic reports:

 

ISM Services - August

59.0 v. 60.3

 

Trade Balance - July

-$41.9B v. -$45.2B

 

Initial Claims - 8/29

282K v. 270K

 

Factory Orders - July

0.4% v. 2.2%

 

Productivity - Q2

3.3% v. 1.3%

 

Unit Labor Costs - Q2

-1.4% v. 0.5%

 

ADP Employment - August

190K v. 177K

 

Construction Spending - July

0.7% v. 0.7%

 

ISM Index - August

51.1 v. 52.7

 

Chicago PMI - August

54.4 v. 54.7

 

Next week’s economic highlights include Consumer Credit on Tuesday, Initial Jobless Claims, Export and Import Prices, and Wholesale Inventories on Thursday, and PPI, Michigan Sentiment, and the Treasury Budget on Friday.

 

The Markets:

 

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

 

Oil fell, the U.S. dollar index traded mixed, and treasuries rose as the Dow, Nasdaq, and S&P fell over 1% on uncertainty about interest rates.

 

Among the big names making news in the market Friday were GE, Glencore, VW, Ford, and Ferrari.

 

GATA Posts:

 

 

Supervisors should not tell whole truth about bank health, Bundesbank economist warns

 

The Statistics:

Activity from: 9/3/2015

Gold Warehouse Stocks:

7,177,921.062

-41,698.209

Silver Warehouse Stocks:

167,894,737.748

-346,453.66

 

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$24,531m

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$4,981m

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$5,505m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$403m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

27.69

890,235

US$1,004m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.14: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,106.24: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  New Gold

NGD +4.04% $2.32

2.  Paramount

PZG +3.47% $1.24

3.  DRDGOLD

DRD +2.78% $1.48

 

LOSERS

1.  Primero

PPP -4.84% $2.36

2.  Freeport

FCX -4.15% $9.71

3.  Alamos

AGI -3.24% $4.18

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, 4 September 2015 | E-Mail  | Print  | Source: GoldSeek.com

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